Befut Global Inc. commences Befut commnces Preconstruction Phase of a 500 Unit Housing project Near Gaspar Hernandez, DR
Befut Global Inc.(BFTI:OTC Markets) commences Preconstruction Phase of a 500 Unit Housing project Gaspar Hernandez, DR
Befut Global Inc., a real estate project development company has retained the Santo Domingo based Firm of Leon & Rafulto conduct the site survey and title work for its housing project in Gaspar Hernandez., DR.
The Auto-Cad version of the site survey is expected to be completed by early December 2018 and will enable to company to complete the planning and the design for the planned community of 500 affordable housing units and apply for the building permit in January of 2019. .
The project is being built pursuant to a previously disclosed JV agreement executed between the property owners and Befut Global. Under the terms of the JV. the land is pledged to the JV. As the units are sold the property owners will be paid on a prorata basis for each lot as the units are sold.
The project will be called Gaspar Homes will target the Global expatriate market, specifically aimed at Europe and the US, specifically New York and Miami. The planned community will offer modern hurricane resistant housing built to the rigorous hurricane resistant South Florida Building code standards. Prices start at US$120,000 for a 3 bedroom 2 bath houses of 130 square meters.
Carl Nurse, Managing Director of Befut noted
'We expect construction of the model units to start in the first quarter of 2019.
The LEED certifiedhouses will feature solar panels for power with backup batteries. Buyers can have a basic unit (loft style without finishes) or a fully completed unit with finishes and appliances at slightly higher prices.
We hope we will be able to sell all units from the model units very quickly since the price point would be very attractive to our target market demographic.
We offer an affordable deposit structure (40%) and easy progress payments (30%, 30%) or optionally local mortgages may available with 30 to 50 % deposit.
Gross sales volume for the completed project is projected to be approximately US$75,000,000.’
Construction of the units will be managed by City Building Works, PR., using a construction method patented by Bond Building Systems of Ft. Lauderdale under a licensing agreement with the Bond distributor for the Caribbean .The Bond System allows for construction of the basic housing structure in less than 5 days after foundations are built using shotcrete.
Preliminary rendering of Gaspar Homes (actual house design may change)
Carl Nurse further noted Befut has other executed JV agreements wherein the company has significant land pledged to support the development of a Hotel and a factory in the Caribbean and South America, execution of each are subject to funding.
The Gaspar Housing project will be the first of two projects in the Dominican Republic.
The second project for which will we will start site work in late 2019, is a Beachfront site Barahona and will be a flagged resort Hotel.
Forward Looking Statements
This press release contains ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as ''may,'' ''will,'' ''expects,'' ''intends,'' ''plans,'' ''projects,'' '' estimates,'' ''anticipates,'' or ''believes'' or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Annual Reportfor the year ended December 31, 2016 and its other filings and submissions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Befut Global Inc. (BFTI)
BFTI. and its affiliates (“Company”), acquire land via joint ventures with owners, perform site development and construction services and then sell the built real estate projects. The Company earns income from the sale of the properties on completion of construction.
305 890 8246
Carl Nurse Befut Global Inc.
Phone: 917 521 9012,
Email: [email protected]
SOURCE: Befut Global Inc.
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