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SiteWorks Building & Development Co., Announces It Has Submitted Proposals to Develop and Build Low Cost Alternative for Affordable Housing in Thailand

Friday September 9, 1:00 pm ET

MIAMI--(BUSINESS WIRE)--Sept. 9, 2005---SiteWorks, Inc. (OTCBB:SWKJ - News) has announced the company has submitted proposals to build low cost housing near the Thai International Airport.

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The construction work will be done by a local Thai company using a pre-cast concrete methodology used extensively in the West, but which has not yet been fully exploited in the Far East.

Projects which are being proposed include housing for the National Housing Authority and other governmental agencies.

SiteWorks CEO, Michael Nurse stated "The technology we propose has been used extensively here in the West and can be used anywhere there is a need for durable low cost housing. If our proposals are accepted, we are planning to finalize the transfer of technology by early November and have the projects start up in early 2006.

SiteWorks, Inc. is a Florida company engaged in the business of total site and built environment solutions. The company's core business is the construction of semi custom housing developments and middle-income multifamily buildings. Site-Works, Inc also performs construction management and general construction services. Other services provided include the marketing and distribution of innovative construction related and other technology products.

Von der breiten Masse der Anleger noch relativ unentdeckt ist unsere heutige Empfehlung SiteWorks Inc (WKN A0B7YA, US-Kürzel SWKJ). Die in Miami, Florida ansässige SiteWorks Inc. ist eine vielseitige Immobilien und Entwicklungsserviceorganisation, bei der die Kundenzufriedenheit im Vordergrund steht. Management und Personal arbeiten nach dem Prinzip, dass die Erwartungen des Kunden immer übertroffen werden sollen. Die Firma ist im Bau, Aufbaumanagement, sowie in der Immobilienentwicklung in Südflorida und in den Karibischen Meeren aktiv. Das Unternehmen leistet auch die nötige Infrastrukturarbeit, einschließlich der Elektroinstallation und die Verlegung von Gasleitungen. SiteWorks hat bereits erfolgreich Hauptprojekte in New York und in den Karibischen Meeren abgeschlossen und ist jetzt im südlichen Markt aktiv. Über den letzten 25 Jahren hat das Unternehmen verschiedene Projekte fertiggestellt, unter anderem das " Queens County Court House" am Queens Boulevard, eine Polizeistation an der " Jamaica Subway Station" , Bau von Einfamilienhäusern in Great Neck, New York, Pinecrest und Miami, Erneuerungen der Wohnanlagen in der Bronx, in Brooklyn und in " Coconut Grove" . Das Management kann viele Jahre der praktischen Erfahrung sowie Ausbildungen in " Modern Arts" vorweisen.

Posted by: ChartFreak In reply to: None Date:9/27/2005 12:42:20 AM Post #of 137

The Baan Eua-Arthorn low-cost housing project

That's what the Thailand government project is called. I found out through the Bangkok Post that the project size is for the construction of 600,000 housing units (wow) from 2003-2007, with a total budget of USD $7.1 Billion (all dollar amounts converted from Thai Baht). That's another 2 years before completion.

As much as USD $944 Million is being contributed by the government, while USD $5.9 Billion will be sourced from loans. The project has been divided into three phases, some of which is already complete, BUT they have come up WAY short-handed, as they have discovered.

Phase 1 for a modest 4,175 units is complete, at a cost of USD $37 Million.

Phase 2, for a slightly larger 7,552 units, is currently under construction at a cost of USD $74 Million.

But here's the deal:

Phase 3 is for a whopping 140,000 units (still less than the 600K) at a cost of USD $1.6 Billion. As of June 2004 (latest figures available), they had only auctioned off to contractors 34,920 units. That leaves over 100,000 units left for bids (some of which may have come in by now).

Still, that only totals a little over 150,000 units and they want 600,000.

By their own admission, the National Housing Authority has only been able to provide a total of 81,485 homes at the time of the article, but the number of applicants exceeded exceeded 356,888 (summer 2004). They claim the potential was there for the project to be expanded. Ya think?!