Dream Homes (OTCPK:DREM) Provides Overview and Corporate Update in Response to Increased Trading Activity

FORKED RIVER, NJ / ACCESSWIRE / September 16, 2021 / Dream Homes & Development Corporation (OTC PINK:DREM), a licensed new home builder and general contractor, is issuing this press release in response to a significant increase in its trading activity and price appreciation in the past few trading days. On Tuesday, September 14, 2021, DREM stock traded in a range of .0676 and .32 per share on record volume of 2,749,162 closing at a price of .12 per share.

President and CEO Vince Simonelli stated, "Although we have long believed that Dream Homes stock price does not accurately value our real estate assets as well as the potential added value that our construction efforts will bring to those assets, there is no specific material event that has occurred to account for the sudden new interest. In our most recent quarterly report, we announced significant year over year percentage gains in our current assets, total assets, and cash."

Simonelli added, "With that said, we do anticipate a strong year ahead. In addition to our regular remodeling and elevation work on residential homes, we specifically list below our larger projects and properties currently owned, in contract, or in title. All of this information was included in our most recent quarterly report for the quarter ended June 30, 2021 and posted on August 23, 2021 (view at: DREM 10Q ended 06.30.21 PDF). Simonelli concluded, "We also note that in anticipation of more corporate activity over the next year, Dream Homes signed a new one year consulting and Investor Relations agreement with Green Chip Investor Relations that began on September 1, 2021."

Properties Currently Owned:

1. Berkeley Terrance - Bayville, NJ - 70 approved townhome units: The closing to acquire this property occurred on June 29, 2021, but Dream Homes is awaiting a commitment with a permanent lender for development and construction financing. Dream Homes is preparing to begin infrastructure work on the property, and start a pre-sales program. The first closings are scheduled to occur in late spring of 2022.
2. Lacey Township, NJ - "Dream Homes at the Pines": Dream Homes is in contract and under development for a parcel which will yield 68 new townhomes in the Ocean County, NJ area, of which 54 are market rate and 14 are affordable housing. As of February 26, 2021, financing was secured to purchase the land upon municipal approvals being granted. The closing to acquire the property occurred on June 29, 2021, and the Company is currently in title.
3. Dream Homes Apartments - Fairview: On May 3, 2018, the Company submitted a signed Letter of Intent to purchase 5.5 acres of property in Gloucester County, which is being approved for a 112-unit apartment complex with 8000 square feet of retail space. Dream Homes has a signed contract and has been proceeding with development approvals. The property is designated as a redevelopment property, and a redevelopment agreement is being negotiated with the township. On February, 28, 2021, the closing to acquire this property occurred via an assemblage of three parcels.
4. Louis Avenue - Bayville, NJ - In title: In October 2018, the Company entered into a contract to develop and acquire 17 townhouse lots in Bayville, NJ. The matter was heard before the Berkeley Planning Board on October 3, 2020 and the Company was awarded preliminary approvals for 17 townhome units. An application is currently being made for final approvals, and the Company should be heard at the October 2021 planning board meeting. The Company acquired this property on August 4, 2021.

Management at Dream Homes plans to provide updates and news on a more consistent basis over the next year and beyond. We thank all our loyal and new shareholders for their patience and support as we transition to a more active time in our company's history.