ROI Land Investments has raised US$ 6,155, 475 in equity from investors. The company intends to use these funds for implementation of its business plan to acquire pre-zoned land ready for residential and commercial development as well as general working capital.
The company is continuing to evaluate significant land opportunities within the province of Quebec and with additional special focus on British Columbia, Canada, where a number of LNG projects are being developed.
In Northern British Columbia, specifically in the towns of Kitimat and Terrace, there is considerable demand for housing due to a macro economic development derived from the construction of one of Canada's largest pipelines for the exportation of LNG, as well as terminals and other points of distribution. The LNG projects are estimated to be some of the largest private investment developments in the history of British Columbia and Canada.
The Vancouver Sun reported that construction of the Kitimat LNG Project may cost as much as CAN$ 40 billion, will create thousands of new jobs and could generate CAN$ 39 billion in tax revenue over its lifespan. The project is also expected to create 7500 new jobs and generate approximately CAN$ 94 million per year in municipal and regional taxes during construction and approximately CAN$ 15 million per year in municipal and regional taxes during operations.
The Northern British Columbia housing markets were among the first markets in Canada to rebound based on a positive long-term outlook on mining, energy and infrastructure investments especially related to major project announcements such as the LNG projects. The housing market in Northern British Columbia is forecasted to shift higher through 2016. Increased activity will reflect employment, population and income gains geared to the commencement and expansion of major commodity-based projects across the north, including LNG terminals and port expansions in the northwest, mining in the interior and continued activity in the oil and gas fields in the northeast. Because the housing market was not overbuilt during the recession, there is a limited inventory of housing compared to demand.
ROI President, Philippe Germain commented: "Again, we want to thank all of our shareholders/investors who believe in our business model and acquisition strategy. We are fully committed to our business plan and action plan. The funds secured through this equity raise shall be utilized for further acquisition developments and general working capital. We are especially excited to pursue opportunities in Northern British Columbia where we envision significant demand and growth of the housing market."
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/12112014/roi-land-raises-funds-for-lng-residential-land-development-1781/