Dubai-based property developer Seven Tides has signed a $3.2-billion agreement with the Philippines’ Revolution Precrafted for building condominium units and hotel villas on one of the artificial islands in The World Islands in Dubai.
A brainchild of the country’s youngest Forbes magazine rich-lister, Robbie Antonio, the Philippines start-up will bring prefabricated structures on one of the artificial islands patterned after the global map, reported Entrepreneur Philippines.
Seven Tides was reported to have bought a cluster of the artificial islands that make up “South America”. The project will be erected on a 2.4-million-sq-m structure named after Coronation Island in Alaska.
“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,” Antonio said in a statement.
Based on the agreement, Revolution Precrafted will manufacture and supply two to three-bedroom prefabricated condominium apartments and hotel villas.
“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,” Seven Tides CEO Abdulla Bin Sulayem said.
Revolution Precrafted’s deal with Seven Tides is on track with the company’s global expansion plan as it aims to sign projects in at least 20 countries this year. It is the company’s first massive property project abroad as it has previously signed agreements for residential communities based in the Philippines.
In 2017, it signed a deal with Century Properties, the company chaired by Antonio’s father, Jose E B Antonio, to supply more than 15,000 precrafted homes in Batulao Artscapes and Flavorscapes, both of which are located in the province of Batangas in southern Luzon in the Philippines.
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