Megawide Construction Corporation (PSE: MWIDE) signed another contract with PHirst Park Homes for the latter’s Magalang, Pampanga project, following the recently awarded Batulao, Batangas site.
The new contract covers the supply and build agreement for 1,079 housing units using precast materials, marking the two companies’ seventh venture together.
For Megawide, this brings the total housing units, including the initial and additional orders, to 12,437 under contract with PHirst Park Homes.
“Our seventh partnership with PHirst Park Homes reflects the mutually-beneficial business relationship we continue to harness. PHirst Park Homes is one of the fastest growing affordable housing unit developers in the country and we are honored to be part of its growth,” said Edgar Saavedra, Megawide Chairman and CEO said.
“Not only do we serve middle-income Filipino households, we also showcase that with speed to market and excellent workmanship – qualities espoused by our organizations – we can jointly help address the country’s immense housing backlog and engineer a First-World Philippines,” Saavedra added.
Megawide sees this partnership further growing as PHirst Park Homes continues to expand its presence across Luzon, including new communities in northern and southern Luzon.
“We greatly value recurring partnerships such as PHirst Park Homes’. Our business relationship continues to grow as clients further see our capabilities – we work well with them, we give them excellent products, and we have the capacity to deliver client expectations on time and with value,” Markus Hennig, Megawide Executive Vice President, said.
Currently, the two companies are working together to build communities in seven different locations – Lipa and Batulao, Batangas; Calamba and San Pablo, Laguna; Tanza, Cavite; Pandi, Bulacan; and Magalang, Pampanga.
“These partnerships are in line with our thrust to further expand our business units such as precast, and take advantage of the technological advantages that they offer, especially the speed of construction and quality of building products to meet the challenges of the pandemic,” Hennig continued.
Megawide currently operates one of the largest and most advanced precast facilities in Southeast Asia. It also integrates mobile precast and batching plant facilities in its large-scale construction sites to ensure production efficiency, and speed in delivering materials and products.