PH1 sales more than double as housing demand holds



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PH1 World Developers Inc., the property arm of Megawide Construction Corp., more than doubled its booked sales in the first half of the year as demand for its residential projects remained resilient outside major business districts.
Megawide said in a Monday disclosure that PH1 booked P3.15 billion in sales from January to June, up 128 percent from P1.38 billion in the same period last year.
One Lancaster Park, My Enso Lofts, and Lykke were the biggest contributors, accounting for more than 63 percent of total sales during the period.
The strong first-half performance also brought PH1’s unbooked revenues to P11 billion as of end-June.
“The strong take-up of our recently launched projects reinforces our view that end-user demand outside key business centers remains buoyant and resilient.
As we roll out our expanded 4PH pipeline – starting with our maiden offering Avesta Residences in Imus, Cavite – we are confident of sustaining an even stronger performance over the long-term,” PH1 President Gigi Alcantara said.
To support its growth over the next few years, PH1 said it will bank on its pipeline under the government’s expanded Pambansang Pabahay Para sa Pilipino, or 4PH.
The developer recently topped off Tower 1 of Avesta Residences, its five-tower development in Imus, Cavite. The tower is scheduled for completion by October, about 12 months after construction began.
PH1 plans to launch more expanded 4PH projects this year in Caloocan and Cavite, including Imus and Dasmariñas, as part of its initial portfolio of 25,000 housing units across Luzon targeted for delivery over the next two to three years.