Genesis Land Expands Calgary Footprint With Major Acquisition

Genesis Land Dev (TSE:GDC) has released an update.

Genesis Land Development Corp. has expanded its portfolio with the strategic purchase of 734 acres of land earmarked for future residential development in Calgary’s southeast sector, investing $53.9 million with payment terms spread over four years. Moreover, the company has an option to buy an additional 106 acres, underscoring its long-term investment in the Calgary housing market. The land currently holds a Future Urban Development zoning status, requiring further planning before any development commences.

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