BETHESDA, MD / ACCESSWIRE / August 5, 2021 / Alset EHome International Inc. (NASDAQ:AEI) ("AEI" the "Group" or "Company"), a diversified holding company principally engaged through its subsidiaries in the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products, today announced an update on its recent capital raise and plans for accelerated growth. Through three rounds of funding over the past eight months, the Company has raised gross proceeds of over US$90 million, providing a substantial war chest of liquidity that places the Group in a strong position to implement its comprehensive growth plans.
"With uncertainties shrouding the global economic and business landscape, we have taken the necessary steps to ensure we have the necessary capital to execute on our vision in the quarters ahead," stated the Company's Chairman and Chief Executive Officer, Heng Fai Chan. "These funds will enable us to navigate any headwinds as we carry out important strategic initiatives to position Alset EHome International for long-term sustainable growth."
Capitalizing on Near-Term Opportunities
Mr. Chan added, "The funds raised thus far have been an important and necessary step, providing us with crucial resources to capitalize on near-term opportunities as we position ourselves to become a key player in the market for sustainable healthy living systems. Bolstered by the latest round of fundraising, we are now in an optimal position to execute on our strategy."
On July 20, 2021, the Group announced that Alset EHome Inc. ("Alset EHome"), a US-based property developer and an indirect subsidiary of the Company, will begin seeding American Home REIT Inc. ("AHR") by transferring more than 20 single family rental Alset EHomes, all currently owned by Alset EHome and tenant occupied under long-term leases, to AHR. The Group plans to increase the number of Alset EHomes under AHR to more than 100 homes by the end of 2021. AHR will provide a solid platform for the Group to scale its operations at a much faster pace as it accelerates the advent of sustainable healthy living systems globally.
Sustainable Healthy Living Communities
Over the years, the Group has built up an ecosystem of businesses based around sustainable living for its novel and first-of-its-kind sustainable healthy living communities, which has led to the subsequent development of Alset EHomes, eco-friendly single-family homes fully fitted with sustainable transport, living and energy systems, including solar systems and energy storage solutions.
The Group's two flagship developments are Alset at Black Oak, situated in Magnolia, Texas, north of Houston, and Ballenger Run, situated in Frederick County, Maryland. Together with partners including NVR, Inc. and Rausch Coleman Homes, over 750 homes have already been delivered at these two projects. Development of future phases of Alset at Black Oak is progressing and over 600 additional homes are planned. Furthermore, Alset EHome targets to deliver 100 EHomes in the Houston area in 2021. Looking ahead, the Group intends to bring its sustainable living concept to other parts of the US as well as international markets.
About American Home REIT Inc.
American Home REIT (AHR) seeks to own and manage income-producing, high-yielding real estate in the United States. In particular, AHR focuses on bulk purchases of single-family homes (SFH) that meet the investment requirements set by a team of highly experienced management and advisors. This includes an existing organic pipeline from the parent company that is developing its master planned community, Alset at Black Oak (Magnolia, Texas) and acquiring homes of NorthPark Woods (Porter, Texas). AHR will further acquire other SFHs to generate a steady income stream for investors. AHR targets to pay a quarterly dividend of up to 8% annualized yield.
For more information, please visit: www.americanhomereit.com.
About Alset EHome International Inc.
Alset EHome International is a diversified holding company executing on its vision to accelerate sustainable healthy living with a focus on the development of EHome communities and other property development, financial services, digital transformation technologies, biohealth activities and consumer products. Through its operating subsidiaries, Alset EHome's mission is to provide a healthy living ecosystem that drives long-term exponential growth, building liquidity and value for shareholders. Alset EHome is led by its chairman and CEO, Heng Fai Chan, a successful global business veteran of more than 40 years specializing in corporate transformation while managing risk. Over his distinguished career, Heng Fai Chan has successfully restructured more than 35 corporations with a combined value of $25 billion.
For more information, please visit: www.alsetehomeintl.com.
Investor Contact:
Dave Gentry, CEO
RedChip Companies Inc.
407-491-4498
[email protected]
Forward-Looking Statement Disclaimer
Statements in this press release contain "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Alset EHome International Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a discussion of the most significant risks and uncertainties associated with the Company's business, please review our filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and Alset EHome International Inc. undertakes no duty to update such information except as required under applicable law.
SOURCE: Alset EHome International Inc.