DARKSTAR VENTURES FINALIZES INITIAL TAMA 38 RECONSTRUCTION PROJECT WITH PROJECTED PROFITS OVER $2 MILLION, COMPANY PREPARES TO
December 12 2017 - 8:47AM
InvestorsHub NewsWire
DARKSTAR VENTURES FINALIZES INITIAL TAMA
38 RECONSTRUCTION PROJECT WITH PROJECTED PROFITS OVER $2
MILLION, COMPANY PREPARES TO BREAK GROUND ON
CONSTRUCTION
Jerusalem, Israel -- December 12,
2017 -- InvestorsHub NewsWire -- DARKSTAR VENTURES, INC. (OTC:
DAVC) and Subsidiary, Bengio
Urban Renewal, announce the first of building projects that the
Company has established for the demolition of a building consisting
of 12 units, and the construction of 36 units in its place.
“Because compromised structures and older
buildings needing to be brought up to code are numerous, Tama 38
was established and provides all, from the government to the
tenant, a lucrative opportunity to greatly benefit. With the
potential profit margins involved, we are focused on the signing
and establishment of many properties, and are very pleased that the
first in this process has been secured.” stated ,
Avraham Bengio, CEO, Darkstar Ventures Inc.
This agreement represents an excellent opportunity for Bengio,
whereas upon completion the Company can yield an outstanding rate
of return, calculated to exceed 2 million dollars, earning full
ownership of all additional property built above the original
restructured building.
TAMA 38, is a mutually advantageous
Israeli construction program initiated for fortification of the
building through the strengthening or rebuilding of older and
compromised buildings. Developers are able to build additional
levels above existing apartment buildings in exchange for needed
improvements such as fortification, and the addition of features
such as elevators, balconies, safe rooms or parking.
Bengio Urban Renewal, founded by veteran
real-estate entrepreneurs and expert professionals in the
construction field, specializes in the building reinforcement and
reconstruction in Israel.
Endeavors continue underway, and the
Company has sharpened it’s focused on preparations for the launch
of projects under the Tama Classification, a National Outlined Plan
encompassing 38 construction grants yielding rights to tenants
whose buildings require fortification in order to meet current
codes and updated standards. These rights are transferred to the
developer contracted to build additional levels above existing
apartments, enabling this new real estate to be sold for profit in
the open market.
Forward-Looking Statements: Certain
matters discussed in this press release may be forward-looking
statements. Such matters involve risks and uncertainties that
may cause actual results to differ materially, including the
following: changes in economic conditions; general competitive
factors; the Company's success in obtaining new customers; the
Company's ability to execute its business model and strategic
plans; the Company's success in integrating acquired entities and
assets, and all the risks and related information described from
time to time in the Company's filings with the Securities and
Exchange Commission ("SEC"), including the financial statements and
related information contained in the Company's Annual Report on
Form 10-K and interim Quarterly Reports on Form 10-Q. The
Company assumes no obligation to update the cautionary
Information in this release.
SOURCE DARKSTAR VENTURES, INC.