TGI Completes Phase I of Advent City in Yucatan, Mexico (update)

Rhea-AI Summary

TGI Solar Power Group Inc. (OTC Markets: TSPG) has completed Phase I of its ADVENT CITY project in Yucatan, Mexico. This initial phase includes the construction of roads, irrigation systems, and environmental enhancements like reforestation. The upcoming phases will focus on a water park, hospitality areas, and residential units, offering 700 modern homes and 120 garden apartments. Estimated sales for homes and apartments reach $310MM. TGI anticipates a 40% gross margin on construction costs. The project emphasizes sustainable technologies, including microgrids and AI management.

NORTH BRUNSWICK, NJ / ACCESSWIRE / August 3, 2021 / TGI SOLAR POWER GROUP INC. (OTC Markets:TSPG) ("TGI"), an alternate energy and infrastructure company, announced today that it has completed Phase I of the infrastructure for ADVENT CITY, a TGI Community - Taak-Bal ADVENT CITY in Yucatan, Mexico. As stated before, the project is going to be treated as a pilot project, where we had begun implementing all the technologies available to TGI - either owned, acquired, or outsourced.

Phase I consists of construction of main roads, irrigation systems, reforestation, lots of new trees, flowers, some fencing, expanded and cleaned cenotes and areas around them, cleared and prepped area for main kitchen for all the restaurants and cafes. Next Phase is to complete water park, hospitality areas for resort, restaurants and get ready for residential construction.

Our plans also call for an addition of a medical center for medical tourism, R & D technology incubator, indoor vertical farming, to provide fresh fruits, vegetables and other high value and nutritious foods to the entire ADVENT Community, which will also include 3 restaurants, an entertainment area, a convention center, up to 700 residential homes and up to 120 garden apartments.

Our residential homes will offer up to 700 modern design two to three-bedroom homes, with basic prices starting at $350,000.00. The average cost of the lot is about $50,000, which is estimated at $280MM in sales. Condo Hotel Garden Apartments one to two bedrooms, with basic prices, start at $250,000, which is estimated at $30MM in sales. TGI anticipates cost of construction not to exceed 60% of total cost of construction, which would leave the Company 40% gross margin.

ADVENT CITY will offer management services for absentee owners to keep it as investment properties. ADVENT CITY will offer the latest green sustainable technologies for power, waste, sewer, and water, security, and communications, standalone microgrids with EV charging technology, IOT, and AI to manage the entire operation.

For more information, please see www.otcMarkets.com under ticker symbol 'TSPG', and visit our Facebook page https://www.facebook.com/TGISolarPower/.

About TGI Solar: TGI SOLAR POWER GROUP INC. is a diversified holding company. TGI's strategy is to acquire innovative and patented technologies, components, processes, designs, and methods in alternate energy and infrastructure with commercial value that will give a competitive market advantage and generate shareholder value.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission

For further info:

HenryV@TGIPOWER.COM
917-353-5099

SOURCE: TGi Solar Power Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/658238/TGI-Completes-Phase-I-of-Advent-City-in-Yucatan-Mexico-update

FAQ

What are the key developments in TGI Solar Power Group's ADVENT CITY project?

TGI Solar Power Group has completed Phase I, which includes road construction and environmental enhancements, while upcoming phases will add residential and hospitality components.

What is the estimated sales figure for TGI Solar Power Group's residential properties in ADVENT CITY?

The estimated sales for residential homes and apartments in ADVENT CITY are approximately $310MM.

What is TGI Solar Power Group's gross margin expectation for the ADVENT CITY project?

TGI Solar Power Group anticipates a gross margin of 40% on construction costs for the ADVENT CITY project.

What sustainable technologies will be implemented at ADVENT CITY?

ADVENT CITY aims to incorporate microgrids, EV charging technology, IoT, and AI to ensure sustainable living.

When was the announcement regarding the completion of Phase I made by TGI Solar Power Group?

The announcement about the completion of Phase I was made on August 3, 2021.