LISTED infrastructure conglomerate Megawide Construction Corp. remains interested in public-private partnership (PPP) projects for land transport and school buildings, its chairman said.
“It depends on the list of the National Economic and Development Authority (NEDA); they have this PPP framework, and we are just waiting,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra told reporters on the sidelines of a groundbreaking ceremony in Pasig City last week.
In 2023, President Ferdinand R. Marcos, Jr. signed a measure aimed at streamlining the framework for PPPs.
Republic Act No. 11966, or the PPP Code, amended the Build-Operate-Transfer Law to create a unified legal framework for all PPPs at both national and local levels.
Megawide is currently involved in various government infrastructure projects such as portions of the Metro Manila Subway Project and the Malolos-Clark Railway Project.
“Our Malolos project, we are already at 15%. But we cannot go full swing due to right-of-way issues in some areas. We have also started our part in the subway project. But there are some pockets where we cannot start construction also because of right of way problems,” Mr. Saavedra said.
He also said that some Japanese companies have expressed interest in partnering with Megawide’s subsidiary PH1 World Developers, Inc. for real estate projects.
“There are talks with Japanese partners who want to work with PH1 on real estate projects, but we’re still exploring,” he said.
“Some want to partner with us per project, but nothing is final,” he added.
PH1 is the real estate arm of Saavedra-led listed infrastructure conglomerate Megawide Construction Corp. Its projects include Modan Lofts Ortigas Hills condo project in Taytay, My Enso Lofts in Quezon City, The Hive Residences condo in Taytay, and The Northscapes housing development in Bulacan.
For the first quarter, Megawide had P183.4 million in consolidated net income, a reversal of the P7.4-million net loss last year. Consolidated revenue rose by 19% to P5.2 billion.
Megawide shares were last traded on May 31 at P3.12 per share. — Revin Mikhael D. Ochave
