Maybe there is, and that might help with the water issues once it reaches the ground, but the path it appears to be taking to get there is what would concern me. Maybe I'm totally off base here and I'd be interested in seeing what else they have done. Perhaps there's some hidden drainage system in the siding or roof, but all I see on the left sides of these home is the short, egg rock border which looks to have a corrugated plastic drain to the curb.
They appear to have tried to mitigate the issue by adding foam sheathing on the outside, and I can see large vertical furring strips that are likely behind the steel paneling. Both are great, but instead of basically designing the exterior wall to carry the water it seems like adding a short overhang or gutters to keep that water away would have been far more important than that little touch of modern style they gained by leaving them out.
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