MEGAWIDE Construction Corp. secured P12.8 billion worth of new contracts in September for two housing developments under the government’s Expanded Pambansang Pabahay Para sa Pilipino (4PH) Program, bringing its 4PH portfolio to nearly 20,000 units.
“Based on our long-term growth plan, which includes building 100,000 4PH housing units over the next five to seven years, three critical milestones will mark our progress: contract award, topping-off, and, ultimately, the turnover of units to beneficiaries,” Megawide Chairman and CEO Edgar Saavedra said.
“We have already achieved the first two milestones for our initial projects, Avesta and JAB Residences, and we are confident in our ability to deliver on our commitments to the government, the Filipino people, and our shareholders,” he added.
The new contracts cover the P6.9-billion 4PH Nocal Residences in North Caloocan, which will have 3,800 units, and the P5.9-billion 4PH Sumi Residences in Imus, Cavite, with 4,500 units.
Construction of both projects is expected to begin before the end of this year, with completion targeted for December 2028.
The latest contract awards will help keep Megawide on track to reach its P60-billion year-end order book target from P47.5 billion as of end-June 2026.
The company is also pursuing a long-term plan to build 100,000 4PH housing units over the next five to seven years.
Megawide recently topped off Towers C and D of the five-storey JAB Residences, less than seven months after concrete pouring began in February 2026.
In August, the company also topped off the first tower of the 11-storey Avesta Residences, 10 months after construction began.
Megawide’s share price fell by 3 centavos to close at P5.24 apiece on Tuesday.
