SKYX Signs Agreement with Prominent U.S. and International Real Estate Developers Global Ventures Group to Deploy its Advanced Smart Home Technologies to Buildings and Hotels in Middle East Projects Including Saudi Arabia and Egypt
Rhea-AI Summary
SKYX (NASDAQ: SKYX) announced an agreement with Global Ventures Group to deploy SKYX smart home and smart building technologies across Middle East residential, commercial, and hotel projects, including Saudi Arabia and Egypt, announced Oct 30, 2025.
The partnership foresees SKYX supplying tens of thousands of homes and hotel rooms and hundreds of thousands of product units—including smart home platform devices, ceiling lighting, fans, recessed/down lights, EXIT and emergency lights, indoor/outdoor wall lights, and plug-in LED mirrors. SKYX expects recurring revenue from monitoring, subscriptions, and AI services plus future product upgrades and platform integrations.
Positive
- Agreement covers projects in Saudi Arabia and Egypt
- Plan to deploy into tens of thousands of homes and hotel rooms
- Expected supply of hundreds of thousands product units
- Potential recurring revenue from monitoring, subscriptions, and AI services
Negative
- Statements are forward-looking and expected, not guaranteed
- No quantified revenue, timeline, or binding purchase order disclosed
News Market Reaction
On the day this news was published, SKYX declined 5.14%, reflecting a notable negative market reaction. Argus tracked a peak move of +7.0% during that session. Argus tracked a trough of -11.4% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $11M from the company's valuation, bringing the market cap to $198M at that time.
Data tracked by StockTitan Argus on the day of publication.
During the Course of the Agreement Global Ventures Group Plans to Deploy SKYX’s Smart Technologies into Tens of Thousands of Homes and Hotel Rooms
SKYX Expects to Deploy Hundreds of Thousands of Products into Massive Growth of Middle East Projects
SKYX’s Technologies are Expected to Offer Long-Term Recurring Revenue Opportunities Through Monitoring, Subscriptions, and AI Services, in Addition to Product Upgrades, Interchangeability and Platform-Wide Integrations for Future Developments
MIAMI, Oct. 30, 2025 (GLOBE NEWSWIRE) -- SKYX Platforms Corp. (NASDAQ: SKYX) (d/b/a SKYX Technologies) (the “Company” or “SKYX”), a highly disruptive platform technology company with over 100 pending and issued patents globally and over 60 lighting and home décor websites, with a mission to make homes and buildings become smart and safe as the new standard, today announced that it has entered into an agreement with Global Ventures Group, a leading U.S. and international real estate development firm based in Chicago, Illinois. Under the agreement, SKYX’s advanced smart home and smart building technologies will penetrate residential, commercial, and hotel projects across the Middle East, including developments in Saudi Arabia and Egypt. The collaboration marks a significant step in SKYX’s global expansion strategy as it continues to advance its mission to make homes and buildings smarter, safer, and more connected as the new standard.
The Global Ventures Group is led by Randall Langer, Founder and CEO, and a member of the U.S. Chamber of Commerce, participating in initiatives and councils in the Middle East and North Africa Region.
SKYX is expected to supply hundreds of thousands of units of its advanced and smart home technologies, including SKYX’s all-in-one smart home platform, its plug & play ceiling lighting, ceiling fans, recessed lights, down lights, EXIT signs, emergency lights, indoor and outdoor wall lights, plug-in LED mirrors, among other advanced smart products.
Randall Langer, Global Ventures Group Founder and CEO, said, “We are excited to collaborate with SKYX to bring their smart home and innovative technologies into our upcoming Middle East projects in Saudi Arabia and Egypt. As the founder of the Global Ventures Group and as a member of the U.S. Chamber of Commerce, our goal is to deploy leading and highly disruptive U.S. technologies into international projects. By integrating SKYX’s technologies in the Middle East, we are advancing the standards of safety, convenience, and design for communities throughout the region, and we look forward to expanding this collaboration and related initiatives with SKYX throughout future developments.”
For information about Global Ventures Group, visit https://www.gvgrp.com/
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said; “We are excited to be working with a prominent U.S. and international developer such as the Global Ventures Group. We look forward to collaborating with them on international projects to enhance the value of buildings and hotel projects in the region while creating safer, advanced, and smart homes and buildings for the future.”
To view SKYX's Technologies demo video CLICK HERE
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced-safe-smart platform technologies, with over 100 U.S. and global patents and patent pending applications. Additionally, the Company owns over 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com/ or follow us on LinkedIn.
Forward-Looking Statements
Certain statements made in this press release are not based on historical facts but are forward-looking statements. These statements can be identified by the use of forward-looking terminology such as “aim,” “anticipate,” “believe,” “can,” “could,” “continue,” “estimate,” “expect,” “evaluate,” “forecast,” “guidance,” “intend,” “likely,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “probable,” “project,” “seek,” “should,” “target” “view,” “will,” or “would,” or the negative thereof or other variations thereon or comparable terminology, although not all forward-looking statements contain these words. These statements reflect the Company’s reasonable judgment with respect to future events and are subject to risks, uncertainties and other factors, many of which have outcomes difficult to predict and may be outside our control, that could cause actual results or outcomes to differ materially from those in the forward-looking statements. Such risks and uncertainties include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its products and technologies and integrate its products and technologies with third-party platforms or technologies; the Company’s efforts and ability to drive the adoption of its products and technologies as a standard feature, including their use in homes, hotels, offices and cruise ships; the Company’s ability to capture market share; the Company’s estimates of its potential addressable market and demand for its products and technologies; the Company’s ability to raise additional capital to support its operations as needed, which may not be available on acceptable terms or at all; the Company’s ability to continue as a going concern; the Company’s ability to execute on any sales and licensing or other strategic opportunities; the possibility that any of the Company’s products will become National Electrical Code (NEC)-code or otherwise code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all; risks arising from mergers, acquisitions, joint ventures and other collaborations; the Company’s ability to attract and retain key executives and qualified personnel; guidance provided by management, which may differ from the Company’s actual operating results; the potential impact of unstable market and economic conditions on the Company’s business, financial condition, and stock price; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission, including its periodic reports on Form 10-K and Form 10-Q. There can be no assurance as to any of the foregoing matters. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by U.S. federal securities laws.
Investor Relations Contact:
Jeff Ramson
PCG Advisory
jramson@pcgadvisory.com
FAQ
What did SKYX (SKYX) announce on Oct 30, 2025 about Middle East projects?
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