SKYX Platforms Corp. Signs Supply Agreement for Trump Towers Hyderabad Luxury Residential Project
NASDAQ: SKYX
Overview
SKYX Platforms Corp. (d/b/a SKYX Technologies) announced that it has signed an agreement to supply its patented safe advanced and smart home technologies to Trump Towers Hyderabad, a landmark luxury residential development on Golden Mile Road in Kokapet, Hyderabad, India, according to the company. The company describes itself as an award-winning advanced, safe, smart home and AI platform technology company with over 100 U.S. and global pending and issued patents.
According to the company, Trump Towers Hyderabad will feature two 65-storey towers rising approximately 800 feet and connected by a suspended sky bridge at the 28th floor. The development will include more than 450 residences, including 3.5- and 4.5-bedroom units and a collection of double-height simplex residences. Each residence is expected to include a private lift lobby and floor-to-ceiling glazing, with additional amenities located across a landscaped podium, and the Trump Club will be located above the sky bridge, connecting the two towers with open views across the city, the company said.
Key Highlights
- SKYX is expected to supply tens of thousands of units of its patented safe advanced and smart home plug & play technologies during the course of the development, according to the company.
- The development is 2.2 million square feet and is being jointly developed by IRA Realty and Tribeca Developers, described by the company as prominent Indian real estate developers.
- The project is located in Kokapet, an area the company describes as within one of Hyderabad's rapidly developing technology and residential corridors.
- SKYX states its patented smart and safety system has secured inclusion in the U.S. National Electrical Code, NEC-NFPA, ANSI-NEMA and Underwriters Laboratories (UL).
Strategic/Operational Context
Dr. Rama Raju Kanumuri, President of Brane Cognitive and President of Trump Towers Hyderabad, said the development holds the designation as The Trump Organization's largest luxury residential project in India and is situated in the Golden Mile in Kokapet, across from the newly unveiled Donald Trump Avenue which adjoins the US Consulate at Gachibowli, an area he described as home to a workforce of over 1.3 million IT professionals operating within a few-mile radius and campuses of companies including Google, Microsoft, Amazon, Meta, and Apple.
Narsi Reddy, Founder and Managing Director of IRA Realty, said the partnership with SKYX Platforms is a milestone in IRA Realty's development group targeted quest to dominate the branded residences sector, and stated that SKYX has captured seven CES awards from the Consumer Technology Association. Reddy said IRA Realty intends to lead with SKYX's advanced technology as a mandatory building standard across its entire upcoming pipeline of premium branded townships and commercial portfolios, as the company aligns execution with India's National Building Code (NBC) and RERA compliance.
Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said the collaboration marks a milestone in the company's mission to establish SKYX Platforms as a global standard for safe, intelligent infrastructure, and that the company's patented weight-bearing plug-and-play ceiling and wall receptacle systems are built to meet what the company describes as rigorous regulatory and building safety codes.
What to Watch Next
- Delivery of tens of thousands of units of SKYX's technologies during the course of the Trump Towers Hyderabad development, as expected by the company.
- IRA Realty's stated intention to apply SKYX's technology as a standard across its upcoming pipeline of branded townships and commercial portfolios.
About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the new standard. SKYX has a series of highly disruptive advanced, safe, smart and AI platform technologies, with over 100 U.S. and global patents and patent-pending applications. Additionally, the Company owns 60 lighting and home decor websites for both retail and commercial segments. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://www.skyx.com/ or follow us on LinkedIn.
Disclaimer and Forward-Looking Statements
The information contained herein is provided by ArcStone Financial Pulse Inc. ("ArcStone Financial Pulse"), a subsidiary of ArcStone Securities and Investments Corp. ("ArcStone"), for informational purposes only. It is not, and under no circumstances should it be construed as, an offer to sell or a solicitation of an offer to buy any securities or other financial instruments in any jurisdiction. This content is not a research report within the meaning of FINRA Rules 2241 or 2242 and does not constitute a research report under any applicable securities laws.
Certain statements contained herein may constitute "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws. Forward-looking statements are based on current expectations, estimates, and assumptions that involve known and unknown risks and uncertainties which may cause actual results or developments to differ materially from those expressed or implied. These statements often include words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "should," "target," or similar expressions. Readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. Except as required by law, ArcStone undertakes no obligation to update or revise any forward-looking information.
This content is not intended as investment advice or a recommendation to buy or sell any security and does not take into account the investment objectives, financial situation, or needs of any individual. Investors should consult their own professional advisors before making any investment decisions.
ArcStone Securities and Investments Corp. is not a registered broker-dealer and does not provide investment advice or recommendations. All registrable activities in the United States are conducted through ArcStone Securities, LLC (CRD# 306029) and/or Kingswood Capital Partners, LLC (CRD# 288898), both FINRA-registered broker-dealers, members SIPC. ArcStone Canada Inc. is not registered as a dealer in any Canadian jurisdiction; registrable dealing activities in Canada are conducted through appropriately registered affiliates.
ArcStone Kingswood is a DBA Office of Supervisory Jurisdiction (OSJ) of Kingswood Capital Partners, LLC (Member FINRA/SIPC) under which registered representatives of ArcStone Securities, LLC (Member FINRA/SIPC) and registered representatives of Kingswood Capital Partners, LLC conduct joint capital markets and investment banking activities. ArcStone Securities, LLC and Kingswood Capital Partners, LLC are parties to a written agreement governing the sharing of fees on transactions in which registered representatives of both firms participate. All securities transactions and investment banking services described in this article are conducted exclusively through ArcStone Securities, LLC and/or Kingswood Capital Partners, LLC; "ArcStone Kingswood" itself is not a registered broker-dealer or separate legal entity.
ArcStone Financial Pulse Inc. is owned by the same parent entity (ArcStone Securities and Investments Corp.) that owns ArcStone Securities, LLC. This common ownership, together with the joint operating relationship between ArcStone Securities, LLC and Kingswood Capital Partners, LLC under the ArcStone Kingswood DBA OSJ banner, represents a structural conflict of interest. The issuer featured in this article (the "Company") may be a current or former client of ArcStone or any of its subsidiaries and affiliates. Where ArcStone or its subsidiaries and affiliates have received or have been promised consideration for services provided to the Company, such consideration may include cash, stock, stock options, warrants, and/or Restricted Stock Units (RSUs) for the provision of corporate advisory, investor relations, digital media, or capital markets consulting services. This relationship represents a potential conflict of interest, as ArcStone may be perceived to have an incentive to present the Company in a favorable light. The principals, directors, officers, employees, and related entities of ArcStone and its affiliates may, from time to time, own, buy, or sell securities or derivatives of the Company or its affiliates.
