Megawide Order Book Hits P1.2B In Q1

Megawide Construction Corporation has continued to expand its presence in the horizontal housing and commercial development segments, as it secured P1.24 billion worth of new contracts in the first three months of the year.

This brought the Company’s order book to a healthy level of P66.1 billion as of end-March 2021, amid the lingering pandemic.

Specifically, niche-market property-developer Johndorf Ventures Corporation awarded a Design, Supply, and Build contract, using precast materials, for 350 housing units in its Coral Village Project in Lapu-Lapu City, Cebu.

The deal further solidifies the Company’s precast technology as a convenient, economical, and efficient construction methodology for mass horizontal residential developments as compared to traditional building methods.

Last month, Megawide announced its sixth partnership with Phirst Park Homes for the supply and build of 1,974 units for their Batulao, Batangas site.

The Travellers International Hotel Group, Inc., meanwhile, awarded to the Company the construction of a Retail Strip and Theater Mall at the Westside City complex in Parañaque City, which will complement the ongoing Westside City Resorts World project by Suntrust Home Developers, Inc., which Megawide is likewise currently undertaking.

“Right now, we are ramping up our precast capacity because we believe in its numerous applicability, especially in the residential and infrastructure space. The long-term goal is to transform this support service into a significant contributor to our business, given its various applications and suitability to the current industry demands,” said Edgar Saavedra, Megawide Chairman and CEO.

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