How would thia create millions of jobs and lift conatruction industry when you sont nwws labours and cement, Iron to build it.?
It is always a hard choice but I'll always go for new materials and technology. Labor adopts to new job skills if enough money is being pour in an industry.
Home/construction industry is huge and multiplier -- Even in west, where there is much fabrication and mechanization, home construction industry generates large number of jobs to pull up economy from the bottom. Besides generating direct/indirect construction/home related job, home market generates many permanent service related jobs like in malls health, education etc.
IMO new and processed prefabricated material construction should be adopted as much possible and as much it can use locally available materials.
However steel+board structure like in this model house is not so desirable and feasible on large scale- not because of labor but due to materials, availability, adaptability and some construction related reasons.