A local designer and supplier of prefabricated structures in the Philippines has set a $3.2B deal with Dubai firm Seven Tides to develop parts of “The World” located in the waters of the Persian Gulf.
The World is a collection of 300 artificial islands which represent the world’s continents and countries, reported Inquirer.
Robbie Antonio, founder and CEO of Revolution Precrafted, said that the developers aim to build two-to-three bedroom luxury apartments and villas in the area which will be priced at $150,000 to $1.5 million.
Antonio added that developments are set to happen in nine islands in The World soon and that the construction will begin in the so-called Coronation Island.
The company currently tries to broaden their market by being more price sensitive. The current target markets are home buyers from Russia and Europe.
Aside from targeting the Russian and European market, Revolution Precrafted also plans to reach 20 more countries in the next 12 months, including Myanmar and other key markets in Southeast Asia.
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