During my latest visit to Baja California, I looked deeper into opportunities for ProGreenUS real estate investments in the Ensenada area.
As we continue with – and plan to accelerate – work on the agricultural land development projects further South, I also identified great opportunities for real estate investments in Ensenada, for the company to seek to maximize revenues and profits in Baja. I conducted some preliminary research for residential developments, looking at different areas, meeting with real estate agents and local contractors, in order to get a better understanding of the present real estate market in Ensenada.
The impression was that the timing is now very good with high demand for properties both for rent and for sale, from a middle segment of the local population. We will be researching this deeper during the coming months, but from initial indications, we feel it is likely that we will initiate residential real estate investments in Baja much sooner than previously anticipated. Our original plan has been to focus only on land developments for agricultural use as an initial phase. However, as they say, timing is everything, and I feel that will greatly influence our decision to broaden our involvement in Baja sooner than earlier anticipated. The economy is improving in the area, resulting in a growing middle-income population creating an increasing demand for housing. As one example, a large multi-family complex a couple of miles outside Ensenada, has a long waiting list for renters with monthly rates higher than the average monthly income.
During my visit, I also met with prospective buyers for the first 300-acre land, and I believe we are getting closer to finalizing this first deal, but when you have been in business as long as I have, you also know that “nothing is for sure before the check has cleared.” These clients see the ongoing harvest as always more urgent than any other transaction.
We have added some pictures and additional information to the Baja Project and Get to Know Baja pages at http://www.progreenus.com/baja.html on the company website.
As mentioned on the company’s Twitter feed (@ProGreenUS) on Friday, our application for listing on OTCQB has been accepted. Upon receiving confirmation from OTC Markets of our formal OTCQB designation, the company’s final step will be to upload our Initial OTCQB Certification to the OTC Markets website.