Revolution Precrafted strengthens Gulf presence
Revolution Precrafted, a global supplier of prefab designer homes, pavilions, retail spaces and related structures, has signed an agreement with Property One Investment Co. for the supply of residential villas in Bahrain, a move that further strengthens the company’s presence in the Gulf Cooperation Council (GCC) region.
“This is an exciting period for the company as we continue to expand our footprint worldwide. Bahrain is an important part of this expansion because of its strategic location and its very strong economy. We are also very excited to partner with Property 1 because of its management’s track record and experience in the real estate industry,” said Robbie Antonio, founder and CEO of Revolution Precrafted.
Under the partnership, Revolution Precrafted will design and supply modular residential villas specifically designed for the Middle East using a combination of precast and prefab technology. Furthermore, Revolution Precrafted will supply Property 1 and its clients over the coming five years, up to 500 modular villas. The fourbedroom villas will measure up to 200 square meters each, and will be valued at affordable prices starting at $320,000.
These villas will be supplied to various housing developments in Bahrain, a country with a population of less than 1.5 million. Bahrain is considered a major financial hub and trading center in the Middle East.
Murad Al Ramadan, Property 1 founder and managing director, said the partnership will deliver modular homes designed to be eco-friendly and energy efficient using solar panels to save energy cost, economically affordable without compromising on quality, and exclusively designed to sustain the weather conditions and standards of the Middle East.
Revolution Precrafted will finalize the design and expect to start supplying homes starting 2019.
Bahrain is the 12th international market for Revolution Precrafted. The company is present in the Philippines, United Arab Emirates, Myanmar, Japan, Indonesia, Ecuador, Puerto Rico, Guyana, Jamaica, Trinidad, Jamaica.
Over the past six months, it has bagged over $7.5 billion worth of bigticket projects including the $3.2-billion partnership with Seven Tides for “The World Islands” in Dubai, and the $1.2-billion Okkyin project in Myanmar with KT Group. Last month, it signed a $300 million dealership agreement with Novo Development Ltd. to build at least 1,000 homes in the Caribbean nations of Trinidad and Tobago, Guyana, Jamaica and the Bahamas. It also landed a deal to build 85 luxury resort villas in Okinawa, Japan and 2,000 housing project in Puerto Rico with Grupo Cacho. It also recently announced its franchise agreement to supply mid-income homes in Ecuador.