Megawide Construction Corp. said Wednesday it secured two new multi-billion-peso contracts from property developer Megaworld Corp., moving the construction firm closer to its target of a P50-billion order book by year-end.
The contracts involve the construction of two residential towers, Uptown Modern in Uptown Bonifacio and One Portwood in Newport City, Megawide said in a disclosure to the stock exchange.
The projects will include civil, structural, architectural and MEPF (mechanical, electrical, plumbing and fire protection) components.
Megawide president and chief executive Edgar Saavedra said the company was “very excited to again work with Megaworld, who has been our long-standing client.”
“Our strategic partnership with Megawide has been built on a foundation of trust, and we applaud the consistent excellence they bring to every project,” said Megaworld head of operations Jennifer Romualdez.
Uptown Modern is positioned as a premium residential development in Bonifacio Global City. One Portwood, located across from the Ninoy Aquino International Airport (NAIA) Terminal, features world-class amenities.
Megawide said it would use its first-world engineering and construction methods, including pre-cast technology and integrated construction solutions, which it has previously used on other Megaworld projects such as The Worldwide Plaza, Albany Luxury Suites, Newport Link, International Finance Tower and Gentry Manor.
The new projects are part of P20 billion in additional contracts Megawide is finalizing, which also include deals with Trans Aire Development Holdings Corp. (a subsidiary of San Miguel Corp., DoubleDragon, 8990 Holdings, Landers and Citicore Power Inc.
