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Bullboard - Stock Discussion Forum Melcor Developments Ltd T.MRD

Alternate Symbol(s):  MODVF

Melcor Developments Ltd. is a diversified real estate development and asset management company The Company develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. The Company operates in four segments: Land, Properties, REIT, and Golf. The Land segment is responsible for purchasing and developing land... see more

TSX:MRD - Post Discussion

Melcor Developments Ltd > Melcor USA - Harmony Sales
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Post by longrun86 on May 19, 2023 6:30pm

Melcor USA - Harmony Sales

Hi folks,

Just wanted to provide some of my findings on the Harmony operations. Melcor had previously indicated that they expect to sell some lots in Harmony this year after not selling any last year. As of Q1 2023 they had not sold any; however, they did mention that they believed that they would sell some this year.

Additionally, I have been reviewing the investor presentations of the US Homebuilders and things seem to be stabilizing in that market and the US Homebuilder's share prices (and ETF's if you track that) have been on an upswing.


DR Horton
I have been watching the website listings for D.R. Horton which is one of the real estate developers at Harmony. The current inventory shows 3 places for sale and all of them are either sold or under contract. The D.R. Horton website indicates that there is a "New Phase" coming soon.

Richmond American Homes
I took a look at the Richmond American Homes website for Harmony and they have about 20 units available; however, I was not able to determine at which stage of completion these properties were at.

Dream Finders
There are 12 homes listed but these appear to be mostly townhomes.

In 2018 Melcor sold 467 Lots for $31m. Not sure where we will end up this year but lets see!

LR
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