Its board approved the reallocation of P1.23 billion in remaining proceeds from fixed-rate bonds issued in 2022, redirecting funds from transport-oriented developments to housing projects ready to move forward, a stock exchange filing on Friday showed.
The decision allows Megawide to match its capital with a fast-growing pipeline backed by the government’s nationwide housing program.
Housing gains momentum
The Expanded Pambansang Pabahay para sa Pilipino, or 4PH, program taps private developers and contractors to build affordable homes at scale.
Megawide strengthened its position in the program in September with P12.8 billion in new contracts covering 8,300 homes in North Caloocan and Imus, Cavite.
Construction on both developments is expected to begin before year-end and finish by December 2028, giving the reallocated funds a clear path into active projects.
The awards expand Megawide’s 4PH portfolio to nearly 20,000 units and move the company closer to its longer-term goal of building 100,000 homes within five to seven years.
Housing is now helping broaden Megawide’s growth base and supporting its push to raise its order book from P47.5 billion at the end of June to P60 billion by year-end.
—Edited by Miguel R. Camus
