Megawide Construction Corp’s real estate arm PH1 World Developers (PH1WD) has teamed up with the local government of Imus City, Cavite to build an affordable mid-rise housing development in Cavite worth a little over P2 billion.
The project involves the construction of a five-tower, 1,100-unit mid-rise residential community inside a 1.3-hectare property in Barangay Malagasang 1-G.
Each unit, spanning 27 square meters, will cost P1.7 million to a little more than P2 million. The project will have amenities such as a clubhouse and a basketball court.
Located at the heart of one of Cavite’s sprawling districts, the future development is expected to offer convenience, accessibility and mobility.
“Public-private sector collaboration of these kinds are very encouraging, especially those focusing on underserved segments, such as housing. We believe that this residential development will benefit both Imuseños in the immediate locality and potential residents from Southern Tagalog and Metro Manila,” said PH1 World Developers (PH1WD) general manager for horizontal development Eric Gregor Tan.
4PH housing program
The project in Imus City, Cavite is under the government’s “Pambansang Pabahay Para sa Pilipino Housing (4PH)” program.
Based on the partnership, PH1WD will be the project owner and oversee the entire development process, while engineering and infrastructure company Megawide will undertake the construction as soon as the necessary permits and clearances are secured.
Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development (DHSUD) said during the ground-breaking ceremony the project will significantly contribute to the Marcos administration’s objective of delivering one million housing units annually until 2028.
Imus City Mayor Alex Advincula for his part believes that this project is a success of his administration’s commitment to bring forth better quality of life in the City of Imus.
“This is the fulfillment we’ve been wanting for our disadvantaged countrymen. We made a promise that they would have a dignified, orderly, and safe home in a peaceful community. For that, I am delighted we have partnered with Megawide’s PH1WD to bring their quality of development to this 4PH project with the guidance of DHSUD. This also demonstrates a seal of approval to our city’s ongoing progress and future prospects,” he said.
The 4PH has already been rolled out and implemented in other areas and cooperation among the major stakeholders – the host LGU, the national government through the DHSUD and the private sector developer – will be critical in replicating this model in more vicinities and key to addressing the 6.5-million nationwide housing backlog.
Partnership with LGUs
Megawide chairman, president and chief executive Edgar Saavedra said the group is open to more similar partnerships with local government units to help the government with its housing programs.
Saavedra said that Megawide has been a consistent partner of the Philippines government in infrastructure projects such as the 10,000 public classroom units under the Public-School Infrastructure Project, the Parañaque Integrated Terminal Exchange, Mactan-Cebu International Airport and the construction of Clark International Airport, to name a few.
Saavedra said the huge 6.5-million-unit backlog in residential development in the country is primarily in the affordable segment of the market.
He said the project would primarily cater to teachers, policemen and government employees and they can finance their housing purchases thru Pag-IBIG Fund.
“If this project succeeds, we can scale this up,” Saavedra said.
PH1WD is a real estate company that aims to disrupt property development conventions through innovation and engineering technology. It currently has projects in the vertical and horizontal segments. Its first project was The Hive Residences in Taytay, Rizal.
