MIAMI, Fla. , Nov. 21, 2023 (GLOBE NEWSWIRE) -- Safe and Green Development Corporation (NASDAQ: SGD) (“SG Devco” or the “Company”), a leading real estate development company, has recently signed a non-binding Letter of Intent (LOI) with Majestic World Holdings (“MWH”) a real estate technology firm relating to a proposed strategic partnership between SG Devco and MWH, wherein SG Devco will invest in MWH in exchange for access to MWH’s software platform Xene.
David Villarreal, President & CEO of SG DevCo, stated, “This LOI is a testament to our shared vision and commitment as it symbolizes symbolizes a strategic partnership aimed at leveraging the innovative software technology and resources of both MWH and SG Devco. The main objective in seeking to forge this strategic partnership is to create shared value by capitalizing on the unique strengths and capabilities of each party. We believe that once established, the seal of this strategic alliance will signify a crucial turning point for both organizations. We further believe this strategic partnership will pave the way for an explosive era of growth, innovation, and the expansion of opportunities within each of our companies, our stakeholders, and all who engage with our businesses.”
The XENE Platform, powered by advanced AI technology, has the goal of creating a decentralized 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. This development expects to significantly save time and resources for all parties involved. The platform streamlines property transactions, offering a cost-effective alternative to traditional buyers' agent models. Agents joining the platform can enjoy numerous benefits, including retaining their license, branding, and signs while benefiting from Xene's Arizona referral fee agreement and a simplified monthly membership structure.
Additional details about the proposed project will be communicated when the Company achieves relevant milestones.
About Safe and Green Development Corporation
Safe and Green Development Corporation is a leading 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, sourced from one of SG Holdings’ factories operated by SG Holdings’ SG Echo subsidiary. More information about SG DevCo can be found at www.sgdevco.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding SG DevCo entering into a strategic partnership with Majestic World Holdings, creating shared value by capitalizing on the unique strengths and capabilities of each party, the seal of this strategic alliance signifying a crucial turning point for both organizations, the strategic partnership paving the way for an explosive era of growth, innovation, and the expansion of opportunities within each company, their stakeholders, and all who engage with their businesses, creating a decentralized 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, significantly saving time and resources for all parties involved,and communicating additional details about the proposed project when the Company achieves relevant milestones. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include but are not limited to the Company’s ability to enter into a strategic partnership with Majestic World Holdings as planned, the Company’s ability to achieve the expected benefits of the proposed strategic partnership with Majestic World 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, including subsequent periodic reports on Forms 10-Q and 8-K.
The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
For investor relations and media inquiries, please contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
