MIAMI, FL--(Marketwired - Mar 28, 2017) - Metrospaces, Inc. (
Mr. Silva, Metrospaces CEO, stated: "The Venezuelan economic and political situation has deteriorated faster and further than anyone ever anticipated. Currency devaluation has rendered local banking credit lines and construction loans basically insufficient, thus making the financing of our Tulasi Mandir and Orinoco Belt Hotel very difficult at current times. We will seek to either sell or divest these assets as to allow management to focus our resources and capital on more productive projects. We will continue to focus on the development of our Ikal Wine and Lodge project and are currently in ongoing conversations with 2 U.S-based operating and profitable companies for acquisition. No assurances can be made that any deal will come out of these negotiations, however, that is where our current and future business focus will be."
See: www.ikal1150.com
About Metrospaces
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 America's and across Europe valued in excess of US $650Million.
Six years ago Metrospaces shareholders saw a unique opportunity to participate in several exciting property markets around the world. Through their worldwide 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 Metrospaces 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 Americas and across Europe valued in excess of US $450Million.
Metrospaces' majority shareholders has partnered with Investors on Elite properties including The London BLVGARI 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 CF Oscar Brito, and co-founded by Daniel Silva.
About Ikal Lodge and Winery:
Ikal Lodge and Winery is a 75 hectare wine-based vacation home/hospitality real estate project. The architectural project consists of a 25-master suite luxury hotel, a winery and 29 luxury villas that will be sold under fractional ownership. Ikal currently sells its award-winning wines in Spain, Mexico and the US. See: www.ikal1150.com .
Relevant Links: http://metrospaces.net/
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.
Metrospaces Company Contact: Tel: 305-600-0407 Investor Relations: investors@metrospaces.net
