MIAMI, Dec. 18,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SGD" or the
"Company"), a real estate development company, is excited to
share its 2024 Year In Review highlights, including the strategic
sale of the St. Mary's property, the progress of the Sugar Phase I
Development, the acquisition of additional single-family lots in
South Texas and the closing of
multiple construction loans.
A Message from CEO David
Villarreal:
"We believe we have set the stage for rapid growth on a
defined path throughout 2025 and beyond. We have executed contracts
to strategically monetize several of our existing land holdings,
which will eliminate high interest debt to allow us to
pursue our growth strategy and focus on a more targeted footprint.
We have a pipeline of approximately 250 single family home lots in
the Rio Grande Valley and started construction on the first
phase.
Additionally, we are integrating our technology platform to
increase margins on each home sold. The proprietary platform aims
to simplify the homebuying experience for the consumer and
integrates mortgage services and down payment assistance. This
vertically integrated approach from development through home sales
is designed to be a scalable and repeatable strategy that improves
margins compared to traditional real estate development. While our
initial developments will be in the Rio Grande Valley, we intend to
apply this strategy across our parcels in Oklahoma and Georgia. Profitable asset sales, along with up
to a $10M investment from Arena
Global, an institutional investor, should allow us to pursue our
growth strategy."
A Transformative Year for SGD
2024 has been a pivotal year for SGD, marked by significant
achievements in asset monetization and pipeline expansion. Key
accomplishments include:
- Strategic Real Estate Monetization – St. Mary's
Property: On November 18,
2024, SGD executed its strategy of monetizing select real
estate assets by selling its St. Mary's property in Georgia to Pigmental Studios for $1.4 million, generating approximately
$1.1 million in net proceeds. This
transaction allowed SGD to reduce its debt and reinvest in growth
initiatives.
- Developing the first phase of homes in Company
History: Construction is underway on the Sugar Phase I
development in Texas, with the
first six homes scheduled for completion and sale by Q1 2025. This
initial phase is projected to generate $1.2
million in revenue for the joint venture, with at least 40
homes planned across various projects for delivery throughout 2025,
potentially generating up to $8.0
million in revenue for the Company's joint ventures.
- Single Family Home Portfolio Expansion ~ Approximately 250
Lot Pipeline: SGD entered several new joint ventures to
acquire approximately 250 single-family lots across several
different cities in the Rio Grande Valley. The Company's pipeline
in the region now includes Sugar Phases 1 & 2 as well as
Hacienda Olivia Phases 2, 3 & 4.
- Arena Global: SGD secured an investment of
potentially up to $10 million from
Arena Business Solutions Global SPC II, LTD and regained
compliance with NASDAQ's minimum bid price requirement, bolstering
its financial stability and operational momentum.
- Mortgage & DPA Partnerships: SGD inked
partnerships with Trio Residential and Allied Services Group
respectively to provide down payment assistance, lease-to-own and
mortgage services to prospective buyers of SGD homes.
- Technology Integration: The Company completed its
acquisition of Majestic World Holdings and is leveraging the
technology to facilitate purchases of SGD homes via its proprietary
portal: reav.homes
Looking Ahead
With a robust development pipeline, strategic partnerships, and
disciplined financial management, SGD will be well-equipped to
capitalize on growth opportunities in 2025. The Company is
committed to advancing its mission of delivering sustainable and
innovative housing solutions.
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 having set the stage for rapid
growth on a defined path throughout 2025 and beyond, strategically
monetizing several of SGD's existing land holdings and eliminating
high interest debt, pursuing the Company's growth strategy and
focusing on a more targeted footprint, integrating SGD's technology
platform to increase margins on each home sold, the Company's
proprietary platform simplifying the homebuying experience for the
consumer, SGD's vertically integrated approach from development
through home sales being a scalable and repeatable strategy that
improves margins compared to traditional real estate development,
applying SGD's vertically integrated strategy across its parcels in
Oklahoma and Georgia, effecting profitable asset sales
along with up to a $10M investment
from Arena Global, pursuing SGD's growth strategy, completing and
selling the first six homes in the Sugar Phase I development in
Texas by Q1 2025, generating
$1.2 million in revenue for the joint
venture in the initial phase of the Sugar Phase I development,
delivering at least 40 homes across various projects for
delivery throughout 2025, generating up to $8.0 million in revenue for the Company's joint
ventures, acquiring approximately 250 single-family lots across
several different cities in the Rio Grande Valley through several
new joint ventures, leveraging the technology acquired from
Majestic World Holdings to facilitate purchases of SGD homes via
its proprietary portal, being well-equipped to capitalize on growth
opportunities in 2025, delivering sustainable and innovative
housing solutions 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 achieve rapid
growth on a defined path throughout 2025 and beyond, the Company's
ability to strategically monetize its existing land holdings as
planned and focus on a more targeted footprint, the Company's
ability to integrate its technology platform to increase margins on
each home sold, the Company's ability to scale and repeat its
vertically integrated approach to improves margins, the Company's
ability to secure a $10M investment
from Arena Global, the Company's ability to sell the first six
homes in the Sugar Phase I development in Texas by Q1 2025, the Company's ability to
generating $1.2 million in revenue
for its joint venture in the initial phase of the Sugar Phase I
development, the Company's ability to deliver at least 40 homes
across various projects throughout 2025, the Company's ability to
generate up to $8.0 million in
revenue for its joint ventures, the Company's ability to acquire
approximately 250 single-family lots across several different
cities in the Rio Grande Valley through several new joint ventures,
the Company's ability to leverage the technology acquired from
Majestic World Holdings to facilitate purchases of SGD homes via
its proprietary portal, the Company's ability to capitalize on
growth opportunities in 2025 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, 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
