Recently, LNG Canada Development Inc. has been developing LNG pipelines in British Columbia (B.C.). This has resulted in an increasing need for workers in order to complete the projects. By definition, the introduction of more workers has directly caused the need for more residential housing.
Therefore, ROI Land Investments Ltd, a real estate and land investment company, has recently started building residential housing in Kitimat, B.C., where the LNG industry is growing. This is part of ROI Land Investment’s larger project, which is also in effect in Colorado, Dubai and Quebec. In December 2014, ROI Land Investments completed its first project in Terrace, B.C.
Philippe Germain, the President and Co-Founder of ROI Land Investments, therefore, has written a letter to all shareholders in his company, explaining where their money is going and why this is the case.
Speaking on Kitimat, Germain stated: “In May, we entered into an agreement with LNG Canada to develop apartment and townhouse units in Kitimat […] LNG Canada intends to lease these units for its workforce over a five year period. The first phase of the project, which calls for 36 apartments and nine townhouses, is expected to be completed in May 2016.”
Edited from various sources by David Rowlands