Benzinga | Dec 8, 2021 08:55AM EST

SGB Development Corp. Shares Development Project Map

The Company provides revenue estimates for growing pipeline of development projects

SG Blocks, Inc. (NASDAQ:SGBX) ("SG Blocks" or the "Company"), a leading designer, innovator and fabricator of modular structures, announced today that SGB Development Corp. ("SGB DevCorp"), a wholly-owned subsidiary of the Company, has released a map outlining the Company's existing and currently planned development projects across the United States.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211208005104/en/

(Graphic: Business Wire)

"SGB DevCorp. is growing in size and scale in fairly short order. We remain focused on delivering existing projects and reviewing other opportunities for continued expansion," Paul Galvin, Chairman & CEO stated. "Between housing shortages and the opportunities in the new infrastructure bill, we believe we are well positioned to rapidly grow our platform."

These projects are intentionally diverse in geography and asset class to help reduce risk and to maximize returns. SGB DevCorp includes a pipeline of approximately 2,250 residential units for sale or rent and letter of intents have been executed for an industrial site and quarry. The potential gross revenue is represented below:

* Approximately $367 million dollars in gross potential manufacturing revenue over the next 4-5 years for SG Echo's manufacturing factories due primarily from the Lago Vista, McLean, Cumberland and Norman Berry projects.

* Approximately $50-$70 million dollars in asset sales and earned development fees related to the current pipeline of SGB DevCorp projects.

* Approximately $40 million in gross potential revenue related to the quarry and industrial site projects currently under letters of intent estimated over the next 5-year period.

SGB DevCorp currently has projects located in Oklahoma, Texas, Georgia, Maryland, Virginia, and New York, with plans in place to scale and expand. Strategies range from factories to workforce housing, residential developments, mixed-use communities, and townhomes.

"We continue to believe in a strategy of filling factories with our own projects to create an integrated revenue stream," Paul Galvin noted.

SG DevCorp's current roster can be found in the imbedded graphic. The Company looks forward to sharing further updates on its pipeline of development projects.