Sunday, September 27, 2020

Statement from H.E. Younis Haji Al Khoori, Undersecretary of the Ministry of Finance on the Saudi National Day

It is only natural for Emirati people to join their Saudi brothers in celebrating the 90th National Day of the Kingdom of Saudi Arabia....

Philippine unicorn Revolution Precrafted bags $300m Caribbean deal

Philippine-based unicorn startup Revolution Precrafted has sealed a $300-million exclusive deal in the Caribbean for the supply of its prefabricated units.

In a statement on Monday, Revolution Precrafted said it has sealed the exclusive deal with NOVO Development, a Caribbean-based real estate firm that operates in the island nations of Trinidad and Tobago, Guyana, Jamaica, and the Bahamas.

“The initial tie-up represents just Phase 1 of a plan to develop a total of $1 billion worth of structures to the rapidly-growing demand for housing in the Caribbean,” the startup said.

The initial franchise deal with NOVO Development involves the supply of at least 1,000 units in the region that would create sales revenues of as much as $300 million.

Revolution Precrafted offers exclusive tie-ups in over 195 countries that allow its partners to use its designs and units for a fee of $125,000 to $2 million, depending on the size of each country’s economy.

Established in December 2015, Revolution Precrafted sells highly customisable prefabricated properties, including pavilions, homes, condos, hotels, adaptive amenity spaces, transposable restaurants, pop-up retail shops, gyms, and even customized clamping that can be ordered on the company’s website.

The Caribbean deal comes a month after the company signed a non-exclusive agreement with Myanmar’s KT Group for the manufacture and supply of prefabricated homes to be located in key developments in the historic city of Yangon. It includes the $1.2 billion, hectare-acre Okkyin City, a grand riverfront property, envisioned to be Myanmar’s landmark sport and internet hub.

In March, the company also sealed a landmark $3.2-billion deal to build luxury apartments and hotel villas in Dubai’s The World Islands.

The multi-billion-dollar agreement with Dubai-based luxury property developer Seven Tides involves the design, supply, and construction of the condominium apartments and villas on the man-made island that resembles the global map.

Robbie Antonio, Revolution Precrafted Founder and CEO, said the company has entered into a franchise agreement with NOVO for the Caribbean and Latin America markets. The startup is also in the final stages of negotiations to provide dealerships in Africa and key countries in South America and Southeast Asia.

The real estate firm is also venturing into branded design projects for condominium towers, residential villages, apartments, hotels and other related structures.

“These new business strategies will help the company become more ubiquitous. They will help us address the growing global demand for our branded, limited edition houses,” Antonio added.

He also revealed talking to developers in Southeast Asia, North America, and South America for a rollout of branded towers this year. The company is looking at other developers in the Indochina region as well.

In the Philippines, Revolution Precrafted is supplying homes for the $1.1-billion Batulao Artscapes in Nasugbu Batangas and the $350-million Revolution Flavorscapes project in Mexico, Pampanga.

Also Read:

Philippine unicorn Revolution Precrafted enters Myanmar in pact with KT Group

Philippine unicorn Revolution Precrafted bags $3.2b deal in Dubai

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