ORLANDO, Fla., Sept. 28, 2004 (PRIMEZONE) -- Fortune Real Estate Development Corporation (Pink Sheets:FRDJ) focuses primarily on the development of Residential Condominiums and Hotel-Condos by purchasing Apartment Buildings and Hotels and subsequently converting them to Condos.
The company is currently in the process of completing a $10 million hotel-condo project in Orlando, Florida and will soon be acquiring other prime properties for similar developments.
The company is expected to complete 2-3 major projects each year and is projected to gross over $50 million from the sale of condo units over the next 24 months.
The company is well placed in the market and is poised to grow rapidly as it presents an opportunity for individuals to own and occupy when desired or to benefit from rental income.
Delroy Cowan the CEO of Fortune brings to the company over 25 years experience in purchasing and developing prime properties in the Caribbean and the United States and he holds the perfect record of being successful with every real estate development that he has done.
For more information visit: www.fortunerealestatedevelopment.com
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.