by Property Report
A Philippine startup has won exclusive rights to construct luxury prefabricated homes in The World Islands in the United Arab Emirates.
After month-long negotiations, Revolution Precrafted signed a USD3.2-billion agreement with Dubai-based developer Seven Tides to design, supply, and install condominiums, apartments and villas in the manmade archipelago just off the mainland emirate.
“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 Robbie Antonio, founder and CEO of Revolution Precrafted, in a statement released this week.
The two- to three-bedroom homes will be manufactured offsite and assembled in The World Islands.
Seven Tides will construct a jetty for the project’s seafaring residents and guests. The company will also oversee landscaping and utility connections for the prefab units.
“The luxurious look and feel of the condominium apartments and hotel villas will further elevate the status and image of the World Islands as the playground for the most affluent, and privileged residents from Dubai and beyond,” said Abdulla Bin Sulayem, chief executive officer of Seven Tides.
Revolution Precrafted manufactures prefab dwellings that feature designs from 72 of the world’s most famous artists and design leaders, including six Pritzker-award winning architects. Having raised a series B round led by Singaporean venture capitalist K2 VC late last year, Revolution Precrafted is now valued at over USD1 billion, making it the Philippines’ first and only unicorn.
Conceived by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, The World Islands are a project of state-run developer Nakheel Properties.