REVOLUTION Precrafted Properties Inc., a company led by one of the sons of the owners of Century Properties Group Inc. (CPG), said it has signed a nonexclusive agreement with Myanmar’s KT Group for the manufacture and supply of prefabricated homes to be located in key developments in Yangon.
Jose Roberto R. Antonio, founder and CEO of the company, said the company’s entry into Myanmar is a key milestone of its expansion in the region. Antonio is also a director at CPG.
“Myanmar is an emerging economy with 53 million people,” he said. “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.” Antonio added his company has agreed to build residential projects in the Okkyin mixed-used development project, which would cost at least $350 million to develop.
Sales revenues from the project is estimated at $1.2 billion, but the figure may increase if the company agrees to build high-rise properties as well, he said.