REVOLUTION Precrafted Properties, Ltd. continues its global expansion in Bahrain, after striking a deal to supply residential villas for the country’s Property One Investment Company (Property 1).
In a statement issued Thursday, the property technology firm said it has signed an agreement with Property 1 where it will design and supply up to 500 modular residential villas for Property 1 and its clients over the next five years. The 200-square meter (sq.m.) villas will have four bedrooms each, valued from $320,000 and up.
The company will also design and supply modular residential villas, specifically for the Middle East, using precast and prefab technology. The villas will then be supplied to different housing developments in the country.
Revolution Precrafted expects to finalize the design and begin supplying the villas to clients by 2019.
Revolution Precrafted Founder and Chief Executive Officer Jose Roberto R. Antonio said this partnership in Bahrain will further strengthen its presence in the Gulf Cooperation Council region.
“Bahrain is an important part of this expansion because of its strategic location and its very strong economy. We are also very excited to partner with Property 1 because of its management’s track record and experience in the real estate industry,” Mr. Antonio was quoted as saying in a statement.
Revolution Precrafted described Property 1 as a property services group founded in Bahrain in 2008. The company said Property 1’s Founder and Managing Director Murad Al Ramadan told them to design a modular home that is eco-friendly and energy efficient by using solar panels to save energy costs. The units must also be economically affordable that can sustain the weather conditions in the Middle East.
Aside from the Philippines, the company has signed deals within the last six months that has allowed it to enter the United Arab Emirates, Myanmar, Japan, Indonesia, Ecuador, Puerto Rico, Guyana, Jamaica, and Trinidad and Tobago.
These deals amount to more than $7.5 billion worth of contracts, the largest of which is the $3.2-billion project with Seven Tides International for The World Islands in Dubai, followed by the $1.2-billion Okkyin project with Myanmar’s KT group.
The company’s local projects are with Century Limitless Corp., where it will supply prefabricated structures for the $1.1-billion Batulao Artscapes in Nasugbu, Batangas, and the $750-million Revolution Flavorscapes in Mexico, Pampanga.
Given its fast-paced expansion, the company earlier revealed it is mulling plans to go public either in Singapore, the United States, or United Kingdom. Revolution Precrafted also looks to construct a factory within Asia this year, as part of its plan to have six manufacturing facilities in regions where it is present. — Arra B. Francia