ROI Land Investments to Acquire Land in the Heart of Dubai
14 Luglio 2015 - 2:00PM
Company to Develop 300 Apartments in Sobha
Hartland
MONTREAL, July 14th, 2015 -- ROI
Land Investments Ltd. (OTCQB: ROII) ("ROI" or the "Company"), a
diversified real estate land development investment company,
announced today that it has entered into a binding memorandum of
understanding ("MOU") with PNC Investments LLC ("PNC"), a
Dubai-based developer. This agreement will enable ROI to purchase
three prime plots of land in Sobha Hartland, a $4 billion mixed-use
project located in the heart of Dubai that PNC's wholly-owned
subsidiary Sobha LLC ("Sobha") is developing. The plots with total
433,125 square feet of gross floor area will be used to develop 300
apartments in three eight-story buildings. The agreement represents
ROI's first venture in the Middle East.
"We are excited to partner with Sobha to provide high-quality
housing in one of the most vibrant and dynamic cities in the Middle
East," said Sami B. Chaouch, Chairman of ROI. "The Dubai project
will expand and diversify ROI's geographic reach, a key element of
our strategy as we seek development opportunities in locations that
boast favorable demographics and strong economic growth. With its
modern infrastructure, business-friendly environment, multi-lingual
human capital and easy access to Western Europe and East Asia,
Dubai meets all the criteria we look for in a potential new
market."
Centrally located in the Mohammed Bin Rashid Al Maktoum City, Sobha
Hartland covers eight million square feet and contains villas,
apartments, two international schools, retail and office space,
hotels, spas and entertainment venues. More than 30% of the project
is dedicated to open areas and lush green space. The project is
just three kilometers from the world's tallest building, Burj
Khalifa, the largest shopping mall, The Dubai Mall, and is in the
vicinity of multiple other recognizable landmarks. ROI's plots are
extremely well located within Sobha Hartland, with full views of
the world famous Dubai's skyline overlooking a lush green
parkland.
About Sobha LLC
Founded in 1976, Sobha LLC is a fully backward integrated,
multinational, multi-product real estate developer. Its
developments in the Middle East and Asia employ over 28,000 people
and a cover over 240 million square feet. It has developed more
than 75 million square feet across 450 projects in these
areas.
About ROI Land Investments Ltd.
ROI Land Investments, Ltd. ("ROI") is a diversified real estate
investment company specializing in land development. ROI's business
model consists of acquiring attractive land developments free of
zoning restrictions, obtaining the necessary development permits,
outsourcing the development of the infrastructure and profiting
from the sale of the subdivided land units to known large regional
developers.
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 / Media Contacts:
KCSA Strategic Communications
Brad Nelson / Elizabeth Barker
212-896-1249 / 212-896-1203
bnelson@kcsa.com / ebarker@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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