EMBATTLED startup Revolution Precrafted Philippines, Inc. said it is planning to focus its business pivot to selling designs from offering property developers prefabricated designer homes, following issues with partners.
“How we pivot now involves leveraging on our IP or intellectual property, the compelling designs that are really at the heart of our enterprise, and licensing them to any developer or end user who would like the designs for their own homes or projects using their own contractors,” Jose Roberto “Robbie” R. Antonio, founder and chief executive officer of Revolution Precrafted, said in a statement on Wednesday.
Several of Revolution Precrafted’s suppliers and contractors filed complaints with the National Bureau of Investigation earlier this year after finding issues in project contracts.
“Majority have since been put to rest and we are fulfilling our obligations to clients and suppliers where these contracts are deemed due or expired indeed,” said Mr. Antonio, who had to resign from his position as co-managing director and member of the board of directors of Century Properties Group, Inc. to resolve these issues.
The company earlier said that the coronavirus disease 2019 (COVID-19) pandemic activated force majeure stipulations in business dealings. These clauses free parties from liability should unforeseen events occur, which would make them unable to fulfill responsibilities as stated in the contract.
BusinessWorld asked how much the company has settled so far but was told that figures are not available yet.
“All settlements for all obligations are ongoing and on various fronts — both suppliers and buyers at different projects,” Revolution Precrafted said.
The company, along with partner property developers, has advised homebuyers to contact developers regarding concerns. Christina Adrales, a buyer in the Puerto Azul project of the company, said she was able to settle things with Revolution Precrafted quickly and amicably.
Revolution Precrafted will now be focusing on the business of selling designs instead of being involved in the process of construction.
“Revolution Precrafted is an asset-light intellectual property-based company founded on the idea of making world-class designer houses accessible, practical, fast, and affordable especially for a rapidly expanding middle class,” Mr. Antonio said.
“The vision to utilize IP and technology for the future remains the same,” he added. — Keren Concepcion G. Valmonte