NEW YORK, NY-- October 28, 2013 - Profitable Developments, Inc. (OTC Pink: PRDL), a Property Development Company, today announced that it has signed a letter of intent to acquire a quantity of land parcels on the Coral Coast, Florida. Situated between Sarasota and Marco Island, is Cape Coral located on Florida's heavily bankable Gulf Coast.
The Company has secured 10 parcels of land, each waterfront and each with planning permission for residential property use giving the business a significant interest in the area and giving the Company a real head start in its Land Bank Program.
At the height of the property boom in 2005/2006, demand for land in North Cape Coral was extremely high due to its unique location and fully developed real estate plots were being sold in the millions of dollars at that time. Profitable Developments' investment in this area will see it pay only a small fraction of this price per sqft, leaving it in an excellent position when the market bounces back in this area, even in the short to medium term.
Commenting on the agreement, President of Profitable Developments, Carl Grant, said, "I was in Florida very recently surveying the right opportunities for the Company and I can say that I see the corner being turned in terms of a market up-turn. Realtors are talking of a seller's market being just around the corner. Securing access to this water-front land is a crucial first step for us and, as we negotiated hard, we believe we have a great potential for a fantastic up side when the time comes either to sell the land or go ahead and develop on this prime land."
Profitable Developments, Inc. recently announced their 3 year Corporate Strategy, a copy of which is available from the investor section of the website. Details of all of the opportunities that PRDL are working on are available from their website and further deals will be made public as they are signed.
About Profitable Developments, Inc.
Profitable Developments, Inc. is Property Development Company listed on the OTC markets as a Current Information Company. Specializing in key locations globally in both underpriced land as well as in Property, the Company has an aggressive strategy to capitalize on the rising prices of Real Estate.
Their website can be found by going to www.profitabledevelopments.com
This press release may contain forward-looking statements, including information about management's view of Profitable Developments, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Profitable Developments, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Profitable Developments' future results. The forward-looking statements included in this press release are made only as of the date hereof. Profitable Developments cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Profitable Developments undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Profitable Developments.
Profitable Developments, Inc.
SOURCE: Profitable Developments, Inc.