NEW YORK, Dec. 16, 2004 (PRIMEZONE) -- Nevada Holding Group, Inc. (Pink Sheets:NVHG) announced today that the company has decided to launch a new real-estate development division for purchasing and developing prime properties and marinas in the US and the Caribbean.
After extensive research, the company's new advisors have recommended that Nevada focus on the Caribbean real-estate boom and purchase existing apartment buildings and hotels and subsequently convert them to five-star spa, golf course and marina condos.
The Company believes it is well-placed in the market and is poised to grow rapidly as it presents an opportunity for individuals and corporations to own and occupy when desired or to benefit from rental income. The new advisors to the Company bring over 50 years experience in purchasing and developing properties in the Caribbean and the United States.
NVHG decided not to proceed with licensing agreement from the IGAE due to lack of due diligence and inability to prove valuation of the licensing fees.
About Nevada Holdings Group Inc.
As part of Nevada's new real estate development direction, the Company is seeking to specialize in converting older hotels, buildings and apartment buildings in the Caribbean and the US into five-star spa, golf course and marina condos.
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