Revolution Precrafted, a homegrown supplier of prefabricated structures, announced its entry into Puerto Rico, its ninth international market.
The company said it had partnered with real estate firm Grupo Cacho of Puerto Rico to supply over 2,000 residential villas on the offshore island of Vieques and in a property near Boqueron Bay Cabo Rojo, Puerto Rico.
“This new venture represents a significant step as we strive to do our part to help revive the tourism infrastructure and help rebuild Puerto Rico. We want to address the pressing concern on the lack of housing units in Vieques and the surrounding islands, Robbie Antonio, founder and CEO of Revolution Precrafted, said in a statement.
Antonio said the projects would be implemented in two phases.
For the initial phase, he said Revolution Precrafted and Grupo Cacho had agreed to build 27 mid-range and luxury residential units on a projected 4.2-hectare property along the state road in Vieques.
The houses will range from 200 to 250 square meters, standing on 1,000 square meter lots. These houses will be built across the W Retreat Hotel in Vieques and will have a total cost of $13.5 million.
The next phase will cover the rest of the homes near Boqueron Bay.
These will be two to three-bedroom villas with an average cost of $250,000.
Revolution Precrafted has been on an expansion spree, bagging over $6.63 billion worth of projects over the last six months.
This included the $3.2-billion partnership with Seven Tides for “The World Islands” in Dubai.
In the Philippines, it partnered with Century Limitless Corp. for the $1.1-billion Batulao Artscapes in Nasugbu, Batangas, the $750-million Revolution Flavorscapes in Mexico, Pampanga and the $125-million Puerto Azul residential project.