Cuentas, Inc. Plans exponential growth in the thriving South Florida real estate landscape in 2024, anticipating lower interest rates, and harnessing the power of cost-efficient and weather-resistant composite building technology from Renco USA. This visionary approach propels Cuentas, Inc., to the forefront of the region's real estate boom, setting the stage for exponential success in the dynamic landscape of multifamily development.
MIAMI BEACH, FL, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Cuentas, Inc. (OTC: CUEN & CUENW) (“CUEN” or “the Company”), the foremost developer of fully integrated real estate, telecommunications, and financial applications for the unbanked and underbanked Hispanic market, has officially announced its strategic intentions to broaden its real estate construction ventures in South Florida. This follows the success of its inaugural project in Palm Springs, Florida, where the Lakewood Village apartment buildings were meticulously crafted with a composite material and designed to endure the onslaught of a Category 5 hurricane, thereby ensuring durability while also minimizing construction costs.
The decision comes at a pivotal time as the frequency and intensity of extreme weather events escalate due to climate changes affecting the planet. This vulnerability to hurricanes is particularly pronounced across the entire state of Florida, resulting in a surge in insurance rates and the need to build durable and low-cost housing.
Looking forward, the anticipated reduction in mortgage interest rates in 2024 is poised to catalyze incentives for affordable, weather-resistant, and expeditious construction projects. Cuentas is gearing up to play a pivotal role as a direct developer and investor in the flourishing real estate market. Over the last five years, Florida's home values have skyrocketed by an impressive 80%, and a positive trajectory is forecast for the next half-decade.
Tampa, distinguished as the top real estate market in 2022 by Zillow, has experienced noteworthy spikes in housing prices. Despite the prevailing seller-friendly conditions in the robust Florida market, the potential of lower mortgage rates may entice prospective buyers to make significant property acquisitions. Cuentas, which holds a majority stake in its Tampa project, is poised to break ground in 2024.
Cuentas management's visionary approach is guaranteed in a 10-year supply agreement with Renco USA, the trailblazing manufacturer of modular building technology. The plastic blocks break at 16,000 PSI, which is 10 times stronger than traditional concrete. There is no need to use specialized tools or heavy equipment, and the building flies up with a construction crew following a color-coded diagram while snapping together the pieces. Construction costs are 20 percent less expensive than traditional construction, leading to lower insurance rates.
This innovative construction method has transformed the landscape of real estate development, offering robust and long-lasting housing solutions for lower-income families—aligning seamlessly with Cuentas' commitment to this demographic through its Cuentas Casa product line.
In anticipation of the upcoming annual shareholder meeting, the company has recently disseminated a comprehensive Shareholder Letter penned by the CEO. The letter delves into CUEN's 2024 business forecast, plans for further enhanced profitability, and the latest strides made in its impending acquisition.
For shareholders eager to actively participate, the company is gearing up for its Annual Meeting of Shareholders. The proxy vote, instrumental in shaping the company's future, is conveniently accessible on the official company website (www.cuentas.com/vote). To address any queries or concerns, shareholders are encouraged to reach out to the Voter Support team via email at vote@cuentas.com. Additionally, shareholders can obtain their voting information and instructions on the company's dedicated online voting platform. Cuentas remains committed to fostering transparency and shareholder engagement as it charts an exciting course for the future.
About Cuentas
Cuentas, Inc. (OTC: CUEN & CUENW) is creating an alternative financial ecosystem for the growing global population who do not have access to traditional financial alternatives. The Company’s proprietary technologies help to integrate FinTech (Financial Technology), e-finance and e-commerce services into solutions that deliver next generation digital financial services to the unbanked, under-banked and underserved populations nationally in the USA. The Cuentas Platform integrates Cuentas Mobile, the Company’s Telecommunications solution, with its core financial services offerings to help entire communities enter the modern financial marketplace. Cuentas has launched its General Purpose Reloadable (GPR) Card, which includes a digital wallet, discounts for purchases at major physical and online retailers, rewards, and the ability to purchase digital content. In Q1 of 2023 Cuentas launched Cuentas Casa, an alternative housing development initiative that secured a 10-year supply agreement for a patented, sustainable building system that will provide the bridge between its technology solutions and the affordable housing market. Cuentas has made investments to date in affordable housing projects for over 450 apartments. LINK: https://cuentas.com AND https://cuentasmobile.com
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Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements involve substantial uncertainties and risks and are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including, but not limited to, OTC and shareholder approval of the proposed transaction, our ability to manage our research and development programs that are based on novel technologies, our ability to successfully integrate WHEN operations and product offerings, the sufficiency of working capital to realize our business plans and our ability to raise additional capital, market acceptance, the going concern qualification in our financial statements, our ability to retain key employees, our competitors developing better or cheaper alternatives to our products, risks relating to legal proceedings against us and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Contact Information:
Arik Maimon
CEO at Cuentas Inc
Cuentas Inc. (OTC:CUEN)
Phone: 800-611-3622
Mobile: 786-774-2835
Web: www.cuentas.com
Email: arik@cuentas.com
