MANILA, Philippines — PH1 World Developers, the real estate arm of Megawide Construction Corp., targets to introduce this year a low-cost mid-rise project to further address the gaps in the Philippine housing market.
“PH1 World is bringing its innovation to the low-cost segment, backed by Megawide’s strong and solid foundation,” PH1 World president Gigi Alcantara said.
She said the project, which is slated for launch this year, will be priced at P2.5 million and below.
“We have to adapt to the market but at the same time we would like to show the Philippines that for this price, you can also achieve good quality product,” Alcantara said.
“We’re going to have an exactly the same feel as what we are having in our existing projects. Probably downgraded by a bit and of course the price will be lower. That’s where our disruption will be, that even at this price point, we can deliver good quality,” she said.
Megawide CEO and chairman Edgar Saavedra identified the Greater Manila area as the potential location for the project.
“Of course we want affordable. We want the fringes like Cavite, Cainta, Taytay and Bulacan because it’s still near to Metro Manila but it’s affordable,” Saavedra said.
“But when you say affordable, it’s not low-cost, low quality because that’s the notion. When you say low-cost, it’s usually dilapidated housing. We want to erase that notion,” he said.
Megawide acquired PH1 World from Citicore Holdings Investments Inc. for P5.2 billion in 2023.
PH1 World recently introduced new vertical and horizontal projects namely, One Lancaster Park in Imus, Cavite; Southscapes Trece Martires, Cavite; and Lykke Kondo in Pasig City.
One Lancaster Park is the company’s flagship residential condominium in Lancaster New City spanning 10 hectares.
It offers units with a free upsize feature, providing up to 17 square meters of additional space at no extra cost.
Southscapes Trece Martires, meanwhile, is PH1 World’s second horizontal development.
Located on a five-hectare lot with a possible expansion, it offers 343 units with prices ranging from P3 million to P10 million and an inventory value of P1.8 billion in total.
Lykke Kondo is a one-hectare development that includes three residential towers atop a podium with 1,736 units located at the Ligaya Intersection in Pasig City.
The project has an estimated P11 billion in revenue for its first phase.
“At PH1 World Developers, we transform spaces into something extraordinary through innovation and technology that ensures highest quality and value for money,” Alcantara said.