Core Viewpoint - Safe and Green Development Corporation has achieved a significant milestone by completing 50% of its Sugar Phase I project in South Texas, which is crucial for its strategy to deliver high-quality single-family homes in growing communities [1][3][5]. Project Progress - The Sugar Phase I project is now halfway through construction and is on track for completion before the end of 2024, reinforcing the company's commitment to meeting housing demands [3][5]. - The company plans to launch a marketing campaign to sell the homes in the Sugar Phase I project, utilizing its proprietary digital platform to enhance the homebuying process [4][5]. Company Strategy - The company focuses on developing innovative housing solutions using purpose-built, prefabricated modules made from wood and steel, aiming to create strong and green single or multifamily projects across various income and asset classes [6]. - A majority-owned subsidiary, Majestic World Holdings LLC, has developed a real estate AI platform designed to decentralize the real estate marketplace, integrating various stakeholders into a structured AI-driven environment [6].

MIAMI, Nov. 20, 2024 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SG Devco" or the "Company"), a real estate development company, is pleased to announce that it closed the sale of its St Mary's Property to Pigmental Studios for $1.4 million on November 18, 2024. The Company realized approximately $1.1M in net proceeds from this closing.The property was sold as part of the Company's previously announced goal to strategically monetize some of its real estate holdings that have increa ...

Core Insights - Safe and Green Development Corporation reported financial results for Q3 2024, highlighting significant operational and financial developments [1][2]. Operational Highlights - The company secured an investment of up to $10 million from Arena Investors [1]. - Expanded its project pipeline with three joint ventures in South Texas [1]. - Regained compliance with NASDAQ's minimum bid price requirement [1]. - Initiated construction on six homes and closed a construction loan in South Texas [1]. Financial Highlights - Revenues for Q3 2024 were reported at $81,210 [1]. - The GAAP net loss totaled $2,342,002 [1]. - Adjusted EBITDA for the quarter was ($900,881) [1][5]. - The company aims to generate revenue from the sale of the St. Mary's property in Q4 2024, with expected revenue of approximately $1,200,000 from the first phase of the Sugar Phase 1 Development [1]. - The goal is to deliver and sell a minimum of 40 homes throughout 2025, generating approximately $8,000,000 in revenue [1]. Strategic Outlook - The CEO expressed confidence in the company's business plan to integrate development and technology assets for sustainable revenue growth [1]. - The CFO noted a reduction in operating expenses by approximately $135,000 since the end of Q3 2024, emphasizing efficient operations and responsible growth [1].

Core Insights - Safe and Green Development Corporation (SG Devco) has closed its first construction loan in company history, amounting to approximately $554,222, which will facilitate the construction of homes in the Sugar Phase I project [1][3]. Project Overview - The Sugar Phase I project is currently underway and is expected to deliver finished homes by early Q1 2025. The loan will provide additional working capital to ensure timely and budget-compliant delivery of the homes [2][4]. - The Joint Venture anticipates generating approximately $1,000,000 in revenue from the sale of the homes, with net profits projected at around $380,000 after accounting for interest and other project-related expenses. These financial metrics are expected to be consistent across the entire 35-unit development [3]. Company Background - SG Devco, formed in 2021, focuses on developing real estate using purpose-built, prefabricated modules made from wood and steel. The company aims to create strong, innovative, and environmentally friendly single or multifamily projects across various income and asset classes [4]. - A majority-owned subsidiary, Majestic World Holdings LLC, has developed a real estate AI platform designed to decentralize the marketplace, integrating various stakeholders into a structured AI-driven environment [4]. - MyVONIA Innovations LLC, a wholly owned subsidiary, offers an AI-powered personal assistant aimed at enhancing productivity for individuals and businesses [4].

Company Achievements - YY Group Holding Limited's subsidiary, Hong Ye Group, has secured significant contracts totaling SGD$4,698,449, enhancing its portfolio and solidifying its role as a trusted facility management provider [1][3] - The contracts span diverse industries, including hospitality, corporate, and healthcare, with notable clients such as Shangri-La Hotel, Ninja Van, and Methodist Welfare Service [3][4] - A landmark achievement is Hong Ye Group's first-ever main contract for a nursing home, awarded by Methodist Welfare Service, marking its entry into the healthcare sector with a focus on eldercare facility management [2][3][5] Strategic Expansion - The Methodist Welfare Service contract represents a strategic expansion into the healthcare and eldercare facility sector, aligning with Singapore's aging population and increasing demand for quality eldercare [5] - This contract allows Hong Ye Group to extend its expertise into eldercare, fostering environments that promote dignity, safety, and well-being for elderly residents [5][6] Commitment to Quality - Hong Ye Group is committed to delivering high-quality facility management services, as evidenced by its new contracts with prestigious clients and its focus on operational efficiency and customer satisfaction [3][7][9] - The company aims to set new benchmarks in facility management standards, particularly in the nursing home sector, where it seeks to make a positive impact on the community [6][7] Company Overview - YY Group Holding Limited is a Singapore-based data and technology-driven company specializing in enterprise intelligent labor matching services and smart cleaning solutions [8] - Hong Ye Group, a subsidiary of YY Group, is renowned for its exceptional facility management services across hospitality, corporate, and healthcare sectors [9]

Core Viewpoint - Safe and Green Development Corporation has commenced construction on its Sugar Phase I project in South Texas, which aims to address the growing demand for high-quality housing in the region [1][2][3]. Company Overview - Safe and Green Development Corporation, formed in 2021, focuses on real estate development using prefabricated modules made from wood and steel, aiming to create innovative and sustainable housing projects across various income and asset classes [4]. - The company has a majority-owned subsidiary, Majestic World Holdings LLC, which has developed a real estate AI platform designed to integrate various stakeholders in the real estate market [4]. - Another subsidiary, MyVONIA Innovations LLC, offers an AI-powered personal assistant to enhance productivity for individuals and businesses [4]. Project Details - The Sugar Phase I project will consist of 5 single-family homes, marking a significant step in SG Devco's strategy to provide quality housing in South Texas [2][3]. - Construction has progressed rapidly, with the foundation already poured and framing expected to be completed shortly [3]. Leadership Insight - David Villarreal, CEO of SG Devco, emphasized the importance of starting construction on Sugar Phase I as a response to the increasing housing demand in South Texas and as a foundation for future developments [3]. Transparency and Community Engagement - The company is committed to transparency and community engagement, as evidenced by the release of a video showcasing the project's milestones and current status [3].

MIAMI, Oct. 23, 2024 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SG Devco" or the "Company"), a leading real estate development company, announces that it has poured the foundation for its first home in South Texas.The Company previously announced that it secured financing terms for the vertical construction of the Company's model home. The home is expected to be delivered in the next 75 days.This home is the precursor to the Company's Sugar Phase I Development which recently rece ...

Core Viewpoint - The recent reverse stock split of Safe and Green Development Corporation (SG Devco) was necessary to maintain NASDAQ listing requirements, but the market capitalization has significantly decreased without any fundamental changes to the business [2][3]. Company Overview - Safe and Green Development Corporation is a real estate development company formed in 2021, focusing on environmentally conscious housing using prefabricated modules [5]. - The company has a majority-owned subsidiary, Majestic World Holdings LLC, which has developed a real estate AI platform aimed at decentralizing the real estate marketplace [5]. Financial Performance - Following the reverse stock split, the company's market capitalization dropped from approximately $5 million to $2.5 million, despite real estate assets being appraised at around $50 million [3]. - The current market capitalization is viewed as not reflective of the company's actual value, given the strategic acquisitions and joint ventures that have occurred over the past year [4]. Strategic Initiatives - The company is positioned to execute its business plan focused on developing safe and environmentally conscious housing, with expectations for revenue generation primarily from the South Texas growth market starting in 2025 [4][7]. - Management is prepared to accelerate growth initiatives throughout Q4 and into 2025, leveraging recent strategic repositioning [5][7].

Core Insights - Safe and Green Development Corporation has completed all site work for the first phase of its Sugar Phase I project in South Texas, marking a significant milestone for the company [1][2][4] - The company expects to deliver the first phase of homes, totaling 35 units, by Q1 2025 and plans to sell all homes to Trio, the Program Administrator for Choctaw American Insurance, Inc., within that quarter [3][4] Company Overview - Safe and Green Development Corporation, formed in 2021, focuses on developing real estate using purpose-built, prefabricated modules made from wood and steel, aiming to create strong, innovative, and green housing projects across various income and asset classes [4] - The company also has a majority-owned subsidiary, Majestic World Holdings LLC, which has developed a real estate AI platform designed to decentralize the real estate marketplace, integrating various stakeholders into a structured AI-driven environment [4] - MyVONIA Innovations LLC, a wholly owned subsidiary, offers an AI-powered personal assistant aimed at simplifying daily tasks and enhancing productivity for individuals and businesses [4]

MIAMI, Oct. 9, 2024 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SG Devco" or the "Company") a leading real estate development company focused on sustainable and eco-friendly projects, is pleased to announce that it has accepted a preliminary binding purchase commitment from Trio, as Program Administrator for Choctaw American Insurance, Inc. ("Choctaw"), for its development project in South Texas. The sale of the first 5 homes, referenced in the commitment, is expected to generate ...