DuraVilla Homes, a leading provider of prefabricated housing units, is poised for expansion into other Caribbean countries following significant interest in its products.
DuraVilla Homes initiated its ambitious 1000 plus Modular Homes Initiative in 2023, aiming to construct hundreds of affordable prefabricated houses for both local and regional housing markets.
These units, designed to withstand category three hurricanes, have already found buyers in local markets as well as in countries like Barbados and St. Vincent and the Grenadines.
CEO Rafeek Khan reveals that there is substantial interest from other Caribbean nations as well.
Trinidad has shown interest in replicating the homes, while Grenada has expressed interest in acquiring up to 2,500 units.
To meet the growing demands, DuraVilla is exploring the formation of a consortium with other companies.
This strategic move aims to ensure a steady supply of prefabricated homes to both domestic and international markets.
While DuraVilla possesses the necessary equipment and skills to meet demand, Khan acknowledges the need for additional capital.
He expresses optimism that other companies will join the consortium to tap into this burgeoning market, which has the potential to become a significant foreign exchange earner for Guyana.
Moreover, Khan highlights the potential for Guyana to earn up to US$60 million annually from the export of timber houses, which would significantly contribute to the growth of the forestry sector.
DuraVilla’s eco-friendly houses are crafted from sustainable tropical hardwoods such as greenheart, purpleheart, mora, and wallaba, reflecting the company’s commitment to environmental sustainability.
In conclusion, DuraVilla Homes’ expansion into the Caribbean market represents a promising opportunity for growth and economic development, not only for the company but also for Guyana as a whole.