ROI Land Investments said that it has acquired approximately 250,000 square feet of prime residential land development to build over 300 apartment units in Kitimat and Terrace, British Columbia, Canada.
The estimated market value of these acquisitions is of CDN $10,000,000. Land development and all necessary permits have been approved for the development of these lands and construction is expected to commence shortly.
As previously revealed by the company, in Northern British Columbia, specifically in the towns of Kitimat and Terrace, there is an explosive demand for housing due to a macroeconomic 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.
Besides LNG Canada project, there are three other major LNG projects proposed in Kitimat, including the Kitimat project, which is to be considered the most advanced LNG project in British Columbia.
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.
LNG World News Staff; Image: ROI Land Investments