Business
NewGen Subsidiary Signs Memorandum of Understanding with Prominent UAE Real Estate Developer
The agreement with BNW Real Estate Development LLC positions NewGenDigital to maximize the profitability of its recently acquired plot of land in the UAE Potential net return for the project is estimated to be as high as US$67 million per a feasibility study compiled by BNW BANGKOK, July 21, 2025 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility tre
About this update from Newgenivf Group Limited
[{"type":"text","content":"The agreement with BNW Real Estate Development LLC positions NewGenDigital to maximize the profitability of its recently acquired plot of land in the UAE","length":153,"tagName":"p"},{"type":"text","content":"Potential net return for the project is estimated to be as high as US$67 million per a feasibility study compiled by BNW","length":120,"tagName":"p"},{"type":"text","content":"BANGKOK, July 21, 2025 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments, today announced that its subsidiary, NewGenDigital Limited (“NewGenDigital”), has signed a Memorandum of Understanding (the “MOU”) with BNW Real Estate Development LLC (“BNW”), a prominent real estate developer in Ras Al Khaimah and Dubai, UAE. Per the terms of the MOU, NewGenDigital and BNW will endeavour to negotiate and execute a definitive Joint Venture Agreement (“JVA”) to form a special-purpose vehicle (“SPV”) with the intention of developing NewGenDigital’s recently acquired strategic plot of land in Ras Al Khaimah’s Beach District, UAE (the “Plot”).","length":797,"tagName":"p"},{"type":"text","content":"BNW is currently developing 6 new residential properties in Ras Al Khaimah and Dubai, and manages a real estate portfolio of about US$520M. BNW has previously won “Best Residential High-Rise Development, Arabia” at the Arabian Property Awards 2024-2025 and “Best International Residential High-Rise Development at the International Property Awards 2024-2025” in London. As a development partner, BNW will work with NewGenDigital to oversee the overall execution, project management, sales, leasing, and marketing of NewGenDigital’s Plot, leveraging their experience in the region to maximize profitability in compliance with applicable laws and industry standards.","length":664,"tagName":"p"},{"type":"text","content":"Per the terms of the MOU, BNW will be responsible for all the construction cost, management cost, and a share of marketing and brokerage cost related to the Plot development. NewGenDigital shall contribute towards the initial 36% of the land cost. The remaining 64% of the land cost shall be funded initially by BNW, covering both its own and NewGenDigital’s share. Any payments made by BNW on behalf of NewGenDi...