PH1 World Developers has completed the structural framework of the first residential tower of Avesta Residences in Imus City, Cavite, marking a construction milestone for a project under the government's expanded Pambansang Pabahay Para sa Pilipino (4PH) housing program.
The topping-off ceremony, held on Tuesday, signified the completion of Tower 1's structural works less than 10 months after construction began, PH1 said.
"For both PH1 World Developers and Megawide Construction, the topping off after less than ten months from the start of construction conveys a clear message — we can deliver using our engineering expertise and precast technology," Megawide Construction Chairman and CEO Edgar Saavedra said.
Avesta Residences is PH1 World Developers' first project under the expanded 4PH Program, a national housing initiative that seeks to address the country's housing backlog through partnerships between the government and the private sector.
Following the launch of Avesta Residences, PH1 World Developers expanded its participation in the government's housing program through projects in Dasmariñas and Bacoor in Cavite, as well as Caloocan, to help increase the supply of affordable housing.
PH1 World Developers is the real estate arm of Megawide Construction Corp., developing residential communities through a mix of vertical and horizontal housing projects.
Megawide shares rose by 0.47 percent, or two centavos, to P4.24 apiece on Wednesday.
