ROI Land Investments to Acquire Land in Montgomery County, Texas
22 Outubro 2015 - 8:00AM
Company to Develop
250 Acres of Land into Residential Housing in Fast-Growing Part of
Houston
MONTREAL, October 22nd, 2015 (GLOBE
NEWSWIRE) -- ROI Land Investments Ltd. (OTCQB: ROII) ("ROI" or the
"Company"), a diversified real estate land development investment
company, announced today it has entered into a binding agreement to
acquire 250 acres, or 10.9 million square feet, of land in
Montgomery County, Texas for approximately $8.3 million. ROI
intends to develop 900 residential housing units on the property,
which is located 40 miles northwest of downtown Houston and
adjacent to the city of Conroe. The acquisition is expected to
close in the first quarter of 2016.
"We are excited to announce our
second project in the U.S., where we continue to find development
opportunities that match our rigid criteria and provide compelling
returns on investment," said Philippe Germain, President of ROI.
"Montgomery County's economy is strong, driven by high incomes and
robust energy, engineering, and professional services industries.
The new Dallas-Houston bullet train, is also expected to increase
migration to the area and push the already strong demand for
housing even higher."
Beginning in 2016, ROI intends to develop the 900 lots in
approximately four phases. The project will take six years to
complete and will include patio homes, parks and single-family
homes of varying sizes. The Company plans to partner with a local
construction company to build and market the units.
Marc Andre Levesque, Chief Operating Officer of ROI, added, "This
acquisition is consistent with our strategy to develop quality
housing in areas that are undergoing an economic transformation or
that have an impending catalyst. Due to its location in the Houston
metropolitan area and near Conroe, one of the fastest growing
cities in the U.S., we are enthusiastic about this
opportunity."
Conroe is the only city in the Houston area on the U.S. Census'
list of the top 15 fastest-growing cities with populations over
50,000. The Census reports that the city's population jumped over
5% from 2013 to 2014 to 65,871. Additionally, Montgomery County is
in close proximity to multiple transportation networks, providing
convenient access to several employment centers throughout the
region. Households in the area have considerably higher incomes
compared to those in greater Houston due to the abundance of nearby
energy, engineering and professional services jobs. The area also
benefits from being part of a renowned and strong school district.
New elementary, middle and high schools will open in 2017-2018,
which is expected to further fuel demand for housing.
About ROI Land Investments Ltd.
ROI Land Investments (OCTQB: ROII) participates in the early stages
of real estate development. The Company acquires raw land free of
zoning restrictions located in geographies positioned to benefit
from unique economic catalysts. ROI also manages the
permitting process, oversees the construction of infrastructure and
works closely with established developers to bring the projects to
completion. The Company has projects underway throughout
North America and the UAE.
SAFE HARBOR AND INFORMATIONAL
STATEMENT
This press release may contain forward-looking information within
the meaning of Section 21E of the Security Exchange Act of 1934, as
amended (the Exchange Act), including all statements that are not
statement of historical fact regarding the intent, belief or
current expectations of the company, its directors or its officers
with respect to, among other things: (i) the company's financing
plans; (ii) trends affecting the company's financial conditions or
results of operations; (iii): the company's growth strategy and
operating strategy; and (iv) the declaration and payment of
dividends. The words "may", "would", "will", "expect", "estimate",
"anticipate", "believe", "intend", and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not a guarantee of future of future performance and
involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements,
as a result of various factors including the risk disclosed in the
company's statements and reports filed with the US Securities &
Exchange Commission. The Company claims the safe harbor provided by
Section 21E(c) of the Exchange Act for all forward-looking
statements.
For more information please visit our website: www.ROILandInvestments.com
Investor Contacts:
KCSA Strategic Communications
Brad Nelson / Elizabeth Barker
212-896-1249 / 212-896-1203
roi@kcsa.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ROI Land Investments LTD via Globenewswire
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