PH1 World Developers (PH1WD), the property development company of Megawide Construction Corp., said Tuesday it obtained a P500-million loan from Bank of the Philippine Islands (BPI).
PH1WD said in a statement it would use the loan to develop its house-and-lot project called Northscapes in San Jose Del Monte City, Bulacan.
“We thank BPI for their vote of confidence in both PH1WD and Megawide, through Northscapes, and our goal to bring energy-efficient communities to emerging locations such as San Jose Del Monte,” said PH1WD president Gigi Alcantara.
The property firm said the funding will expedite PH1WD’s value creation drive, projected to be a major growth source of growth of Megawide in the next two years.
“Our commitment to buyers is to build homes with superior quality and offer an excellent community experience, expected from PH1WD—the real estate arm of the country’s most innovative engineering company Megawide. This partnership with BPI will ensure that we will deliver on our promise and is a testament to the collaborative mindset of both our organizations to promote accessible green and modern living,” said PH1WD general manager for horizontal developments Eric Gregor Tan.
BPI said the funding is aligned with the bank’s vision to support sustainable housing projects in the country.
“We look forward to more collaboration with PH1WD to further advance our shared goal of creating positive change and developing sustainable communities,” said BPI head of commercial banking relationship management group Luis Cruz.
Northscapes is a 4,6-hectare residential development that will feature 338 energy-efficient housing units. This is PW1WD’s first residential project in Central Luzon.
Townhouses at Northscapes range from 53 square meters to 70 sq. m., while single-attached house models can have up to 95 sq. m.
Each house in Northscapes is designed with environment-friendly living in mind, featuring SolarSave solar panels, ResiShade tinted windows and TropiCool insulated walls. These features reduce the energy needed to cool home, significantly cutting down electricity costs.
“We make sure that our Enviro-Smart features and green community living are accessible to starter and growing families, whether their preference is a townhouse or a single attached model,” said Tan.
