JFB Construction Announces Commencement of Phase 1 of 3 and Approval and Issuance of $18.9 Million Bond to act as General Contractor for Public High School in DeSoto County, Fla.
Total contract valued at $100 million
Lantana, Fla., Nov. 04, 2025 (GLOBE NEWSWIRE) -- JFB Construction Holdings (NASDAQ:JFB), a real estate development and construction company focused on hospitality, commercial, industrial, and residential property development, today announced that it has been approved for the issuance of an $18.9 million bond to act as general contractor for the first phase of construction of a public high school in DeSoto County, Fla.
"Last month we announced that we executed an $18.9 million contract for the first of three phases of the construction and continuation of the existing campus of the high school of [a total of] approximately 100,000 square feet, over 40 acres, for an additional 1379 students," said CEO Joseph F. Basile, III. The total value of the contract is $100 million.
"I have signed a personal guarantee, demonstrating the confidence I have in JFB Construction and the financial ability of the company to complete this project on time and on budget. This approval and bond issuance will allow us to proceed with the contract, as the bond provides a financial guarantee to the client that the project will be completed and that subcontractors and suppliers will be paid.
"Our strong balance sheet, with over $34 million in working capital, is a leading factor in being awarded these types of contracts. Our working capital enhances our bonding capacity, which is critical for securing larger and more complex construction projects, with lower risk to our clients.
"We have started construction and we plan to complete construction of Phase 1 in January 2026. The value of the Phase 2 contract is valued at over $30 million, on which we plan to commence construction in June 2026," concluded Mr. Basile.
About JFB Construction Holdings
JFB Construction Holdings ("JFB") offers generations of combined experience in residential and commercial construction and development. Having the experience of building multifamily communities, shopping centers, national franchises, and exclusive estate and equestrian homes, with over 2 million square feet of commercial and retail space, JFB provides hands-on professional expertise, which has led to the quality and production we are known for.
JFB's reputation has been built on our clients' trust and the value we bring to each project.
JFB is proud that most of our projects are obtained through referrals and repeat customers, and that to date we have provided general contracting and construction management services in 36 U.S. states.
Caution Regarding Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the risk factors discussed in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our Forms 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law.
JFB Construction Holdings Contact:
Joseph F. Basile, III
561-582-9840.
[email protected]
Investor Relations Contact:
CORE IR
Mike Mason
516 222 2560
[email protected]
