Revolution Precrafted’s founder and CEO Robbie Antonio and Bakrie Global Ventura CEO Anindya Novyan Bakrie recently signed a US$1.1 billion joint venture agreement last April 28 at the Conrad Hotel in Manila.
The partnership between the Philippines’ most valued startup and one of Indonesia’s most innovative conglomerates is setting the stage for future collaborations within the ASEAN countries.
Revolution Precrafted Properties Limited, a real estate technology startup, delivers high-design structures such as modular homes, prefabricated structures and buildings, as well as pop-up retail and fitness centers designed by 53 of the world’s best designers, brands and Pritzker-prize architects. The company, which recently raised seed funding from the world’s most prolific venture capital firm 500 Startups at $256 million valuation, combines world-renowned designers and the latest advances in construction technology to deliver designer, custom homes.
Apart from developing five mega studios and five hectares of office spaces and storage facilities of Bakrie Global Mediapolis studio project in Jakarta, Revolution will also supply designer homes, hotel villas, and amenity spaces to Bakrie Global’s property affiliates in Indonesia. This includes 3,000 hectares of land, owned and developed by the Bakrie Group, totaling US$1.1 billion.
Bakrie Global Ventura, a subsidiary of Bakrie Group, functions as a professional equity arm and as a bridge to the international economy. Their main goal is to unlock hidden value by capitalizing its expertise and experience for investment partnerships as well as advancing social impact to the nation.
For this purpose, they sought out potential regional partners who can drive growth through technology, real estate, and media.
“Bakrie Group was the first conglomerate to list on Indonesia’s stock exchange back in 1989. Over three generations, we have served as the pacesetter for other Indonesian firms and as a proxy of the Indonesian economy, we intend to utilize our decades of incredible growth to work with strategic partners in the region who have the same sense of energy, direction and operational excellence, Revolution Precrafted is without doubt such a partner,” said Anindya Bakrie.
Antonio stated his reasons for starting talks with the Bakrie family: “We would like to supply designer structures to a global audience, and so we partner with land owners, property developers, and even hotel operators to deliver a unique selling proposition to their businesses. We help our partners differentiate their development by providing high-design structures at five times the speed and sometimes at half the cost. In real estate, speed to market has always been the name of the game.”