Tuesday, May 30, 2017
Luxury prefab developer eyes low-cost housing market
MANILA - A Filipino developer of designer prefabricated homes said Tuesday it was hoping to partner with government for low-cost housing projects.
Revolution Precrafted CEO and founder Robbie Antonio said the modular homes would be affordable if the scale reaches “hundreds of thousands or tens of thousands.”
Antonio’s venture is poised to become the Philippines’ first “unicorn” or $1-billion startup. Aside from designer homes, the company is targeting prefabricated condominiums, hotels and pop-up retail shops.
“We’ve been really trying to serve that base of the pyramid,” Antonio told ANC’s The Boss. “The affordable market is a goal from the CSR (corporate social responsibility) perspective.”
“It’s about design democratization. We would go to the bottom. It’s a thick market and need homes and if we can do that for the country, we can do it for the region.”
The government needs to build some 5.7 million homes in six years to address the country’s housing backlog, according to analysts.