Megawide Construction Corp. is bullish about its newly-formed property business, as it expects to generate at least P20 billion in revenues from six upcoming projects.
Megawide chairman Edgar Saavedra said in an interview at the sidelines of the launch of PH1 World Developers Inc.’s new projects the residential business has the potential to become the biggest contributor to the company’s bottomline.
“By 2025 to 2026, PH1 World will be bigger than Megawide Construction in terms of bottomline,” Saavedra said.
PH1 World has three new projects, with three others in the pipeline which would generate more than P20 billion in sales.
Saavedra said PH1 World would spend roughly P20 billion in capital expenditures in the first three projects, including two newly-launched project—Northscapes San Jose Del Monte in Bulacan and Modan Lofts Ortigas Hills in Taytay City.
Northscapes is a 337 house-and-lot development with an estimated sales value of P1.9 billion. All two-story units will have three bedrooms each and are priced from P3 million to P8 million.
“Landscapes SJDM is our foray into horizontal development. We want to show that a sustainable, green lifestyle is accessible to every Filipino at any market segment. Not only that, through Megawide’s engineering technologies such as precast, we can ensure higher quality, consistency and durability in terms of construction,” PH1WD Landscapes general manager Eric Gregor Tan said.
Northscapes will be an energy-efficient community with PH1’s exclusive green home technologies. All units in Northscapes will be equipped with 2.25-kW solar panels.
PH1 World is also looking to develop horizontal projects in Trece Martires, Cavite and Cebu. It launched vertical projects in Taytay, Rizal.
Modan Lofts Ortigas Hills will offer 986 residential units in a lot area of around 16,500 sq. m. Unit sizes range from studio to one and two bedrooms, with prices at P5 million to P10 million.
The project offers residents additional space through Megawide’s AddLoft Technology.
“AddLoft increases the total volume of livable space by up to 38 percent through a specific loft structure that maximizes the high ceilings of each unit,” said PH1 World assistant vice president for project development Spike Ching.
“It offers residents the freedom to customize their living spaces and maximize functionality in each unit based on their needs and lifestyle,” Ching said.
PH1 World’s next vertical development will be in Pasig City.