Is it permissible to purchase land with the intention of selling it later, knowing that the buyer will not know the location of their land until after the large area has been divided and lots have been drawn?

It is permissible to buy an undivided share of land. Selling an undivided share is unanimously permissible, whether it is amenable to division or not. After the sale, a lottery (qur'ah) is used to determine the specific portion for each buyer. The lottery is a legitimate method of division, not a matter of luck or gambling, and it has been mentioned in the Qur'an and Sunnah.