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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Dream Homes & Development Corp. (OTCPK: DREM) Receives Purchase Offers from New Jersey’s Largest Three Builders for its Berkeley Terrace 70-unit Townhome Project

November 11, 2021 GMT

FORKED RIVER, N.J., Nov. 11, 2021 (GLOBE NEWSWIRE) -- Dream Homes & Development Corporation (OTCPK: DREM) (also known as “DHDC”), announces that it has received letters of intent to purchase its Berkeley Terrace 70-unit Townhome development. DHDC closed to acquire this property on June 29, 2021, and is preparing to begin infrastructure work on the property, and start a pre-sales program.

At this point, DHDC has decided to retain the property due to the solid returns anticipated to fully develop the project. DHDC President and CEO, Vince Simonelli, stated, “The resilience and continued strength of the real estate market in New Jersey has made just about every one of our projects a target to buyers. Of course, it is always nice to be recognized that our vision and the execution of our development plans is appreciated by the largest companies in this business.”

It is also noted that Dream Homes & Development Corp. plans to file its Q3 financial report for the period ended September 30, 2021 on time by the close of business on November 15, 2021.

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About Dream Homes & Development Corp.

Dream Homes & Development Corp. (OTC Pink: DREM) (also “DHDC”) is a full-service construction company based in Forked River, New Jersey equipped to complete all aspects of a building project including design, architectural, engineering, and construction. DHDC wholly owned subsidiaries are licensed new home builders and general contractors; actively building, raising, renovating and reconstructing homes up and down the New Jersey shore area.

Please visit our website at  www.dreamhomesltd.com  and blog at  http://blog.dreamhomesltd.com  for more information.

Please email  vince@dreamhomesltd.com  to be alerted in the future when the Company announces news. Twitter at  https://twitter.com/foxbuilder.

Forward-Looking Statements:

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This press release may contain forward-looking statements. The words “believe,” “expect,” “should,” “intend,” “estimate,” “projects,” variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company’s current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks are detailed in the Company’s respective filings with the Securities and Exchange Commission at  www.sec.gov.

Company Contacts:

Dream Homes & Development Corp.
Vincent Simonelli, President & CEO
Office: (609) 693-8881
Email:  vince@dreamhomesltd.com

Investor Relations:

Green Chip Investor Relations
President: Matt Chipman
Office: (818) 923-5302
Email: matt@greenchipir.com