Safe and Green Development Corporation Inks Contracts to Sell Out 1st Phase of Sugar Joint Venture Developments

MIAMI, Feb. 14, 2025 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) (the "Company") is pleased to announce that all 5 homes from the 1^stt phase of the Sugar Joint Venture with Milk & Honey, LLC have all gone under contract. These transactions mark a significant milestone in the Company's ongoing real estate initiatives and reflect the demand for high-quality housing in the region.

As a result of successful marketing efforts by the Company and its Realty partners the following properties are now under contract for sale with closing expected on or about April 11, 2025:

• 3005 Rio Red Circle in Edinburg, Texas under contract for $195,000
• 2939 Rio Red Circle in Edinburg, Texas, under contract for $195,000
• 2965 Rio Red Circle in Edinburg, Texas, under contract for $195,000
• 2953 Rio Red Circle in Edinburg, Texas, under contract for $195,000
• 230 N Pino Street in Weslaco, Texas, under contract for $170,000

The successful marketing of these properties was led in partnership by the Company, Madilyn Garza of Element Realty and Jose Lopez of the Opulent Real Estate Group, whose efforts played a key role in generating interest and securing buyers.

As previously announced, the Company expects to receive permits and begin construction on the next set of 7 homes which is expected to be completed and ready for market by Q2 2025. This pace sets the Company on track to complete its previously announced goal of 55 homes for 2025.

About Safe and Green Development Corporation (SG Devco)

Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses primarily on the direct acquisition and indirect investment in properties nationally that will be further developed in the future into green single or multi-family projects. Additionally, a wholly owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created a real estate AI Platform the Company integrates to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance. 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.

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 closing the sale of five properties from the first phase of the Sugar Joint Venture with Milk & Honey, LLC on or about April 11, 2025, receiving permits and beginning construction on the next set of 7 homes, completing the next set of 7 homes and having them  ready for market by Q2 2025, being on track to complete the Company's previously announced goal of 55 homes for 2025, using Majestic World Holdings LLC's real estate AI Platform to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance and MyVONIA simplifying daily tasks and improve productivity for individuals and businesses.

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 close the sale of five properties from the first phase of the Sugar Joint Venture with Milk & Honey, LLC as planned, the Company's ability to have the next set of 7 homes ready for market by Q2 2025, the Company's ability to achieve its goal of 55 homes for 2025, the Company's ability to use Majestic World Holdings LLC's real estate AI Platform to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance, MyVONIA's ability to simplify daily tasks and improve productivity, 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
[email protected]
516-662-9461

SOURCE Safe and Green Development Corporation