Safe and Green Development Corporation Provides Expected Timeline for Joint Venture Development Portfolio

MIAMI, Dec. 27, 2024 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SGD" or the "Company"), a real estate development company, is excited to share its expected timeline for completion of its joint venture developments in Southern Texas. The timeline below is only considering the existing portfolio of joint ventures; however, the Company will look to continue to expand its portfolio of joint ventures and initiate development on its existing joint venture properties in Oklahoma and Georgia.

2025

The Company expects to complete all 35 homes in the Sugar Developments throughout 2025. Additionally, the sitework for the 57 lots at Hacienda Olivia Phase II will be completed in the first quarter of 2025. The Company then expects to build the first 20 homes of that development throughout the rest of the year. The goal for homes delivered in 2025 will be approximately 55 homes. In Q1 2025, the Company will begin the sitework for Hacienda Olivia Phase IV for a total of approximately 113 lots with completion of the sitework expected in early 2026.

2026

The Company expects to complete the remaining 37 homes from the Hacienda Olivia Phase II development throughout 2026. SGD expects to deliver 35 homes from the Hacienda Olivia Phase IV development throughout the year. The goal for homes delivered in 2026 is approximately 72 homes. Like the previous year, the Company will begin sitework on Hacienda Olivia Phase III for 77 lots in Q1 of 2026.

2027

The Company expects to complete the remaining 78 homes from the Hacienda Olivia Phase IV development throughout 2027. The Company will also look to deliver 22 homes from the Hacienda Olivia Phase III development throughout the year. The goal for homes delivered in 2027 is approximately 100 homes.

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 completing joint venture developments in Southern Texas continuing to expand the Company's portfolio of joint ventures and initiating development on existing joint venture properties in Oklahoma and Georgia, completing all 35 homes in the Sugar Developments throughout 2025, completing 57 lots at Hacienda Olivia Phase II in the first quarter of 2025, building the first 20 homes of Hacienda Olivia Phase II throughout the rest of 2025, delivering approximately 55 homes of Hacienda Olivia Phase II in 2025, beginning the sitework for Hacienda Olivia Phase IV in Q1 2025, completing the sitework for a total of approximately 113 lots for Hacienda Olivia Phase IV in early 2026, completing the remaining 37 homes from the Hacienda Olivia Phase II development throughout 2026, delivering 35 homes from the Hacienda Olivia Phase IV development throughout 2026, the year, delivering approximately 72 homes in 2026, beginning sitework on Hacienda Olivia Phase III for 77 lots in Q1 of 2026, completing the remaining 78 homes from the Hacienda Olivia Phase IV development throughout 2027, delivering 22 homes from the Hacienda Olivia Phase III development throughout 2027, delivering approximately 100 homes in 2027 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 deliver and sell finished homes for its various joint venture properties as planned, the Company's ability to expand its portfolio of joint venture investments 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, the Company's ability to obtain the capital necessary to fund its activities, the Company's ability to monetize its real estate 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. 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