Megawide Diversifies Into Property Dev’t

Infra innovator Megawide Construction Corporation has acquired housing industry disruptor PH1 World Developers, Inc. with the acquisition formalized during its Annual Stockholders Meeting held virtually last July 12.

Photo Insert: Executives of. Megawide and PH1 World Developers signed a memorandum on the 22nd of October last year.

Megawide Chairman and CEO Edgar Saavedra said the acquisition is a “natural progression “ for the company as it diversifies its business reach into higher income streams, especially with the disruptive business model that the property firm has introduced in the housing market.

PH1 World Developers has introduced the inclusion of a loft to its condo offering sans the additional costs attached to it.

The affordable prices had been well received by first-time home buyers who saw the potential for having larger condo sizes with the lofts included in their condo units.

With a backlog of about 6 million units, the housing development has seen fresh take-ups in their disruptive initial foray dubbed My Enso Lofts in Timog, Quezon City. PH1 is also coming up with its Modan Lofts project in Taytay, Rizal where it entered the housing market with its Hive Residences.

Saavedra sees the acquisition to have synergy, especially with Megawide’s engineering excellence and innovation DNA. The company has over 25 years of experience as one of the country’s leading private sector contractors.

The infra innovator is also a partner of the Philippine government in flagship infrastructure projects such as the development of the award-winning Mactan-Cebu International Airport and Paranaque Integrated Terminal Exchange, as well as the design and construction of Clark International Airport’s new passenger terminal.

It is currently undertaking the construction of Malolos-Clark Railway Package 1 and Metro Manila Subway Contract Package 104.

“We are very excited to officially be part of Megawide and believe that this is a strategic move for us, especially in terms of unlocking more possibilities – in the areas of design, engineering, and technological advances – that will further strengthen our offerings in the vertical and horizontal residential segments,” said Gigi G. Alcantara, PH1WD President.

Alcantara also cited the culture of innovation present in both companies.

“Innovation unites our companies and that makes this transaction a perfect match. PH1WD’s disruptive mindset, coupled with Megawide’s innovative solutions approach to its developments, is expected to challenge existing norms and raise standards in the highly competitive local property scene,” she continued.

PH1WD will soon launch its development in Bulacan through Northscapes San Jose Del Monte – unveiling innovations that go beyond the traditional house and lot offerings.

Northscapes SJDM will be the first horizontal project in PH1WD’s expanded portfolio that will highlight energy efficient solutions as a key differentiator to disrupt the real estate scene.

“The plans include various technologies such as solar panels, tinted windows, insulated walls, E-shuttle, and solar-powered streetlights that will be incorporated in the units and the entire development to provide residents a more convenient, sustainable, and green lifestyle – with no extra cost,” Alcantara explained.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic