Antonio-led firm expands footprint in Ecuador

ANTONIO-LED Revolution Precrafted Inc. said it bagged a franchising agreement with Ecuadorian firm Innovation Llc., for the supply of mid-priced residential units in the Latin American nation, further boosting the company’s reach, as it enters the South and Central American markets.

“This franchise agreement with Innovation Llc. is a strategic move for the company. It allows us to tap into the huge South and Central American land bank. This supports our goal of extending our reach to at least 20 to 25 markets this year,” said Jose Roberto R. Antonio, founder and CEO of Revolution Precrafted.

Antonio is a son of former US Ambassador Jose E.B. Antonio and is currently a managing director at listed firm Century Properties Group Inc.

Ecuador is the 11th market for the firm outside of the Philippines.

Advertisement

Under the deal, Revolution Precrafted will supply midrange- to luxury residential homes and villas to Ecuador, through Innovation. The Ecuadorian firm is finalizing agreements with large real-estate developers in Quito, the country’s capital, and surrounding cities. The development deals will be announced in the next few weeks, the company said.

Ecuador is surrounded by Colombia and Peru. It has a population of 16.5 million. The demand for housing in the country continues to rise as it experiences rapid modernization and economic development

The housing stock also needs to be replenished following the damage of the 7.6-magnitude earthquake that hit the country in 2016.

Data from Ecuadorian real-estate groups showed there is a huge demand in the mid-market segment with housing prices of $70,000 to $150,000 with an average house area of 117 square meters. “We want to support the economic development of Ecuador by providing design-driven residential units for the middle-class residents and migrating expat community,” Antonio said.

The two companies said they are also looking for possible developments in Guayaquil, one of the biggest cities in Ecuador.

Turning Points 2018
Suntrust banner2