Metrospaces Inc. (OTCMKTS: MSPC) jumped 15.79% after the Shokworks powered PropTech company revealed plans to build Infinity View Villas that will be incorporated into MetroHouse, its co-living platform. The company will develop a 4000 sq. ft. home and nine high-end villas in the Dominican Republic.
Metro spaces creating MetroHouse in a partnership
The company is creating MetroHouse in collaboration with Dallas-based Shokworks. It will begin with co-living rooms in Philadelphia before expanding across the US and other major global cities, including the beautiful Dominican Republic mountain retreat.
Shokworks CEO Alejandro Laplna said that they are eager to add the villas to the MetroHouse platform so that the company’s core members can enjoy them. In addition, Metrospaces’s investments in the prestigious real estate sector have created a distinct growth and funding framework. The plan is to have around 15-20 rooms added to the MetroHouse platform by September 15 launch date and up to 100-120 rooms by the end of the year.
Metrospaces CEO Osca Brito said, “Infinity View Villas is a very exciting project because, as developers we can use sale proceeds of a portion of the villas to finance the construction, while keeping the management of the villas for our platform. This will keep our cash investment low, while retaining the most profitable, long-term part of the project’s revenue. It’s also exciting as we build real estate inventory to incorporate into the up-and-coming real estate tokenization platform, Metrocrowd, which we are developing with Shokworks and plan to launch later this year.”
MetroHouse to expand to major cities
The co-living strategy will focus on digital nomad destinations and secondary cities, and the Dominican Republic is one of the high-end destinations for digital workers. Laplana said, “The Metrocrowd platform we’re building with Metrospaces will provide future token buyers an opportunity for outsized returns with small investments, as opposed to acquiring an entire villa.”