REVOLUTION PRECRAFTED BAGS $300M DEAL
Revolution Precrafted, one of the strongest property-tech companies in the world, is expanding in the Caribbean market after landing a $300 million exclusive dealership deal with NOVO Development.
Robbie Antonio, Revolution Precrafted founder and chief executive officer, explained that his company and NOVO Development—a Caribbean based firm engaged in real estate activities in the island nations of Trinidad and Tobago, Guyana, Jamaica and Bahamas—entered into a Franchise Agreement for the Caribbean and Latin America markets.
This tie up represents Phase 1 of a plan to develop a total of $1 billion worth of structures to meet the rapidly-growing demand for housing in the Caribbean.
According to Antonio, the initial franchise deal with NOVO Development involves the supply of at least 1,000 units in the region that would create sales revenues of as much as $300 million. Revolution Precrafted is also in the final stages of negotiations to provide dealerships in Africa and key countries in South America and Southeast Asia.
The dealership campaign also offers exclusive rights to supply Revolution Precrafted’s designs for a fee of $125,000 to $2 million depending on the size of each country’s economy. Since its inception in 2015, Revolution has become the fastest startup to reach unicorn status, valued at over $1 billion. It has also partnered with 73 of the most influential, respected and renowned architects and designers including Pritzker-winning architecture luminaries.
For its branding initiative, Revolution Precrafted will offer real estate developers the chance to avail of interior and project designs from the company’s existing collection of designers and beyond. The branding fee will be equivalent to a portion of the net sellable area for branded towers and related structures. Clients can also avail of Revolution’s interior design services for $25 per square meter, provided that each project has a minimum value of $350,000.
Antonio made the announcement as part of the exclusive franchise dealerships the company is now offering in over 195 countries. The real estate firm is also venturing into branded design projects for condominium towers, residential villages, apartments, hotels and other related structures.
“These new business strategies will help the company become more ubiquitous. They will help us address the growing global demand for our branded, limited edition houses,” Antonio added.
Antonio further disclosed that he is also in talks with leading developers in Southeast Asia. North America and South America for a roll out of branded towers this year. The company is looking at other developers in the Indochina region.
In the next three years, the company wants significant projects in at least 55 countries.
“These are strategic business decisions that will help us compete in the global stage,” Antonio said.
Revolution Precrafted is embarking on an aggressive global strategy in 2018. In March, the company announced its partnership with Seven Tides to build condominiums, apartments and hotel villas on nine islands at “The World” project in Dubai. The company also signed a deal with Myanmar’s KT Group for the supply of homes and retail structures for the $1.2 billion Okkyin mixed development project in Yangon.
In the Philippines, Revolution Precrafted is supplying homes for the $1.1 billion Batulao Artscapes in Nasugbu, Batangas and to the $350 million Revolution Flavorscapes project