Business
Lighthouse Global Holdings Inc. (LHGI) Completes $5.85 Million Acquisition of Projagg Platform
Lighthouse Global Holdings Inc. (LHGI) Completes $5.85 Million Acquisition of Projagg Platform.
About this update from Lighthouse Global Holdings Inc.
[{"type":"text","content":"LAS VEGAS, NV / ACCESSWIRE / November 27, 2018 / LIGHTHOUSE GLOBAL HOLDINGS INC. (OTC PINK: LHGI), a "Unicorn Breeder," is set to revolutionize the traditional method of the $6.7 trillion real estate & infrastructure development industry with the "next Unicorn" in the making.There has been some excitement in the real estate development industry. If Projagg is to introduce a new sharing economy platform for developers to build without acquiring land or taking construction financing, it may change the entire traditional way of developing a project.A Sharing Economy B2C concept, made popular by Uber and Airbnb, basically uses idle resources to create value to meet demand and to enhance efficiency and effectiveness in traditional businesses like taxi/cab operators and hotels. It seems Projagg has redesigned it into a B2B concept that extends to the traditional real estate project development industry.Traditionally, a developer will buy land and take financing to develop real estate projects. However, this can mean having an asset, if fully paid, or a liability, if it's heavily financed. If Projagg truly works and can offer such an option - for developers not to acquire land nor take any loans - it may indeed revolutionize the entire industry.Oxford Economics estimated the construction market in six major countries to be US$6.7 trillion dollars by 2018 and $9.2 trillion by 2025, based on 2014 prices.PWC has sponsored a new report - Global Construction 2030 - which forecasts that the volume of construction output will grow by 85 percent to $15.5 trillion worldwide by 2030, with three countries - China, U.S. and India - leading the way and accounting for 57 percent of all global growth.Danny Lim, CEO of Lighthouse Global, said, "The completion of the Projagg platform acquisition is a very exciting and important milestone for LHGI. By consummating this deal, we will be able to deliver on our target to generate at least $15 million in revenue over the next five years for our first three projects worth US$300 million. The market is staggering, as more urbanization occurs in major cities and more infrastructure had to be built to accommodate the increase in population. Based on the uptick in business development efforts, it gives me great pleasure to announce our plan to start at least six more projects within ...