Mr. Brito stated: "Our original agreement project owners was for an acquisition under a JV agreement, were Metrospaces acquired ownership rights after execution of the development of the hotels. Under these new agreements, Metrospaces is now a property owner in both projects. This will add further shareholder value by adding significantly to our net assets. Additionally, our ownership stakes are no longer subject to execution of development. This gives us additional options such as the right to flip the investment before we execute full construction and stabilization of the hotels. As the political tides change in Venezuela for more business-friendly governments, we are happy to give ourselves even more options for realizing our investment in these projects. Our main objective is to develop and manage these projects, however, the market could turn much higher, and thus offer us other options which we will carefully analyze in due time."
FOR A LINK TO A COMPANY FACT SHEET:
For a link to Tulasi Mandir Luxury Spa & Hotel and Santo Cristo Hotel Projects:
For a link to our other 3 hotel projects currently underway:
Metrospaces www.metrospaces.net is a publicly traded real estate investment and Development Company which acquires land, designs, builds, and develops then resells condominiums and Luxury High-End Hotels, principally in urban areas of Latin America. The company's current projects are located in Buenos Aires, Argentina, and Caracas, Venezuela. It is operated by an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the Americas and across Europe valued in excess of US $450Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their world-wide network of highly recognized real estate entrepreneurs, the company was able to capitalize on unique real estate development opportunities. Since Inception the company has leveraged those relationships along with extensive financial expertise and transformed excellence by results.
Metrospaces is a boutique real estate development company, a product of the alliance of Metrospace shareholders, along with an elite group of real estate professionals and entrepreneurs located around the world. Company shareholders have extensive careers in real estate financing worldwide, and have funded projects both in the America's and across Europe valued in excess of US $450Million.
Metrospaces' majority shareholders has partnered with Investors on Elite properties including The London BVLGARI 5 Star Hotel, and is currently involved in negotiations for the development of several Elite luxury properties in South America.
Among Metrospace partners are Architects, Real Estate Developers, Agents and Attorneys of the highest standing, with extensive experience in the global property market.
Metrospaces was originally founded by company President Oscar Brito.
Safe Harbor Statement:
Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Metrospaces Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.