Megawide bags P14-b contract from 8990
Megawide Construction Corp. said it bagged a P14-billion construction contract from mass housing developer 8990 Holdings Inc.
Megawide said in a statement the project would involve the construction of 24 residential buildings with 18,993 units and a mall within 8990 Holding’s 13-hectare township development in Pasig City.
Megawide said the project called Urban Deca Homes Ortigas would become its largest contract for a single private sector engineering and procurement contract project to date.
“We’re very excited to once again be working with 8990. They have created a singular niche in the property sector through mass housing. Through this project, we are able to provide quality engineering and construction at an affordable price,” said Megawide president Edgar Saavedra.
Megawide said its design proposal would maximize the use of its proprietary construction technologies by using precast for segments that were normally built through conventional methods.
“Our Filipino team is now working with Japanese and German technical engineers to create a structurally resilient design. We will be maximizing the use of structural precast elements such as bearing and shear walls and slabs. This will be complementary to our use of precast architectural components such as façade walls, unit partition walls, and stairs among others,” Saavedra said.
Saavedra said precast was highly advantageous for both design and construction.
“These precast elements are manufactured in a controlled environment that assures quality. It’s easily workable onsite and lessens the construction period because everything is assembled at the factory. We can ensure high quality and value for money for our clients,” he said.
Megawide said its order book backlog stood at P33.7 billion as of end-June 2017, providing earnings visibility for the next two years.
Its construction contracts include the Edades Suites of Rockwell Land Corp., BGC 5th Avenue Apartments of Fort Bonifacio Development Corp. and the Delta Project and Next Gen Zen 3 Zenith Foods Corp. plant expansion.
Megawide has been 8990 Holdings’ contractor for various residential projects including the Urban Deca Homes in Tondo Manila, Urban Deca Homes Mandaluyong along Edsa and Urban Deca Towers-Cubao.