Megawide Construction Corp. expects its order book to rebound up to P60 billion by end-2025 as the company targets new government infrastructure and housing projects, its top executive said Thursday.
Megawide chairman and chief executive Edgar Saavedra said during the company’s annual stockholders meeting that it is set to secure P10 billion worth of projects this month and another P10 billion in the next two months.
Saavedra said while the company’s order book is “a bit low,” he expects this to go up to above P50 billion by year-end.
He also cited Megawide’s participation in the government’s Pambansang Pabahay Para sa Pilipino (4PH) program as a key driver of future growth.
“We think that this project can be viable,” he said.
“We will enter or participate in this project because we see the impact it can generate to the company by giving high order book to the construction and our precast production,” said Saavedra.
The Department of Human Settlements and Urban Development (DHSUD) approached Megawide to support the 4PH initiative, which aims to deliver affordable housing for public sector employees, including teachers, police officers and local government workers.
The company is also set to start construction this year of the P1.87-billion Cavite Bus Rapid Transit system project, a public-private partnership with Cavite province.
Megawide, together with its joint venture partner Maplecrest Group Inc., will develop an efficient and organized bus transport system along a 29-kilometer stretch.
The line is designed to serve about 10,000 passengers and can be expanded to accommodate up to 80,000 passengers daily.
Meanwhile, Megawide shareholders also approved the company’s planned issuance of up to P3 billion worth of preferred shares.
Megawide chief finance officer Jez Dela Cruz said the company plans to issue and list the shares on the Philippine Stock Exchange by the fourth quarter of 2025.
Half of the proceeds will be used to refinance existing obligations, with the remainder allocated to business development and general corporate purposes.
“Covering these plans also includes the 2026 requirements, so Megawide will not be going back to the capital markets next year,” Dela Cruz said.
