Megawide bets on affordable homes for growth

Megawide Construction Corp. is turning to affordable housing to drive its next phase of growth, targeting more than 25,000 homes by 2028 as it expands its participation in the government’s Expanded Pambansang Pabahay para sa Pilipino (4PH) Program.

The construction group and its property arm, PH1 World Developers Inc., are banking on demand for lower-priced homes, which company chairman and chief executive officer Edgar B. Saavedra said remain undersupplied even as the market faces excess inventory of residential units priced at P5 million and above.

Megawide aims to deliver 5,000 to 7,000 affordable housing units over the next year before scaling up to annual production of 10,000 to 20,000 units. Its primary focus is on homes priced at P2 million to P3 million and below, particularly in areas near Metro Manila employment centers.

Priority areas

The company is prioritizing developments in Taytay, Rizal, Cavite and San Jose del Monte, Bulacan, to help residents access jobs without the lengthy commutes associated with housing projects farther from urban centers.

Pag-IBIG Fund has committed P10 billion to support the development of more than 7,000 housing units under the program. PH1 also plans to eventually deliver 100,000 homes through the Expanded 4PH initiative.

Megawide is using precast concrete technology and its integrated engineering, procurement and construction platform to accelerate project completion. Its JAB Residences project in Cavite topped off two towers on 1 October, seven months after the first concrete pour, while Avesta Residences reached the same milestone in August, 10 months after construction began.

At the National Housing Expo on 19 and 20 October, Megawide showcased a 27-square-meter model housing unit to demonstrate its approach to affordable residential development.

Public-private sector collaboration

“We look forward to this kind of collaboration between the private and public sector… to make home ownership very accessible to many of our deserving countrymen,” Saavedra said.

The company’s housing expansion comes as weaker investor appetite for public-private partnership infrastructure projects, amid corruption concerns, court challenges and slow execution, adds uncertainty to its broader business outlook.