Metrospaces Enters into JV Agreement to Develop 9 High-End Villas in The Dominican Republic
New York - (NewMediaWire) - July 15, 2021 - Metrospaces, Inc. (OTC: MSPC) will develop 9 high-end villas and a 4000 sft home that will be incorporated into its Co-Living platform.
With a launch date of September 15th, for its co-living platform MetroHouse (up-coming web site), Metrospaces is focused on acquiring units that will be incorporated into it. Metrospaces’ co-living strategy will be focused on secondary cities and digital nomad destinations. The Dominican Republic is an established digital nomad destination that caters to high-end digital workers that roam the world to first-class destinations. The co-development will be done by local architect firm, Inarchi Architects.
“Our plan is to have at least 15-20 rooms incorporated into our platform by September 15th launch date, and aim at having at least 100-120 total rooms by end of 2021. Philadelphia will be our first US city, with Dominican Republic as our first international city. This is a very exciting development because, as developers we can use sale proceeds of a portion of the villas to finance the construction, while keeping the management of the villas for our platform. This will keep our cash investment low, while retaining the most profitable, long-term part of the project’s revenue. It’s also exciting as we build real estate inventory to incorporate into our up-and-coming tokenization platform that should go live by beginning of 4th quarter. We think the tokenization space will be won by those that offer the most compelling real estate assets, and the co-living platform will provide future token buyers an opportunity for outsized returns with small amounts of investments, as opposed to having to acquire an entire villa, for example,” Mr. Brito said.
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Source: Metrospaces, Inc.