Capital Bay announced on Wednesday that it is expanding its strategic partnership with Daiwa House Modular Europe, the industrial modular construction firm, to start manufacturing prefabricated building modules.
‘Given the shortage of skilled labour, tightening sustainability requirements and the steadily increasing construction costs, the building sector urgently needs innovative approaches,’ said Harry van Zandwijk, the CEO of Daiwa House Modular Europe.
‘I’m convinced that the future of construction is in digitised modular construction on an industrial scale. With this in mind, I’m proud to say that we will now intensify the trust-based collaboration with Capital Bay within the framework of our joint venture. We are currently looking for a suitable location in order to get our production started as soon as possible. In fact, we already have our eyes set on one specific manufacturing site and are confident that we will be able to start producing our first modules there in 2023.’
The prefabricated building modules will be used in the property developments for the operator brands of Capital Bay’s exclusive collaboration partner, 360 Operator, but will also be offered to third-party customers in Europe.
‘Our modules lend themselves both, to residential formats of every kind, and to the construction of micro-apartments and senior living projects, including student apartments and serviced apartments as well as care facilities,’ added George Salden, the CEO of Capital Bay. ‘But there is also significant demand in the healthcare industry. The advantage of modular construction lies on the one hand, in the possibility of serial production and, on the other hand, its circularity. The automated and digitised production permits economies of scale, saving time and money in the process. In addition, it creates the possibility of intense quality control as early as the standards-based manufacturing processes. This and the fact that prefabricated modules only need to be assembled at the construction site make it possible to cut the time to completion by up to 50 percent.’
Daiwa House Modular Europe was created by the acquisition of Jan Snel by Daiwa House in 2021 and has already completed numerous residential projects in the Netherlands.
The first joint projects with Capital Bay in Germany are a care home accommodating 99 residents plus eleven residential places of an extra care housing format in the state of Baden-Württemberg. The properties will be operated by Curata Care Holding, one of over ten operator brands owned by 360 Operator.