Philippine proptech unicorn Revolution Precrafted to build 2,000 villas in Puerto Rico

San Juan, Puerto Rico. Photo: Pixabay

Philippines-based unicorn developer Revolution Precrafted announced Monday that it has bagged yet another international deal, this time to supply over 2,000 residential villas in Puerto Rico.

The deal marks Revolution Precrafted’s entry into its ninth international market since its inception in December 2015. The startup said the supply of villas is expected to help plug the deficit in the number of available housing units in the hurricane-hit Caribbean territory.

In a statement, Revolution Precrafted founder and CEO Robbie Antonio said the company signed an agreement with real estate firm Grupo Cacho of Puerto Rico to supply over 2,000 residential villas on the offshore island of Vieques and another prime location on a 212-hectare near Boqueron Bay in Cabo Rojo.

The residential villas will have an average cost of $250,000 and will take three years to complete.

“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 of the lack of housing units in Vieques and the surrounding islands,” Antonio said.

He added that the Puerto Rico undertaking will be implemented in two phases.

For the initial phase, Revolution Precrafted and Grupo Cacho have agreed to build a total of 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, Antonio revealed, and will have a total cost of $13.5 million.

The bigger bulk of the partnership would start towards the first quarter of 2019.

Established in December 2015, Revolution Precrafted sells highly customizable prefabricated properties, including pavilions, homes, condos, hotels, adaptive amenity spaces, transposable restaurants, pop-up retail shops, gyms, and even customized clamping that can be ordered on the company’s website.

Last week, the property technology (proptech) startup signed an agreement with the Philippine listed firm Boulevard Holdings Inc to supply at least 800 units on a 12-hectare parcel of land inside the Puerto Azul Beach Club and adjacent valleys in Ternate, Cavite, a province in the country.

So far this year, Revolution Precrafted has sealed more than $6.5-billion worth of deals overseas. These include the $3.2 Billion World Islands deal with Seven Tides in Dubai, the $1.2-billion Okkyin project in Myanmar, the $300-million dealership in the Caribbean, and most recently, a luxury resort project in Okinawa.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.