DARKSTAR VENTURES Established a New Company Bengio Urban Renewal Specializes in Building Reinforcement or Reconstruction in Israel

JERUSALEM, November 16, 2017 /PRNewswire/ --

DARKSTAR VENTURES, INC (OTC: DAVC) and Subsidiary Bengio Urban Renewal announces today a company overview.

Bengio Urban Renewal is a new company founded by veteran real-estate entrepreneurs and expert professionals in the field of construction.

Bengio Urban Renewal specializes in building reinforcement or reconstruction in Israel under the terms of N.O.P 38 (2) (vacate and reconstruct) or N.O.P (3) (reinforce and renovate), supervising projects from their very beginning all the way to successful completion of all stages:

Any other stage involved in upgrading the building until its residents receive their renovated or brand new apartments with full satisfaction guaranteed.

The renewal processes include rights for extra floors on the rooftop with no charge for the tenants or the developer and usually, the developer receive this right to build extra floors in exchange for his commitment to make the building strengthen, which is much lower than the marker price of the new apartments.    

Tama (National Outline Plan) 38 grants construction rights to tenants whose buildings undergo strengthening. The tenants transfer these rights to a real-estate developer in exchange for the strengthening, renovation and upgrading of their homes, which, at times, are also expanded. The State also foregoes the tenants' purchase tax and capital gain tax, and the local municipality pitches in by foregoing the betterment levy it is entitled to charge when tenants obtain additional construction rights.

And so, homeowners get to expand their property, wherever possible, and have their building, along with all joint property and public areas, strengthened and improved. In many cases, an elevator is also added, since the developer builds extra floors on the rooftop. Moreover, it is not uncommon for storerooms to be built, as well as parking solutions, all according to the physical and economic conditions of each project.

All about Tama (38) 

The economic potential of Tama 38 

Each project is examined individually: its economic potential must be well explored in order to ensure, on the one hand, that the developer stands to gain rather than lose from it, and, on the other hand, that homeowners get as much as they can out of it too.

The CEO of the Company is Mr. Avraham Bengio, who has 30 years of experience in the Israeli real-estate industry. Mr. Bengio believes that chemistry between people is a dealmaker or breaker. Most tenants regard Tama 38 as a mission impossible, but where there's chemistry, and the team selected is right, it all flows well, making the entire adventure both possible, and more importantly, profitable.

Bengio Urban Renewal, manager and consultant for Tama 38 projects in Israel, also engages in representing tenants in their agreements with real-estate developers. we believes that alongside a team of professional, leading consultants, that helps promote the entire process in a focused and efficient way, it is vital that the tenants themselves be aware of all that they stand to gain from this project, and the advantages for the building itself.

Forward-Looking Statements 

Certain matters discussed in this press release may be forward-looking statements.  Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's success in obtaining new customers; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q.  The Company assumes no obligation to update the cautionary information in this release.

SOURCE DARKSTAR VENTURES, INC



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