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