MANILA, Philippines — Megawide Construction Corp.’s real estate arm PH1 World Developers Inc. is supporting the government’s housing program with the development of a mid-rise condominium project in Imus, Cavite.
The project involves the construction of a five-tower, 1,100-unit mid-rise residential community inside a 1.3-hectare property in Imus.
The development, which is expected to offer convenience, accessibility and mobility to its future residents, is under the government’s “Pambansang Pabahay Para sa Pilipino” housing (4PH) program.
Under the contract, PH1 will serve as the project owner and will oversee the entire development process.
Megawide, on the other hand, will undertake the construction as soon as the necessary permits and clearances are secured.
“Public-private sector collaboration of these kinds are very encouraging, especially those focusing on underserved segments, such as housing. We believe that this residential development will benefit both Imuseños in the immediate locality and potential residents from Southern Tagalog and Metro Manila, PH1 general manager for horizontal development Eric Gregor Tan said.
The 4PH program has already been rolled out and implemented in other areas.
The cooperation of the host local government unit, the national government through the Department of Human Settlements and Urban Development (DHSUD) and the private sector developer is critical in replicating the program in more vicinities to help address the 6.5 million nationwide housing backlog.
“The 4PH project of Imus City will significantly contribute to the current administration’s objective of delivering one million housing units annually in support of President Marcos’ goal to provide Filipinos with safe, decent affordable and sustainable housing by 2028,” DHSUD Secretary Jose Rizalino Acuzar said.
PH1, which was acquired by Megawide from Citicore Holdings Investments Inc. for P5.2 billion last year, is focused on the affordable housing segment to address the gaps in the Philippine housing market.