IDVC Engaged to Manage a $12M Residential Project in the Philippines
October 22 2013 - 7:00AM
Access Wire
SALT LAKE CITY, UT- (Accesswire - October 22, 2013) -
Infrastructure Developments Corp. (OTCQB: IDVC) (the "Company")
announced today that its subsidiary Interspec International, Inc.,
has been engaged by a developer in the Philippines to manage all
planning and construction of a 130 home upscale residential
subdivision near the Clark Special Economic Zone, Pampanga,
Philippines.
Sindalan Realty, Inc., has approval to develop a 4.3 hectare
site with 130 homes that will be marketed in the $165,000 to
$200,000 price range. The development will have modern,
useful common areas and amenities, and will offer residences built
to international standards.
"The design, planning and site infrastructure work we did for
Glass Hill in Thailand attracted Sindalan to hire us for this
important project," stated the Company's CEO Eric
Montandon. "The Philippines, especially this area near the
Clark International Airport, has a growing market for residences
built to proper standards. We are pleased to be able to work
on a project we understand completely, in an area where our
managers have practical experience."
"Our market for homes in this region, especially in our key
location near the Clark Free Zone, now demands better quality and
more efficient designs than have been used by developers in the
past," commented Josephine Sidor, CEO of Sindalan. "We
need international firms like Interspec to help deliver our project
faster with above average quality standards, using modern building
systems rather than hand labor. We have seen the very good
work Interspec did in Thailand and Cambodia for its demanding
clients, and we feel they can meet all of our project management
requirements."
The project will require approximately $1,000,000 worth of site
infrastructure and between $7,000,000 and $11,000,000 worth of home
construction, depending our how many developer-built homes are
sold. Sindalan has sales offices in the Philippines, the
U.S., and Dubai that focus on the target markets of Filipino
families, Filipino foreign workers, and western ex-pat
retirees.
About Interspec International,
Inc.
Interspec, the Company's subsidiary, has completed several
design build projects in Thailand, Cambodia, U.A.E., and Indonesia
for the US military and private clients since 2008. The Company
also markets and distributes re-locatable building for use as
offices, workforce housing and other uses around the world.
Interspec is establishing a Philippine branch company for the
purpose of building this project and other projects in the
future.
Forward-Looking Statements:
A number of statements contained in this press release are
forward-looking statements. These forward-looking statements
involve a number of risks and uncertainties including the Company's
development, competitive market conditions, and its prospects for
securing additional sources of financing as required. The actual
results that the Company may achieve could differ materially from
any forward-looking statements due to such risks and uncertainties.
The Company encourages the public to read the information provided
here in conjunction with its most recent filings on Form 10-Q and
Form 10-K. The Company's public filings may be viewed at
http://ctt.marketwire.com/?release=1028607&id=3134269&type=1&url=http%3a%2f%2fwww.sec.gov%2f.
Contact:
Infrastructure Developments Corp.
Eric Montandon
Director
Tel 801.488.2006
Fax 801.488.2006
eric@idvc.us
http://www.idvc.us/