GSIS Boosts Stake in Megawide, Signaling Support for Nation-Building Projects

MANILA, Philippines — The Government Service Insurance System (GSIS) has increased its stake in Megawide Construction Corp., solidifying its position as one of the major local institutional investors in the listed engineering and infrastructure company. Over the past 60 days, GSIS acquired a total of 111.94 million shares of Megawide through a series of block transactions, bringing its ownership to 9.5 percent, representing 191.71 million common shares. Megawide stated that this move signifies GSIS’ support for the company’s nation-building initiatives and its future prospects. "The investment of GSIS reflects another vote of confidence in our vision of engineering a first-world Philippines, particularly through our participation in various government-initiated campaigns and public-private partnerships that aim to address critical social and transport infrastructure in the country," said Megawide chairman and CEO Edgar Saavedra. This includes the company’s involvement in constructing socialized housing units under the expanded 4PH program, utilizing mechanized and modernized techniques anchored on its precast system. In September last year, the state-owned Pag-IBIG Fund, with endorsement from the Department of Socialized Housing and Urban Development, partnered with Megawide for the construction of over 7,000 socialized housing units under the government’s expanded 4PH program. Beyond socialized housing, Saavedra highlighted Megawide’s ongoing development of transport-centric projects aimed at modernizing the country’s public transport systems. These include the Baguio City Integrated Terminal, the South Luzon Integrated Terminal Exchange, and the Cavite Bus Rapid Transit System. "The GSIS investment signifies government support anew for Megawide and serves as an additional confidence-builder and extra seal of approval for the company’s nation-building initiatives and value-creation objectives," the company stated. Megawide anticipates continued profit growth this year and through 2027, driven by its robust project pipeline. The company projects its net income to reach approximately P1.2 billion in 2026 and between P1.8 billion to P2 billion in 2027. In 2025, Megawide recorded a 24 percent increase in net income to P669 million, with construction remaining its largest revenue driver, followed by property development under PH1 World Developers. The company also began 2024 strongly, posting a 26 percent year-on-year jump in net income to P265 million in the first quarter, primarily due to its robust construction business.