Emvelco Corp. Announces Plans to Develop Three Real Estate Properties in Los Angeles
LOS ANGELES -- Today, Emvelco RE Corp., a partially owned subsidiary of Emvelco Corp., announced plans to develop three properties in Los Angeles' Miracle Mile district. All three properties will be developed into single family residences expected to be completed during the coming year.
"The plan to develop these three properties brings us one step closer to providing more single family homes to families across the greater Los Angeles area," said Yossi Attia, President and CEO of Emvelco Corp. "We want to provide residences which appeal to potential residents and makes them happy to come home."
This announcement comes after the closure of two real estate transactions on January 17 and 18, 2007 and culminates the purchase of the two properties located on Edinburgh Avenue and Laurel Avenue. The other property is the Harper Property which was purchased in September, 2006. Each property was acquired for approximately $1,000,000.
Emvelco Corp. recently shifted its focus to major real estate projects and to other areas through various joint ventures. The Company, now based out of Los Angeles, will continue its construction of Verge Living, a project consisting of 296 condominium units and 35,000 square feet. of retail space in Las Vegas, Nevada. Emvelco is also looking to develop other sites in Las Vegas, Los Angeles and throughout the United States.
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Emvelco Corp.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contacts
For Emvelco RE Corp.
Georgia Godfrey, 949-296-1520
"The plan to develop these three properties brings us one step closer to providing more single family homes to families across the greater Los Angeles area," said Yossi Attia, President and CEO of Emvelco Corp. "We want to provide residences which appeal to potential residents and makes them happy to come home."
This announcement comes after the closure of two real estate transactions on January 17 and 18, 2007 and culminates the purchase of the two properties located on Edinburgh Avenue and Laurel Avenue. The other property is the Harper Property which was purchased in September, 2006. Each property was acquired for approximately $1,000,000.
Emvelco Corp. recently shifted its focus to major real estate projects and to other areas through various joint ventures. The Company, now based out of Los Angeles, will continue its construction of Verge Living, a project consisting of 296 condominium units and 35,000 square feet. of retail space in Las Vegas, Nevada. Emvelco is also looking to develop other sites in Las Vegas, Los Angeles and throughout the United States.
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Emvelco Corp.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contacts
For Emvelco RE Corp.
Georgia Godfrey, 949-296-1520
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.