Megawide bags P13B in new gov’t housing contracts in North Caloocan and Imus
Megawide Construction Corp. secured P12.8 billion worth of contracts for two government housing projects in September, bringing the company closer to its P60-billion year-end order book target.
The Edgar Saavedra-led construction and engineering firm said the contracts covered 8,300 housing units under the government’s Expanded Pambansang Pabahay Para sa Pilipino (4PH) Program.
The projects included the P6.9-billion Nocal Residences in North Caloocan, which will have 3,800 units, and the P5.9-billion Sumi Residences in Imus, Cavite, which will have 4,500 units.
Construction of both developments was expected to begin before the end of the year, with completion targeted by December 2028.
The new projects were also expected to bring Megawide’s portfolio of 4PH housing units at various stages of development to nearly 20,000.
Telco giant PLDT Inc. postponed the planned P24.2-billion listing of its data center arm, citing rising interest rates and worsening economic conditions.
VITRO was planning to build a P40-billion data center in General Trias City, Cavite, designed to operate at 100 MW. In a disclosure to the Philippine Stock Exchange (PSE), PLDT said it had suspended its plan to list VITRO Inc. as a real estate investment trust (REIT).
VITRO, PLDT’s data center developer, had planned to file an initial public offering (IPO) this year to raise as much as P24.2 billion. The IPO would have been the country’s first listing of a data center operator. VITRO planned to use the proceeds to develop additional data centers and pay down debt.
PLDT said the IPO had been moved to 2027 as the company waited to see how economic conditions would develop.
PLDT defers VITRO listing
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