Cuentas Taps Two New Properties for Its Sustainable Communities Initiative, Announcing Development Plans for Another 55+ Acres and 670+ Apartments As Company Accelerates its Goal of Becoming the Leader in Creating Affordable, Accessible, Sustainable Hous
MIAMI BEACH, Fla., June 14, 2023 /PRNewswire/ -- Cuentas, Inc. (Nasdaq: CUEN) (Nasdaq:CUENW) ("Cuentas"), the Company that is creating an alternative financial ecosystem for a hard working population who do not have access to traditional financial alternatives, today announced that it is accelerating its Cuentas Casa sustainable community development initiatives with two new land purchase agreements, the first, a 28.4 acre lot, contemplated for development of a 370 multi-family unit apartment complex in Davenport, just southwest of Orlando, Florida, and the second, consisting of 27.2 gross acres of which 7.6 are to be set aside as a conservation area, contemplated for the development of 300 Cuentas Casa apartments, located on the Northeast coast of Florida, 31 miles south of Saint Augustine and 24 miles north of Daytona Beach. All permits and entitlements come with the properties, providing what management believes adds an additional edge to its rapid development initiatives, reducing costs and accelerating time to market through the entire development project. Management is accelerating its strategy and expects to move to definitive agreements within the next 90 days, then directly into development. These moves are part of Cuentas Casa's initiative to take advantage of the financial pressure being put on traditional developers but utilizing the Company's cost-efficient, alternative building technologies to grow more aggressively in this challenging market. These announcements come on the heel of Management's recent announcement of its 28 acre Ocala initiative.
- Management is accelerating its strategy and expects to move to definitive agreements within the next 90 days, then directly into development.
- These announcements come on the heel of Management's recent announcement of its 28 acre Ocala initiative.
- "We believe that Cuentas' development technology gives us a critical advantage during a time when other developers are facing increasing financial pressure."
- "With interest rates increasing, developers are having a greater challenge in financing development," said Cuentas Co-founder and President, Michael De Prado.