We are excited to share an exciting new project win for Cityzenith!
In December, 2019, Cityzenith signed a letter of intent with the owners of the Orlando Sports & Entertainment District to provide a Digital Twin solution for their new $500 million-plus, downtown mixed-use project planned to be built across the street from the Amway Center in Orlando, Florida. The project will include a 300-room hotel, 420,000 square feet of office space, 80,000 square feet of event space, more than 100,000 square feet of retail space, and an open-air plaza. The owners are positioning Orlando SED as a fully-interconnected Smart District that will leverage state-of-the-art IoT, Digital Twin and AI Technologies to dramatically transform the 4-block dense urban core just west of the I-4 highway.
Today, the owners confirmed their intention to proceed with the appointment of Cityzenith on the first phase of the project. The full contract will have the company provide Digital Twin solutions for 5 unique projects currently being developed by the owners with the SED as the flagship project, all of which will be delivered over the course of the next 12 months in 3 phases. The total value of the contract is $1,000,000, and includes a provision for an additional equity investment of $1,000,000. It is the company’s largest customer contract to date. Also, it is our first major project of this scale in the United States of America.
Perfect timing … as we near the launch of our forthcoming Regulation A+ capital raise expected to go live in May, we will be able to leverage this extraordinary win to help catapult our campaign from the get-go. We are honored and proud to have been chosen for this premier opportunity.
As we deal with the uncertainty today and plan for the new normal of tomorrow, we are pleased to bring this good news into your homes this weekend, wherever you are. We wish all of you a happy, healthy, and safe holiday season.