InvestorsHub Logo
Followers 1505
Posts 42011
Boards Moderated 0
Alias Born 11/20/2004

Re: None

Thursday, 10/27/2005 8:51:24 AM

Thursday, October 27, 2005 8:51:24 AM

Post# of 20600
SWKJ NEWS

Press Release Source: SiteWorks Building & Development Co.

SiteWorks Building & Development Co. Announces It Has Secured Development Rights for 9,000,000 USD Upscale Project in Layan, Phuket
Thursday October 27, 8:30 am ET

MIAMI, FL--(MARKET WIRE)--Oct 27, 2005 -- SiteWorks (OTC BB:SWKJ.OB - News) has announced the company has secured the development rights and construction service contract for the Layan project in Phuket , Thailand. This is the company's second major project in Thailand. The first project previously announced is a 1,700-unit affordable housing turnkey project with a revised guaranteed maximum price of USD16,500,000.

ADVERTISEMENT
The Layan project is a nine-unit upper-income project total sales value approximately 9,000,000 USD where the houses are expected to sell for 750,000 to 2 ,000,000 USD. Plans have been completed and subcontractors are being evaluated prior to January 2006 construction start.

C Michael Nurse noted: "This project is located on a hill with beautiful ocean views . We already have expressions of interest from a number of buyers. What may make this project more attractive to non-resident buyers is that we will be able to offer 50% mortgages to foreign buyers through a local law firm who will handle the escrow for SiteWorks. This is a first for Thailand since most properties here are only bought with 100% cash."

Additional information on the project may be found on the Website. Exclusive sales agent for this project and all SiteWorks' projects in Phuket is Phuket's largest realtor, Phuket One Real Estate, managed by Larry Cunningham, the local Australian Consul to Phuket.
http://biz.yahoo.com/iw/051027/099368.html


All posts are my opinion only, for a full disclaimer please see this link http://smallurls.net/1508

Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.