PH prefab firm bags Myanmar deal
Revolution Precrafted, a homegrown supplier of prefabricated structures, is expanding to Myanmar.
The company, founded by Filipino businessman Robbie Antonio, said it had signed a nonexclusive deal with Myanmar’s KT Group to build and supply prefabricated homes in Yangon. This includes the $1.2- billion project Okkyin City, which is being positioned as Myanmar’s landmark sports and internet hub.
“We are excited to announce our agreement for the manufacture, shipping and installation of prefabricated homes to Myanmar, one of the fastest growing economies in Southeast Asia. We are also pleased to partner with KT Group, one of the most influential and respected diversified company in the region,” Antonio said in a statement.
“Myanmar is an emerging economy with 53 million people. We want to take advantage of this sizable market and make it a cornerstone of our regional expansion, especially now that the country is also opening itself to global trade and investments,” he added.
Revolution Precrafted claims to be the country’s only unicorn startup given its more than $1 billion valuation.
Myanmar is among a string of countries the firm said it was targeting this year. Earlier this week, it sealed an agreement with developer Seven Tides to build luxury homes in Dubai’s The World project.
Antonio noted in the statement that Revolution Precrafted had agreed to build residential projects in the Okkyin mixed-used development project. This would cost at least $350 million to develop.
As noted, the project would generate a total of $1.2 billion in sales. It could go higher if Revolution Precrafted agrees to build high-rise properties, the statement noted.
The Okkyin project will include a jetty pier, sports and recreation facilities, bus terminal, green parks, a school, a student accommodation, a business park, a sports hotel, and a riverfront retail and commercial pop-up network.
“We believe that these mid-market prefabricated homes will appeal to a significant chunk of the Myanmar population,” Antonio said.
The company’s other projects include 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.
