REVOLUTION Precrafted Philippines, Inc. struck a $300-million deal with Trinidad and Tobago-based NOVO Development Ltd. to supply around 1,000 residential units in the Caribbean.
In a statement issued Monday, the supplier of prefabricated structures said it has signed a franchise agreement with NOVO for the Caribbean and Latin American markets. This includes the island nations of Trinidad and Tobago, Guyana, Jamaica, and the Bahamas.
NOVO said the partnership with Revolution Precrafted will allow the company to bring innovative building technology in the Caribbean region.
“Our desire is to reshape the thinking of low income individuals’ view of affordable homes and prove that they too can own an elegantly designed modern home,” Revolution Precrafted quoted NOVO as saying in a statement.
Under the deal, Revolution Precrafted will supply at least 1,000 prefabricated units in the region with a sales value of $300 million. This will be the first phase of the dealership that aims to develop $1 billion worth of structures in the Caribbean region.
Aside from its deal in the Caribbean, Revolution Precrafted also announced a new product offering, or 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,” Revolution Precrafted Founder and Chief Executive Officer Jose Roberto R. Antonio said in a statement.
Revolution Precrafted will also be offering their interior and project designs to real estate developers, with the branding fee to be valued at a portion of the net sellable area for branded towers and related structures.
The company has been steadily expanding since it was founded in 2015. To date, it has partnered with Seven Tides International for a $3.2-billion project in Dubai. The company will build condominiums, apartments, and hotel villas on nine islands that are part of Seven Tides’ “The World” project.
The property-tech firm also has a $1.2-billion deal with Myanmar’s KT Group for home and retail structures in the Yangon region.
Mr. Antonio said he is currently in talks with developers in Southeast Asia, North America, and South America for the development of branded towers this year. The executive is eyeing deals in the Indochina region as well, as it targets to be present in at least 55 countries in the next three years.
Locally, Revolution Precrafted’s projects include Batulao Artscapes in Nasugbu, Batangas with sales value of P41.1 billion, and Revolution Flavorscapes worth $350 million in Mexico, Pampanga. — Arra B. Francia