Yes, all loans taken out in order to invest * are tax deductible.
* you do need to have that investment generate income each year, not just "a hold for 10 years to get a capital gain" plan. So you can't just buy land and sit on it and claim the borrowing costs, you have to receive rent or other income from it.
You can't claim your primary residence mortgage as tax deductible, it gets preferential treatment of no-tax on the gains when you sell instead.