by The Philippine Star
MANILA, Philippines — Revolution Precrafted, one of Southeast Asia’s strongest unicorns – or startup companies valued at over $1 billion – has tied up with Myanmar conglomerate KT Group for several projects, including the $1.2-billion Okkyin City riverside property in Yangon.
“We are excited to announce our agreement for the manufacture, shipping and installation of prefabricated homes to Myanmar, one of the fastest growing economies in Southeast Asia. We are also pleased to partner with KT Group, one of the most influential and respected diversified companies in the region,” said Robbie Antonio, Revolution Precrafted founder and CEO.
The non-exclusive agreement involves the manufacture and supply of prefabricated homes in key developments in the historic city of Yangon.
Antonio said Revolution Precrafted has agreed to build residential projects in the Okkyin mixed-used development project, which would cost at least $350 million to develop.
The Okkyin project will include a jetty pier, sports and recreation facilities, bus terminal, green parks, a school, a student accommodation, a business park, a sports hotel, and a riverfront retail and commercial pop-up network.
Aside from Okkyin, Antonio said Revolution Precrafted is also in talks with the KT Group to develop other land assets in Yangon.
Revolution Precrafted intends to build 36-square meter Origins and 23 square meter Crib basics for Myanmar homebuyers. These are simple, sleek but functional prefabricated homes that can be completed in three to six months.
“We believe that these mid-market prefabricated homes will appeal to a significant chunk of the Myanmar population,” Antonio added.
“Myanmar is an emerging economy with 53 million people. We want to take advantage of this sizable market and make it a cornerstone of our regional expansion, especially now that the country is also opening itself to global trade and investments,” Antonio added.
He said Revolution Precrafted’s entry into the Myanmar market is a key milestone that strengthens the companys expansion to Indochina and the rest of the world.
Established in the 1950s, KT Group is one of the largest diversified firms in Myanmar. Its core business is real estate and property development but has since expanded into energy, trading, investments and agriculture. It has also expanded to included branches in Bangalore, India and Kunming, China.
On the other hand, Revolution Precrafted, launched in 2015, is a tech-based property company that disrupted the global architecture, design and art industries through its design-forward homes, pavilions, hotels, furniture, glamping structures, and soon, office spaces.
Still the only unicorn startup in the Philippines, it has in less than two years already partnered with 72 of the world’s preeminent architects, designers and artists, solidying its position as the leading developer of branded precrafted homes.
It is the brainchild of Antonio, son of Century Properties founder and chairman Jose Antonio, who became the youngest person in the Forbes Philippines 50 Richest last year.