Megawide to Invest P3 Billion in Cavite Precast Plant, Doubling Housing Output

MANILA, Philippines — Engineering and infrastructure company Megawide Construction Corp. is investing P3 billion to develop a new precast facility in Cavite that will more than double its production capacity. “For us to be able to increase our capacity, we have to build our precast manufacturing. So the more we can build that, then we can increase our capacity,” Megawide chairman and CEO Edgar Saavedra said. Megawide’s plan to expand its precast production capacity comes amid the company’s keen interest in supporting the government’s Pambansang Pabahay Para sa Pilipino (4PH) program, in which it aims to launch 100,000 units as part of its long-term roadmap. Megawide chief financial officer Jez Dela Cruz said the company could produce 10,000 units per year using its existing factory in Taytay, Rizal. “We are looking to expand to another precast facility in Cavite that can add 15,000 units annual output. So combined, you’re looking at 25,000 housing units that we can produce in our combined Taytay and future Cavite factory,” he said. Dela Cruz said the P3 billion investment for the new precast plant in Cavite would cover land acquisition, as well as equipment and overall capex improvements for the factory. He said the company hopes to start the Cavite factory in the second half of 2027. “We’re expanding our precast facility because the backbone of this 4PH is the precast methodology. Because of that, we can scale up the project while maintaining the consistency and quality,” he said. Megawide employs one of the most advanced precast construction technologies to attain easy standardization, faster construction time and lower cost, while maintaining enhanced design and high-quality finish. In December last year, Megawide entered into an investment and partnership agreement with the Home Development Mutual Fund (HDMF), more popularly known as Pag-IBIG, to accelerate the government’s expanded 4PH program. The agreement involves HDMF’s participation as an investor in the 4PH housing projects through a subscription to perpetual preferred shares issued by Megawide Dreamrise Residences Inc. amounting to P10 billion, payable in three tranches. The funds will be used to deliver at least 7,000 housing units at affordable packages over the next two to three years.