A surge of construction and opportunity is on the horizon as Megawide Construction Corp. prepares to dramatically expand its precast facilities. This expansion directly supports the ambitious Pambansang Pabahay para sa Pilipino (4PH) Program, a national initiative designed to address the country’s housing needs.
The company’s President and CEO, Edgar Saavedra, spoke with palpable enthusiasm about the program’s potential. He highlighted the significant economic benefits and, crucially, the creation of much-needed jobs for Filipino workers.
The existing Megawide Precast facility in Taytay already provides employment for approximately 5,000 individuals – 1,500 directly and 3,500 indirectly. Driven by the 4PH program, Megawide is poised to build a larger, more advanced facility to fulfill its commitment to deliver 100,000 housing units within five years.
A substantial investment of P10 billion from the Home Development Mutual Fund (HDMF or Pag-IBIG Fund) is fueling this expansion. This investment, made through Megawide Dreamrise Residences, Inc., will be deployed in phases to accelerate the development of affordable housing projects.
The initial impact of this partnership is projected to yield at least 7,000 affordable housing units over the next two to three years, offering tangible solutions to the country’s housing challenges.
Currently, the company is actively searching for a location for its second precast plant, with a strong preference for an area in Cavite. This strategic location will allow for efficient distribution to the growing demand for housing in both the southern and northern regions of the country.
Construction of the new facility is slated to begin this year, with a target operational date of next year, contingent upon successful land acquisition. This aggressive timeline underscores Megawide’s commitment to rapidly scaling up production.
Megawide’s long-term vision encompasses the launch of 100,000 housing units, with the first 50,000 planned for development within the next five years. Initial projects are concentrated across five sites in Cavite – Imus, Dasmariñas, and Bacoor.
President Ferdinand R. Marcos, Jr. recently toured the Megawide Precast Plant, personally inspecting the innovative construction systems that will be utilized in the nationwide 4PH projects. He also participated in the ceremonial turnover of housing assistance to program beneficiaries.
The announcement of this expansion and the government’s support resonated positively in the market, with Megawide shares experiencing a modest increase in value.
