Cielo Mar Topography Reveals Beneficial Features, Master Plan Underway, First Lot Reservations
(firmenpresse) - BLOOMFIELD TOWNSHIP, MI -- (Marketwired) -- 05/03/17 -- ProGreen US, Inc. (ProGreen), (OTCQB: PGUS), , (at)ProGreenUS, is a US company engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) and through its majority-owned Mexican subsidiary Procon Baja JV (Procon), .
Procon is the developer of Cielo Mar, a 5,000 acre oceanfront residential/resort project in Baja California.
With architects now actively working on the Cielo Mar master plan, Procon is pleased to communicate that the first offer for reservations of residential lots (total 30) -- opened on April 11 -- has achieved stronger than expected results at this early stage. As of today, the company has executed reservations agreements for 16 lots, representing a gross sales value of $1,180,000. Five oceanfront lot reservations also include commitments for early building, representing an additional value of $1,500,000 (assuming 3,000 sq.ft. homes). With over half of the 30 lots now reserved, this first offer may already be closed within the month of May.
The topographical plans of the Cielo Mar site have been completed and are now posted on the development''s website. These maps illustrate a terrain gradually ascending to an elevation of 250 ft within a mile of the shoreline, continuing to a high point of 900 ft. This provides for spectacular ocean views from a large portion of the development. In addition, the topography revealed a natural land cutout that could be suitable for building a more natural, inland marina.
Preliminary plans for the first execution phase include the marina, one of three planned golf courses, upwards of 1,500 single family home sites, as well as hotels, condominiums, sports facilities, bars, restaurants, shops and other amenities.
Further details regarding the Cielo Mar development can be found at .
PROGREEN US, INC., , based in Bloomfield, Michigan, is engaged primarily with investments in agricultural and real estate projects in Baja California, Mexico, both through its joint venture partnership with Inmobiliaria Contel S.R.L.C.V. (Contel) as well as through its majority-owned Mexican subsidiary Procon Baja JV (Procon). Contel is now active in the high margin produce industry, growing crops for exporters to the US market, with an abundance of land available for expansion under our JV partnership. Procon has recently acquired 5,100 acres of land with 4.7 miles of oceanfront on the Bay of El Rosario, for which a master plan is being drawn for the development of a very large, totally green, international vacation and retirement community called "Cielo Mar."
Independent Stock Message Forum:
This press release might contain information, which may constitute ''forward-looking statements'' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. ''Forward-looking statements'' are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated.
Jan Telander
President and CEO
Phone: 1 (248) 805-3652
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Datum: 03.05.2017 - 06:00 Uhr
Sprache: Deutsch
News-ID 1502093
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