Welcome to our dedicated page for Safe and Green Development Corporation news (Ticker: $SGD), a resource for investors and traders seeking the latest updates and insights on Safe and Green Development Corporation stock.
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News
Rhea-AI Summary
Safe and Green Development Corporation (SGD) provides an update on the Norman Berry Village property in Atlanta, GA, securing financing for expansion. The project aims to develop a 125,000-square-foot facility for elderly and assisted living residents, with plans for future phases and additional building amenities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
88.16%
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Rhea-AI Summary
Safe and Green Development Corporation (SGD) announces the upcoming launch of the Xene Home platform, aimed at revolutionizing real estate transactions. The platform will offer services to institutions managing REO portfolios and introduce revenue streams through SAAS memberships, agent listing referrals, and secondary services.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.27%
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Rhea-AI Summary
Safe and Green Development Corporation (SGD) has completed the acquisition of Majestic World Holdings, a real estate technology firm, and owner of the Xene AI Software platform. The acquisition includes a cash payment of $500 thousand and 500,000 shares of SG Devco restricted stock valued at $1.075 million. Matthew Barstow, MWH CEO & President, will become Senior Vice President of Innovation at SG Devco. The acquisition diversifies SG DevCo’s business interests and adds a new source of potential revenue. The XENE Platform, powered by advanced AI technology, aims to create a decentralized real estate marketplace, streamlining property transactions and offering a cost-effective alternative to traditional buyers' agent models. The platform is expected to launch in the first quarter of 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.91%
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Rhea-AI Summary
Safe and Green Development Corporation (SGD) has entered into an agreement to sell its St Mary's property to Pigmental Studios for $1.35 million. The pending sale is a result of the Company's plan to strategically monetize its real estate holdings by identifying markets where its land may have increased in value. The transaction is expected to close on or before March 1, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.79%
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Rhea-AI Summary
Safe and Green Development Corporation (SGD) collaborates with Majestic World Holdings to roll out the Xene AI Software platform, aiming to revolutionize the real estate sector. The platform, powered by advanced AI technology, is designed to create a decentralized and interconnected ecosystem, streamlining property transactions and offering a cost-effective alternative to traditional buyers' agent models. The beta launch was a success, attracting nearly 300 licensed real estate agent members in under eight hours. Post-launch, a waiting list of nearly 500 licensed real estate agents and over 100 active real estate investors was garnered, positioning 2024 as a landmark year for both organizations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.69%
Tags
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Rhea-AI Summary
Safe and Green Development Corporation (SG Devco) (NASDAQ: SGD) announces a strategic plan to monetize its real estate holdings in 2024, starting with the Contribution Agreement of Lago Vista valued at $11.5M. The company aims to identify markets where its land has increased in value due to entitlements secured over the past three years, expecting non-dilutive capital and accelerated progress of other projects. President & CEO, David Villarreal, emphasizes the strategy's alignment with minimal shareholder dilution.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.17%
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Rhea-AI Summary
Safe and Green Development Corporation (SG Devco) (NASDAQ: SGD) announces the complete acquisition of Majestic World Holdings (MWH) and its Xene AI Software platform (XENE Platform). The platform, powered by advanced AI technology, aims to create a decentralized real estate marketplace, streamlining property transactions and offering a cost-effective alternative to traditional buyers' agent models. The acquisition is expected to be completed by the end of the first quarter, with the platform launching to the public within the same timeframe. MWH has already started generating revenues from the XENE Platform, and the acquisition is anticipated to save time and resources for all parties involved. President & CEO David Villarreal expressed confidence in the successful BETA run of the platform earlier in 2023 and looks forward to diversifying SG Devco's business portfolio through this acquisition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.49%
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Rhea-AI Summary
Safe & Green Holdings Corp. (NASDAQ: SGBX) has announced that its subsidiary SG Echo has executed a Master Purchase Agreement with Safe and Green Development Corporation (NASDAQ: SGD) to manufacture modular units for real estate development projects, with an initial value of over $140 million in net revenue. The company expects the projects to exceed 4,000 units and generate gross revenue in excess of $800 million. The agreement is expected to increase factory utilization to nearly 100% and contribute to domestic job growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.21%
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Rhea-AI Summary
Safe and Green Development Corporation (SG Devco) (NASDAQ: SGD) has announced the commencement of development activities for the Lago Vista project. MNO Partners has deposited earnest money and begun conceptual design, construction pricing, and market studies. The property, originally purchased for $3.5 million, will be contributed to a joint venture with MNO Partners in exchange for a membership interest valued at $11.5 million. MNO Partners will lead the development process, with the JV expected to secure construction financing within 11 months.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.42%
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Rhea-AI Summary
Safe and Green Development Corporation (SG Devco) (NASDAQ: SGD) will contribute the Lago Vista property in exchange for a membership interest in a proposed joint venture valued at $11.5 million. MNO Partners, a community-centric real estate development firm, will lead the development process, with an estimated cost of $80 million to fully develop the property. SG Devco's subsidiary originally purchased the Lago Vista property for $3.5 million in 2021.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.86%
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Safe and Green Development Corporation
Nasdaq:SGD
SGD Rankings
SGD Stock Data
7.82M
2.92M
55.47%
1.87%
1.63%
Real Estate - Development
Real Estate
United States of America
JACKSONVILLE