Dubai-based property developer Seven Tides has signed a $3.2-billion agreement with the Philippines’ Revolution Precrafted to build condominium units and hotel villas on an artificial island in The World Islands in Dubai.
The project will be built on an island named after Coronation Island in Alaska, which boasts an area of 2.4 million square meters. Revolution Precrafted will build and supply two to three-bedroom prefabricated condominium apartments and hotel villas.
Robbie Antonio, the founder of Revolution Precrafted, said: “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 pre-crafted condominium apartments and hotel villas, consistent with the kind of luxurious structures the public have come to expect from us and Seven Tides.”
Seven Tides CEO Abdulla Bin Sulayem said, “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.”
Revolution Precrafted aims to sign projects in at least 20 countries this year. The start-up’s deal with Seven Tides is its first massive property project abroad, as its previous agreements included residential communities based in the Philippines.
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.
Revolution Precrafted, a homegrown designer and supplier of prefabricated structures, sealed its biggest deal yet: A $3.2-billion project to build upscale homes in one of Dubai’s most iconic locations.
Revolution Precrafted partnered with Dubai-based luxury builder Seven Tides to develop part of “The World,” a collection of 300 artificial islands representing the world’s continents and countries along the coast of Dubai in the Persian Gulf.
Revolution Precrafted, which launched in 2015, is founded and led by CEO Robbie Antonio, whose family owns listed property developer Century Properties Group Inc.
The Dubai project is the company’s latest initiative to gain a bigger global footprint and possibly go public in Singapore or London in a few years.
Revolution Precrafted, which claims a valuation of more than $1 billion today, hopes to be worth around $10 billion by 2020, Antonio told reporters on Monday. It plans to reach 20 countries in the next 12 months, including Myanmar and other key markets in Southeast Asia.
For The World in Dubai, Revolution Precrafted will supply two- to three-bedroom luxury apartments and villas, which will retail for $150,000 to $1.5 million.
The partnership covers a total of nine islands in The World, with the first being the so-called Coronation island, which is about 20 hectares. Antonio noted that they were trying to broaden their market by being more price sensitive. He said they expected home buyers to come from all over the world, mainly Russia and Europe.
Revolution Precrafted earlier rolled out the $1.1-billion Batulao Artscapes and the $345-million Revolution Flavorscapes residential communities, both in the Philippines. Batulao Artscapes consists of 8,520 homes while Flavorscapes will have at least 7,100 prefabricated homes.
Seven Tides CEO Abdulla Bin Sulayem and CEO Jose Roberto Antonio Revolution Precrafted CEO pictured at the press conference today.
A Philippines-based developer has signed a $3.2 billion agreement to build luxury apartments and hotel villas in Dubai’s The World Islands.
The partnership with luxury developer Seven Tides will see Revolution Precrafted design, supply, and install two- and three-bedroom luxury condominium apartments and villas. The various structures will be pre-manufactured, shipped and then assembled on The World Islands.
Seven Tides, owner of ten of the islands in the man-made development archipelago, announced plans last year to develop luxury resort on The World islands.
In an interview with Arabian Business, Seven Tides CEO Abdulla Bin Sulayem said he the company had started developing a luxury resort on one of the South American islands, closest to the Dubai shoreline. He said the planned to develop Maldives-style villas on the island.
The contract with Revolution Precrafted is to develop villas for nine of the islands, according to CEO Jose Roberto Antonio, with the exact number of villas being finalised.
“The total number of units is actually being masterplanned right now, so I can’t really verify or ascertain that as of this moment, but you can expect and approximate that $300-$500m worth of sales, depending on how mid-rise we would do for each one,” Antonio told Bloomberg Philippines.
“But we’re going to do a combination of unique homes that are decongested for private use, and some mid-rise –three to five storey hotels and hotel residential buildings.”
Antonio said the price point for villas would be about $150,000 to $1.5m, and averaging $500,000.
He said the masterplan would be completed in the next two to three months, with a launched planned for Q3 this this year on an island by island basis.
“We’re going to do each island per phase – we’re not going to launch nine islands at the same time, with nine different concepts, we’re going to do it with one big island and one small island,” he said.
In a statement to media in Asia, Bin Sulayem said, “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.”
The first island to be developed, measuring 2.2 million square feet, called Coronation Island, will be done in phases.
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.
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.
Revolution Precrafted has entered into a formal agreement with Central Country Estate, Inc. (CCEI) for the construction and delivery of $345 million worth of pre-crafted homes and retail stores in a 70-hectare prime development in Lakeshore, Pampanga.
The project, named “Revolution Flavorscapes at Lakeshore” is the world’s first livable food park which would feature pop-up stores offering cuisines from 200 countries.
The development boasts of groundbreaking amenities including a Museum of Ice Cream, Museum of Candy, A Chocolate Gallery and a Microbrewery with surrounding beer garden.
There will also be a floating restaurant, floating cinema and amphitheater situated at the banks of Lakeshore’s 12-hectare man-made lake.
Revolution Precrafted Founder and CEO Robbie Antonio said
“we will supply $115.4 million to build more than 7,100 carefully curated prefabricated homes that will soon rise on a lusH space in The Lakeshore in Mexico, Pampanga, situated at a mere stone’s throw away from an existing manmade lake.”
Antonio revealed that Revolution Precrafted expects more than $345 million in revenues from the sale of the precrafted homes and popup retail stores, to be located in strategic areas around the development, in its first phase.
He said Revolution Flavorscapes is an homage to Pampanga, which maintains its reputation as the food capital of the Philippines.
For his part, CCEI Managing Director Brian John Mangio said the master planned community will give residents the chance to experience a lakeside lifestyle, complete with a wide array of industry leading amenities.
“We are building a FamiLeisure hub, a community swimming pool, a drive-by cinema, muse-ums, spas, and sports center that will promote an active life-style,” Mangio said.
Revolution Precrafted will build and supply 48 square meter townhouses called Revolution Alcove priced at an introductory price of R1.8 million; 60 square meter single attached units called Revolution Cocoon priced at R2.16 million; and 72 square meter origin squared units called Revolution Nest priced at R2.52 million. Meanwhile, the retail pop stores will be sold R6.2 million each. The development of the property is expected to start in 2018 and will be completed in phases. Development of the master planned community and the construction of the houses is expected to be completed over three years.
As developed cities in Asia grapple with ageing populations, savvy entrepreneurs are spotting opportunities to tap the silver dollar. Later this year Batulao Artscapes will complete its first phase: a retirement village to the south of Metro Manila that aims to attract overseas residents. South Korean and Japanese senior citizens are drawn to the Philippines and Batulao Artscapes assists with retirement visas as part of the package. The company behind the project, Revolution Precrafted, was set up two years ago by Jose Roberto “Robbie” Antonio and offers prefabricated homes designed by international architects. When finished, Batulao Artscapes will feature more than 6,000 properties alongside four museums – one of which will be designed by the Pritzker prize-winner Jean Nouvel, French architect of the Louvre Abu Dhabi. Revolution Precrafted is working with Philippine property developer Century Properties, which was set up by Antonio’s father and recently completed another landmark associated with a gilded senior citizen: Trump Tower Manila.
A mountain range on the outskirts of Manila may be the last place you’d expect to find a world-class art museum, let alone four. But property magnate Robbie Antonio is determined to make his latest development, Batulao Artscapes, a must-see destination in Southeast Asia
ABOVE Robbie Antonio (Photo: Courtesy of Revolution Pre-crafted)
The recently announced Batulao Artscapes, located at the foot of the Philippines’ Mount Batulao, will be home to four themed museums designed by four different architects, all of whom are Pritzker Prize laureates:
There’s the Revolution Museum for Design and Architecture by Christian de Portzamparc (who designed Cité de la Musique in Paris), the Revolution Museum for Visual Arts by Jean Nouvel (who designed the Louvre Abu Dhabi), the Revolution Museum for Art and Technology by US-based Philip Johnson/Alan Ritchie Architects, and the Revolution Museum for Performing Arts by Japan’s Tange Associates.
Robbie Antonio, an avid art collector and founder and CEO of Revolution Pre-crafted—a start-up for prefabricated designer homes—is the mastermind behind the US$1.1 billion project, which he calls “the world’s first live-in art park”.
“For Batulao Artscapes, I was inspired by Naoshima which, in my opinion, is one of the most remarkable art and architecture destinations in the world,” he says, referring to the island in Japan known for its contemporary art museums, mostly designed by another Pritzker Prize-winning architect, Tadao Ando.
Antonio adds: “There’s also Inhotim in Brazil (a public contemporary art park within a 5,000-acre jungle). These spots around the world have become cultural meccas, so I thought, what if we could create a similar project, but this time, giving people the option to live there? Batulao Artscapes is a place where you can enjoy the cool mountain air in your prefabricated weekend home, and see world-class art in a Jean Nouvel museum without having to go to the Louvre Abu Dhabi.”
Another major attraction of Batulao Artscapes is its residential offerings. Those looking for chic weekend retreats or retirement properties can consider prefab designer homes by Berlin’s Studio Libeskind, French-Brazilian architect Elizabeth de Portzamparc, Pelli Clarke Pelli, LA-based Marmol Radziner, style icon Daphne Guinness and even rock star Lenny Kravitz. Plans also include sports facilities, a floating chapel, and a man-made lake and beach.
ABOVE An artist’s interpretation of Batulao Artscapes (Photo: Courtesy of Revolution Pre-crafted)
Antonio’s idea for Revolution Pre-crafted, the Philippines’ first unicorn startup, came about after he commissioned renowned Dutch architect Rem Koolhaas to design his home in the Philippines. He realised there was a wealth of opportunity in working with award-winning architects to create upscale, yet easily accessible living and commercial spaces, similar to how high street brands were collaborating with high fashion designers.
By this time, he had amassed quite an art collection, including works by Francis Bacon and Jeff Koons, even commissioning portraits from Julian Schnabel, Damien Hirst, Takashi Murakami, and David Salle.
“For a while, I really followed the circuit. Modern contemporary artists like Bacon and Pollock are my favourite, but right now I’m also looking at the masters, like Delacroix, Rubens, and Goya.”
ABOVE Eden by Marcel Wanders (Photo: Courtesy of Revolution Pre-crafted)
In the last two years, Antonio has made “prefabricated” a real buzzword in the property development arena. Since he started Revolution Pre-crafted in 2015, Antonio has made headlines by successfully enlisting more than 30 of the world’s star architects—including Marcel Wanders and Zaha Hadid Architects—to work on his ambitious prefab projects, ranging from cutting-edge homes to pavilions, pop-ups, and restaurants.
With the first phase of Batulao Artscapes underway, Antonio’s team hopes to get at least two of the museums open by the time Art Basel Hong Kong comes around in 2019.
“We want visitors to the show to include us in their itineraries. The plan is to have an internationally curated collection together with commissioned work, host gallerists and to juxtapose local with international artists. Why not have a Poklong (Anading) next to a Basquiat, right?”
Mount Batulao, famous for its easy hiking trails and breathtaking views, is a 90-minute drive Manila, and a stone’s throw from Tagaytay, a popular weekend getaway.
On a building site about 50 miles outside the Philippine capital of Manila, construction is underway on a completely new 346-acre town. But much of the work is taking place elsewhere. In fact, most of the 6,000 homes in the development, called Batulao Artscapes, will be prefabricated — built in factories and then transported to the site.
Expected to complete by 2020, the masterplan comprises 12 different styles of home set across four “villages.” Prospective residents can choose from prefabs designed by notable creatives, from artist David Salle to the musician-turned-interior-designer Lenny Kravitz.
But given that modular homes were initially created to deliver affordable housing — quickly and at volume –what can an entire town of designer prefabs offer that conventional settlement can’t.
A different model
For Dutch designer Marcel Wanders — whose “Eden” house is being made available in Batulao Artscapes — a large-scale approach makes prefabs more viable for both designers and buyers.
“The problem with prefab housing is that while you can buy the house and build it quickly, you have a lot on your plate,” he said in a phone interview.
“You still need electricity, water, sewage — it needs a lot of stuff. We’d basically be creating half a product. So I thought, ‘Why wouldn’t we make a prototype for a developer (who can) build and sell the houses?’
“Now you can have a prefab house that has everything you want — electricity and so on — that is organized by the developer.”
Renowned as an interior and product designer, Wanders was initially approached to work on the garden design at Batulao Artscapes. The Eden houses marks his first venture into prefab design.
The Dutchman’s glass-walled houses come in three distinct styles. Inhabitants are able to customize their purchase with different color schemes and finishing materials. And while the homes will be constructed in a factory, they were designed with the Philippine climate in mind.
Filipino industrial designer Kenneth Cobonpue has made his prefab duplex available to prospective residents at Batulao Artscapes. Credit: Batulao Artscapes
“They have these two big colonnades which are there to keep the roof up — but they also turn the outdoor space into an indoor space,” Wanders said. “In the Philippines, the outside is great, but you want to be protected from the sun. So (the houses have) shading and roofing that makes them livable, with a big tree on the inside too.
“Behind the glass you’ll have your bedroom, a small living room and your inside kitchen. But as soon as you open the glass walls, the kitchen suddenly has an outdoor area.
“Then you have a really big home for the price of a small one.”
The economics of prefabs
This rationale may apply at the lower end of the development’s offerings — the cheapest homes are being sold for 2.5 million Philippine pesos (approximately $50,000). But with the most expensive units expected to go for 26 million pesos (over $1 million), the project also reflects a growing market for luxury prefabs.
Attitudes towards this once utilitarian form of housing are changing, according to Sheri Koones, a journalist and author of six books on prefabricated housing.
Philippine architecture and design firm Budji+Royal designed all of the houses in the Collection village, one of the first four clusters of homes to open in Batulao Artscapes. Credit: Batulao Artscapes
“It’s just a much better way of building,” she said in a phone interview. “Now, people are building not only inexpensive homes, but designer houses. The most important thing is that you can have your house more quickly. You don’t have mold and a lot of the problems that you would have with wood that has been exposed to the elements.
“When they first started building modular houses, they were very simple. But they’ve just become much more intricate. Years ago, there were things that they couldn’t do, and today they can do almost anything.”
A prefab designed by the Los Angeles-based architecture firm Marmol Radziner. Interiors were designed by Kravitz Design, a boutique firm established by musician Lenny Kravitz. Credit: Batulao Artscapes
But if customers fork out for high-end units, one of the primary benefits of prefab housing — namely lower costs — may be undermined, explained Ryan E. Smith, an Associate Professor and Director of the Integrated Technology & Architecture Center (ITAC) at the University of Utah.
“The whole game is about value creation,” he said in a phone interview.
“Whether it’s one house or thousands of units, the question is, ‘If I do more in a factory does it add value to the overarching proposition?’ If it doesn’t, then you don’t do it, rather than chasing some kind of idealism or the novelty that comes from (having a house that was) made in a factory.
An 81,000-square-foot artificial lake will be built at the heart of the Batulao Artscapes development. Credit: Batulao Artscapes
“Modular construction takes about 30 to 60 percent more material to put into the building in order to stabilize it — we’ve done that research. But the money you save in lifecycle costs — time and labor — is how you’re able to compete,” said Smith, who is also a trained architect and author of the book “Offsite Architecture: Constructing the Future.”
Nonetheless, Smith said that prefab developments on the scale of Batulao Artscapes have not been attempted “in recent times” — meaning that the sums may yet add up.
“The volume that they’re showing presents a real opportunity,” he said of the Philippine development. “This kind of (project) is rare, therefore it’s hard to tell whether they can capitalize on it and deliver on their promise.”
A ‘livable art park’
There are certainly plenty of promises being made.
In addition to high-end prefabs, Batulao Artscapes is offering extensive public art facilities designed by the likes of Pritzker Prize-winning architects Christian de Portzamparc and Jean Nouvel, the man behind the Copenhagen Concert Hall and the Louvre Abu Dhabi.
The firm responsible for the project, Revolution Precrafted, claims that it is offering people a rare chance to live in a home designed by a leading architect.
It also hopes to create a community of likeminded people, according to Robbie Antonio, the CEO of Revolution Precrafted and managing director of Century Properties, the Philippine real estate giant bankrolling the $1.1 billion project.
The detached residential unit “Tranche” has four bedrooms set across three floors. Credit: Batulao Artscapes
“(The residents will all share) the same DNA of people wanting to live in beautiful homes and beautiful structures,” he said in a phone interview.
A keen art collector who once commissioned Dutch ‘starchitect’ Rem Koolhas to design his Manila mansion, Antonio says that he was inspired by public art spaces like Naoshima, Japan’s “art island.”
“There was no real master plan for the world’s first livable art park,” he said. “To be surrounded by this (art) and beautiful homes is not present anywhere in the world.
“I’m going to personally curate everything, so that’s an integral part of the business plan.”
