Gifa Inc Company Update on Company's Ongoing Projects
Rhea-AI Summary
Gifa Inc (OTC PINK:GIFX) has provided an update on its ongoing Karsiyaka project. The company has completed the planning phase and is ready to move forward with implementation. The project involves developing 80 villas on 100 donum of land out of a total 234 donums available. Each villa will have a closed area of 300-400 m2, including swimming pools and gardens.
Gifa has obtained a construction permit for 30,100 m2, with an estimated cost of $1,292 per square meter, totaling $38,889,200. The projected total sales of the villas are estimated at $194,476,100. Due to financial constraints, the company is seeking a partner for collaboration rather than opting for high-interest bank loans.
Positive
- Completion of planning phase for Karsiyaka project
- Construction permit obtained for 30,100 m2
- Estimated total sales of villas at $194,476,100
Negative
- Financial limitations requiring partnership for project execution
- Potential variability in construction costs due to market conditions
News Market Reaction 1 Alert
On the day this news was published, GIFX declined 0.33%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SAN DIEGO, CA / ACCESSWIRE / July 23, 2024 / Gifa, Inc., a Nevada corporation ("GIFA," the "Company," "we," "us," and "our") (OTC PINK:GIFX) today announced an update on the company's ongoing projects.
‘The planning phase of our Karsiyaka project has been completed, and we are now ready to move forward with the implementation phase to develop villa projects,' said Mr Kisa.
‘Each villa will have a closed area of 300 to 400 m2, including swimming pools and spacious gardens. Currently, we are constructing 80 villas on 100 donum of land out of the total 234 donums available for the project. We have obtained a construction permit for a closed area of 30,100 m2, with a cost of
Due to financial limitations, they are seeking a partner to collaborate on this project instead of borrowing from banks with high-interest rates. The construction costs provided are approximate and may vary due to market.
‘We assure our shareholders that the project will be closely monitored and audited. We appreciate the trust and support of our shareholders and are excited about the successful completion of this project,'Mr Kisa added.
ABOUT GIFA INC:
GIFA, Inc., through its subsidiaries, provides financial services and consultancy, brokerage, business loans, project funding, crowdfunding advice, and consultancy to individual and corporate clients. It also offers personal and professional business development and investment advice to private clients airline representation, and corporate and leisure travel services. In addition, the company provides end-to-end supply and demand chain management services engaging in controlling and coordinating supply of materials to a range of entities that are involved in producing and delivering goods and services. Further, it engages in media business comprising newspaper and Webtv; provides consultancy, advice, assistance, and support for local businesses, as well as opportunity to access international finance; and offers local businesses and individuals small loans. The company also owns real estate and generates rent and sale income. The company was formerly known as Firefish, Inc. and changed its name to GIFA, Inc. in October 2017. GIFA, Inc. was founded in 2008 and is headquartered in Lefkosa, Cyprus.
Forward Looking Statements
This press release contains forward-looking statements. In particular, the words believe, may, could, should, expect, anticipate, estimate, project, propose, plan, intend, and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this press release about an action, event or development, are forward-looking statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions, many of which may be beyond control of the Company, that could cause actual results to differ from those in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Potential risks include such factors as the inability to enter into agreements with parties with whom we are in discussions, and factors that cannot be predicted with certainty, as well as additional risks and uncertainties. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement except as required in accordance with applicable laws.
For further information contact:
GIFA INC
Dr Fazil Kucuk Boulevard, Hamitkoy Junction
Hamitkoy, Nicosia
Mersin 10 Turkey
+903926116000
info@gifainc.net
Topic: 2024 Company's Update On Onging Projects
SOURCE: GIFA INC.
View the original press release on accesswire.com
FAQ
What is the current status of Gifa Inc's (GIFX) Karsiyaka project?
How many villas is Gifa Inc (GIFX) planning to construct in the Karsiyaka project?
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