MIAMI, Nov. 26,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG Devco" or the
"Company"), a real estate development company, is pleased
to announce a significant milestone in the progress of its Sugar
Phase I project in South Texas
(the "Project"). The Company has successfully completed 50% of the
Project, marking a critical step in its construction timeline.
The Project, now halfway through its construction, is an
integral part of SG Devco's strategy to deliver high-quality
single-family homes in rapidly growing communities. The Project is
on track for completion before the end of 2024, reinforcing SG
Devco's commitment to meeting housing demands and delivering on its
development objectives.
With this milestone achieved, the Company is launching its
marketing campaign to sell the homes in the Sugar Phase I Project.
SG Devco will leverage its proprietary digital platform and tools
to enhance the homebuying process. The platform seeks to simplify
the homebuying experience for SG Devco homes by seamlessly
incorporating mortgage services and down payment assistance.
"We are thrilled to achieve this major milestone for Sugar Phase
I," said David Villarreal, CEO of SG
Devco. "This progress is a testament to our team's dedication to
advancing innovative housing solutions. We look forward to
completing the project by Q1 2025 and continuing to contribute to
the vibrant growth of the South
Texas region."
The Company remains committed to maintaining its momentum on the
Project and achieving successful sales as it prepares for the
completion of Sugar Phase I.
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses on the development
of sites using purpose-built, prefabricated modules built from both
wood and steel. The thesis of development is to build strong,
innovative and green, single or multifamily projects across all
income and asset classes. Additionally, a majority owned subsidiary
of SG DevCo, Majestic World Holdings LLC, is a prop-tech
company that has created a real estate AI Platform. The Platform
aims to decentralize the real estate marketplace, creating an
all-in-one solution that brings banks, institutions, home builders,
clients, agents, vendors, gig workers, and insurers into a
seamlessly integrated and structured AI-driven environment. MyVONIA
Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA
which is an AI-powered personal assistant designed to help simplify
daily tasks and improve productivity for individuals and
businesses. MyVONIA aims to assist with managing both personal and
professional tasks.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as amended
and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of historical fact are or may
be deemed to be forward-looking statements. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates" and similar expressions
and include statements regarding SG Devco's strategy to deliver
high-quality single-family homes in rapidly growing communities,
the Sugar Phase I Project being on track for completion by Q1 2025,
SG Devco's commitment to meeting housing demands and delivering on
its development objectives, leveraging the Company's proprietary
digital platform and tools to enhance the homebuying process, the
Company's platform simplifying the homebuying experience for
consumers by seamlessly incorporating mortgage services and down
payment assistance, the dedication of the Company's team to
advancing innovative housing solutions, continuing to contribute to
the vibrant growth of the South
Texas region, maintaining momentum on the Project and
achieving successful sales as the Company prepares for the
completion of Sugar Phase I and creating an all-in-one solution
that brings banks, institutions, home builders, clients, agents,
vendors, gig workers, and insurers into a seamlessly integrated and
structured AI-driven environment.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to deliver and sell
finished homes for the Sugar Phase I project in South Texas as planned, the Company's ability
to create an all-in-one solution that brings banks, institutions,
home builders, clients, agents, vendors, gig workers, and insurers
into a seamlessly integrated and structured AI-driven environment,
the Company's ability to obtain the capital necessary to fund its
activities, the Company's ability to monetize its real estate
holdings, and other factors discussed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2023, and its subsequent filings
with the SEC. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, and the Company undertakes
no obligation to revise or update this press release to reflect
events or circumstances after the date hereof.
For investor relations and media inquiries, please
contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation
