Megawide signs ‘supply and build’ contract for Pampanga housing project – BusinessWorld

MEGAWIDE Construction Corp. said it signed a new contract with PHirst Park Homes, Inc. for a housing project in Magalang, Pampanga.

“The new contract covers the supply and build agreement for 1,079 housing units using precast materials, marking the two companies’ seventh venture together,” Megawide said in a disclosure to the stock exchange on Monday.

In a statement to BusinessWorld, the company said that for the “build” aspect of the agreement, it will only be “putting up the housing unit shells” using the materials.

The client is responsible for the roof and other furnishings, it added.

“For Megawide, this brings the total housing units, including the initial and additional orders, to 12,437 under contract with PHirst Park Homes,” the listed company told the local bourse.

The company sees its partnership with PHirst Park Homes further growing as the latter continues to expand its presence in Luzon.

PHirst Park Homes, a project of Century Properties Group, Inc. and Mitsubishi Corp., launched its eight developments in General Trias, Cavite in July, while three more projects will be rolled out in Luzon this year.

“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,” Megawide noted.

Megawide shares closed 1.48% higher at P6.19 apiece on Monday. — Arjay L. Balinbin