PH1 World Developers, the property arm of construction and engineering firm Megawide Construction Corp., could raise up to P30 billion in sales from its latest multi-tower residential development in Pasig City.
PH1 World president Gigi Alcantara said at the sidelines of the groundbreaking ceremony Wednesday phase 1 of the project would involve a three-tower development that could generate between P10 billion and P11 billion in sales.
It will offer roughly 500 to 600 loft-type units per tower with sizes ranging from 20 square meters (sq.m) for a studio unit and 40 sq. m. for one-bedroom unit.
Construction will start in 2026, and turnover by 2030.
Meanwhile, phase 2 will be launched once the third tower of phase 1 is 60 percent to 70-percent sold out, the company said.
“If you combine the two phases, the whole development will be about P25 to P30 billion,” Alcantara said.
The project will be a joint venture between PH1 World and Velfox Manufacturing Corp., which owns the two-hectare property. The project is located just right behind Ayala Feliz Mall and is accessible via Marcos Highway.
Alcantara said the company’s developments in the Greater Manila Area are seen positively “disrupting” the Philippines’ real estate and infrastructure sectors, challenging conventions while setting elevated standards in property development.
Alcantara said unit owners could expect higher quality, consistency and durability since Megawide will be undertaking design and build for the project.
The Pasig project will expand PH1 World pipeline of vertical projects which currently include My Enso Lofts in Timog, Quezon City and Modan Lofts in Taytay.
PH1 World also plans to further expand its pipeline of horizontal projects. It said that in the next two years, it would mainly focus on Luzon expansion, particularly in San Jose del Monte, Bulacan; Trece Martires, Cavite and Batangas.
The property developer is also eyeing potential expansion in the Visayas, specifically Cebu and Iloilo.
