NEW YORK, NY - December 3, 2013 - Profitable Developments, Inc. (OTC Pink: PRDL) ("Profitable Developments" or the "Company"), an international property development company, today announced that it has signed a Letter of Intent for a resort property on the exclusive Sal Island in Cape Verde.
The 5 Star Award Winning resort is a high quality property boasting modern facilities and luxury amenities. Unlike most properties currently under development in this area, Profitable Developments has aligned itself with a property that is 'rent-ready'; where all of the units are completely finished and ready for occupancy and revenue generation.
"We have been working very closely with our global real estate partner to find high value opportunities, in stable but emerging regions of the world, where infrastructure is intact," stated Carl Grant, President of Profitable Developments. "Sal Island in Cape Verde is one of those opportunities. PRDL's potential for growth here is significant."
Early stage development within the Cape Verde region means significant growth potential for 'First-Movers' in the area. Having recently been upgraded to a 'middle-income' economy, this area demonstrates a good deal of growing stability as Cape Verde ultimately seeks entry into the European Union. Add an increase of tourists due to regular flights into Cape Verde from most European cities, and it becomes apparent why this emerging market was ranked number three on Lonely Planet's 2011 list of 'Top 10 Countries to Visit.'
Mr. Grant concluded, "Opportunities such as the resort property in Sal Island affords us greater flexibility as a property development company; leaving our land and property options open to real and sustainable growth. We are extremely excited to continue forward to the next stage of this project."
About Profitable Developments, Inc.
Profitable Developments, Inc. is a 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.
The Company recently announced its 3 year Corporate Strategy. A copy of this plan is available on the corporate the website along with greater details on the various Real Estate opportunities PRDL is currently pursuing.
Their website can be found by going to www.profitabledevelopments.com
The Company can be contacted via firstname.lastname@example.org
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.