by VG Cabuag, Business Mirror
REVOLUTION Precrafted Properties Philippines Inc., a company led by one of the sons of former Ambassador Jose E.B. Antonio, said it bagged a $3.2-billion deal that will supply Dubai-based luxury property developer Seven Tides Ltd. to manufacture and supply prefabricated condominium apartments and hotel villas.
The precast units will be built on Dubai’s man-made archipelago “The World Islands,” which is composed of some 300 artificial islands designed to resemble the global map. Envisioned to rival the Palm Jumeirah as one of the most prominent landmarks in the United Arab Emirates, the project was spearheaded by government-owned Nakheel Properties and is the brainchild of Sheikh Mohammed Bin Rashid Al Maktoum, the ruler of the Emirate of Dubai.
“We are proud and excited to partner with one of the best property developers not only in Dubai, but in the world. We will manufacture sophisticated, design-driven, precrafted condominium apartments and hotel villas, consistent with the kind of luxurious structures the public have come to expect from us and Seven Tides,” said Jose Roberto R. Antonio, founder and CEO of Revolution Precrafted.
Antonio, who is also managing director of listed firm Century Properties Group Inc., said he is also targeting to list his company “beyond 2020” when the company hits $10 billion in value.
To reach such goal, Antonio said the company has to snag projects in different parts of the world.
“It’s not just entering countries; we’re proliferating there,” he told reporters on Monday. “There could be two, three, four, five projects [in one country].”
Revolution Precrafted is a supplier of prefabricated houses, pavilions and other structures. It has partnered with 72 of the world’s artists and designers.
The agreement between the company and Seven Tides pertains to the design, supply and installation of two-bedroom to three-bedroom luxury condominium apartments and villas to be premanufactured, shipped and assembled on The World Islands.
The deal, worth about P166.512 billion in current exchange rates, was finalized after a monthlong negotiation, according to Antonio.
“We decided to partner with Revolution Precrafted because we believe in their vision and capabilities in creating elegant, bespoke but functional prefabricated homes, pavilions and related structures,” Seven Tides CEO Abdulla Bin Sulayem said.
The Dubai-based company will spearhead the site development and the overall infrastructure of the islands. It will also be handling the construction of the jetty, the landscaping of the islands, and the construction of the provisions for the main utility services.
Based on the agreement between the two companies, the Coronation Island is the first one to be completely developed and populated, and will be done in phases, due to its sheer size. The island, in the southern portion of the project, measures 2.2 million square feet.
Revolution Precrafted will have exclusivity on the design, supply and construction of the condominium apartments and villas on this island.
The Dubai project is part of Revolution Precrafted’s global expansion. The company is setting its sights on at least 20 countries this year.