PH Company Secures Billion-Dollar Deal With Dubai Firm

by The Filipino Times

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.

Philippines’ Unicorn Startup Nails $3.2 Billion Deal To Build Luxury Villas In Dubai

by Elyssa Christine Lopez, Esquire

The Philippines’ first unicorn, real estate startup Revolution Precrafted, has signed a landmark $3.2-billion agreement with a Dubai-based property developer that will bring its prefabricated designer structures to the famous man-made archipelago The World Islands in Dubai. It is Revolution Precrafted’s biggest deal so far.

A brainchild of the country’s youngest Forbes magazine rich-lister, Robbie Antonio, the startup signed the deal with Seven Tides for the design, supply and construction of condominium units and hotel villas on one of the artificial islands patterned after the global map. 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-square-meter 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.

Dubai state-owned Nakheel Properties spearheaded the construction of the artificial islands in 2003, which was envisioned to rival its similar property in United Arab Emirates, Palm Jumeirah. However, work on the ambitious project stalled after the onset of the global financial crisis in 2008 as Dubai World, the emirate’s investment arm, had a hard time repaying its $60-billion debt. The project was resumed only fairly recently. 

“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.

The startup made a name for tapping world-renowned architects to design precrafted home units, hotels and even furniture, which may be delivered across the globe. While founded only in 2015, the startup achieved unicorn status (or a startup with a total valuation of $1 billion) by October 2017 after it raised an undisclosed amount from a series B funding round led by a Singaporean venture capital firm K2 Global.

This story originally appeared on Entrepreneur.com.ph.

 

Seven Tides Signs $3.2bn Deal To Build Luxury Villas At The World Islands

by GCC News

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.

Philippines-based Firm Signs $3.2bn Dubai World Islands Contract

by Arabian Business

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.