Megawide starts residential project in Imus

Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar joined Megawide Construction Corporation CEO Edgar Saavedra at the groundbreaking ceremony for a housing project under the “Pambansang Pabahay para sa Pilipino Program” on May 28, 2024.

Megawide Construction Corp’s real estate arm PH1 World Developers (PH1WD) teamed up with the city government of Imus, Cavite to build the mid-rise housing development 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.

The project in Imus 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 Acuzar 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 said the project is a part 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.

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 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.