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Award recognizes Prescient’s role as a leading innovator in the building technology industry
DURHAM, N.C., Dec. 07, 2017 (GLOBE NEWSWIRE) -- Prescient, a fully integrated BIM design and building platform that dramatically reduces the time and cost of constructing multi-unit housing using a proprietary modular construction system, today announced that its Chief Executive Officer, Magued Eldaief, has been recognized by Hanley Wood as a HIVE 50 Honoree. Mr. Eldaief was presented with the award at the second annual HIVE Conference in Los Angeles this week. Hanley Wood, the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries, has recognized Prescient’s innovative role in transforming housing in the category of building technology.
Founded in 2016, HIVE is the housing industry’s premier event, bringing together the best and brightest construction and design professionals, academics and thought leaders from an array of industries passionate about design, business strategies and innovation. Hanley Wood states that the HIVE 50 “are drawn from the top people, products and processes that are leading the charge to inspire creativity, higher performance, and innovation in housing.” The categories for 2017 were building technology, capital, design, intel and strategy. To review a full list of the honorees, please click here.
Satyen Patel, Executive Chairman of Prescient, said “This award is a testament to Prescient’s 350 employees who are collectively driving their industry expertise and have shown their commitment over these past five years to Prescient and its mission. Their vision and tireless energy will continue to disrupt this industry for years to come, and I am excited to continue our work alongside Magued and the Prescient team during this exciting journey.”
Magued Eldaief, CEO of Prescient, commented, “At Prescient, we are committed to eliminating the disconnects that have plagued our industry through our integrated business model, which has combined the physical building with its digital thread, and through our Prescient Portal, an open, cloud-based platform for collaboration, project visibility and integration. These symbiotic innovations are critical to collating the digital thread that connects project stakeholders into a single, collaborative network. I look forward to continuing to lead Prescient as it revolutionizes the housing industry.”
Prescient has delivered a compounded annual growth rate of 119% from 2013 through 2017. From 2013 through 2016, the company focused on building multi-unit housing across Colorado, Florida, Nebraska, Missouri and Texas. In 2017, the company has expanded its building footprint into Georgia, Illinois, Kansas, Kentucky, New York, North Carolina, Ohio, and Oklahoma. Prescient built three million square feet of multi-unit housing from 2013 to 2016 and will build two million square feet in 2017 alone.
The company’s current project development pipeline exceeds 10 million square feet, which equals more than $300 million for delivery in 2018 and 2019. Prescient receives requests for proposals of more than 1.5 million square feet per week. As a result, the company recently doubled the size of its Colorado manufacturing facility and brought a second plant online in North Carolina in July 2017.
Digital Thread. The foundation for Prescient’s revolution is a standardized light gauge framing system that utilizes proprietary software applications which create a design and construction platform. Our thread connects projects from the initial architectural design through the finished building. The Prescient Digital thread is based on a model-centric design and planning platform that liberates project stakeholders to plan better and execute better. As a result, a project is no longer a series of isolated steps with familiar breakdowns and gaps. Instead, it becomes an orderly progression through a repeatable flow, connecting developer, designers, suppliers and contractors at every step. This seamless approach means higher productivity, higher quality, fewer last-minute conflicts on site, less waste, shorter schedules, and a better ROI.
Integrated Manufacturing. Prescient uses precision manufacturing technology including robotics, laser cutting systems, and state-of-the-art numerically controlled flexible manufacturing systems to deliver buildings with very tight tolerances, comparable to the automotive industry. Prescient’s digital thread integrates planning & design with manufacturing & installation.
Established in 2012, Prescient is aiming for nothing less than a revolution in the way buildings take shape through new levels of cost efficiency, environmental sustainability, and quality of outcome for all participants. Prescient’s platform ensures buildings perform better, cost less, and take less time to build by employing a digital thread for leading-edge integrated manufacturing.
We are Prescient. And we’re rebuilding construction from the ground up.
HIVE is the premier event that concentrates on every aspect of housing: Innovation, Vision and Economics. Founded in 2016, HIVE brings together the best and brightest construction and design professionals, academics and thought leaders from an array of industries passionate about design, business strategies and innovation to stimulate new ideas and shape the future of how people live, work and play. HIVE 2017 is supported by title and underwriting sponsor, Ply Gem, and founding sponsors Electrolux, Kohler, Louisiana-Pacific and Samsung.
About Hanley Wood
Hanley Wood is the premier company serving the information, media, and marketing needs of the residential, commercial design, and construction industry. Utilizing the largest analytics and editorial-driven construction industry database, the company provides business intelligence and data-driven services. The company produces award-winning media, high-profile executive events, and strategic marketing solutions.