Megawide Construction Corp. is set to put up its second pre-cast facility in Cavite starting this year, which should be operational by next year when the construction of its government’s housing program is expected to be in full swing.
Edgar B. Saavedra, the company’s chairman, president and CEO, said Megawide needed one in the southern part of Metro Manila, which should be in Cavite province as this is the area of its Pambansang Pabahay Para sa Pilipino (4PH) project with the government. “We should need one in the north, in around two to three years,” Saavedra said.
He said its pre-cast expansion in Cavite is still in the works as they still do not have the land to build the facility.
Saavedra said the company needed to expand its current pre-cast facility in Taytay in Rizal as state-owned Pag-IBIG Fund, or Home Development Mutual Fund, is asking Megawide to speed up the delivery of the housing projects as there could be more in the pipeline.
He said its Taytay facility is already running at 80 percent capacity.
Jez G. Dela Cruz, the company’s CFO, said the company may spend some P1.5 billion to P2 billion in the new facility in Cavite, which costs the same as the Taytay facility.
Megawide and Pag-IBIG Fund earlier entered into a partnership for the delivery of more than 7,000 housing units in Dasmarinas, Cavite under the Expanded 4PH over the next two years.
Saavedra said they may turn-over some 1,000 units by September this year as using pre-cast in the construction speed up the building job.
“The creation of the new Expanded 4PH Program will change the perception of how we view our socialized housing… we are implementing world-class prefabricated system, comparable to any of the first-world country, like in Germany or Japan, as you can see on this facility,” he said. “This will give chance for our common Filipino homebuyers to own decent houses that are comparable or even better than any of the top development in the country at an affordable price.”
“In line with our mandate to deliver sustainable financing for socialized housing in our country, we support projects like this, to speed up construction, make construction more efficient and deliver premium and quality housing that is affordable and within reach of our fellow Filipinos,” Pag-IBIG Fund CEO Marilene Acosta said.
Megawide said it plans to build 100,000 housing units in the next five years to help address the housing needs with speed and consistency.
About half of these will be launched in the next three years, Saavedra said.