Ed Saavedra’s Megawide clinches P1.2B new contracts in Q1

Construction, engineering and infrastructure group Megawide Corp. has bagged P1.24 billion in new contracts in the first quarter, further boosting its order book to P66.1 billion.

The new contracts will allow Megawide to bolster its presence in the horizontal housing and commercial development segments.

These include supply of precast materials and construction of 350 housing units in JohndorfVentures Corp.’s Coral Village project in Lapu-Lapu City in Cebu, the development of 1,974 units for Phirst Park Homes project in Batulao, Batangas as well as for a retail step and theatre mall at the Westside Cty complex in Paranaque City which is being developed by Suntrust Home Developers Inc.

“Right now, we are ramping up our precast capacity because we believe in its numerous applicability, especially in the residential and infrastructure space. The long-term goal is to transform this support service into a significant contributor to our business, given its various applications and suitability to the current industry demands,” said Edgar Saavedra, Megawide chairman and CEO.

Saavedra said Megawide is also banking on the emerging opportunities in the horizontal infrastructure space , particularly rail networks, including the Metro Manila Subway and the North-South Commuter Railway South Line.

Megawide is currently undertaking the construction of the Malolos-Clark Railway Project Package 1.

The company is the developer of the Mactan-Cebu International Airport, the Paranaque Integrated Terminal Exchange and the Clark Intenational Airport New Passenger Terminal Building.

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