Megawide secures P12.8 billion in new contracts for 4PH housing projects

Megawide Construction Corp. has secured P12.8 billion in contracts for two housing projects under the Philippines' 4PH program: Nocal Residences in North Caloocan and Sumi Residences in Imus, Cavite. The projects will deliver a combined 8,300 units, with construction starting before year-end and com

MEGAWIDE Construction Corp. has secured P12.8 billion worth of contracts for two housing projects under the government's Expanded Pambansang Pabahay Para sa Pilipino (4PH) Program. In a statement on Tuesday, the company said the contracts cover the P6.9-billion Nocal Residences in North Caloocan, which will have 3,800 housing units, and the P5.9-billion Sumi Residences in Imus, Cavite, with 4,500 units.

Megawide said construction of both projects is scheduled to start before the end of the year, with completion targeted by December 2028. The latest contracts bring the company's 4PH portfolio to nearly 20,000 housing units at various stages of development.

Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said the company is targeting the construction of 100,000 4PH housing units over the next five to seven years. “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,” he 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,” Mr. Saavedra added. The company, through subsidiary Megawide Dreamrise Residences, Inc. (MDRI), recently completed the structural framework of two towers at JAB Residences in Dasmariñas, Cavite. The topping-off of Towers C and D on Oct. 1 came seven months after the project's concrete pouring ceremony in February.

MDRI is involved in 4PH projects with the Department of Human Settlements and Urban Development and state-run Home Development Mutual Fund, or Pag-IBIG Fund. In August, Megawide also topped off the first tower of the 11-story Avesta Residences, about 10 months after construction started.

The company said the additional contracts are expected to support its target of ending the year with a P60-billion order book. Megawide's order book stood at P47.5 billion at the end of June 2026.