Together with investment firm Maplecrest Group, Saavedra’s Megawide Construction Corp. received the notice of award for the P1.87-billion Cavite BRT.
What is the Cavite BRT?
A BRT is a public transport system featuring dedicated lanes, modern buses, and quick boarding to efficiently move people.
According to the Public-Private Partnership Center, the Cavite BRT involves the development, operations, and maintenance of the 42-kilometer project that runs from Imus, General Trias, Tanza, Kawit, and Trece Martires.
The project will also be linked to the Parañaque Integrated Terminal Exchange, a public transportation hub that Megawide also operates.
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Megawide is keen on building up its infrastructure portfolio, leveraging its engineering and construction expertise.
Last year, it sold its remaining stake in the MCIA project, which it developed a decade ago, to the Aboitiz Group.
Megawide also aims to operate the P1.2-billion integrated transport terminal in Baguio City.
Apart from the Cavite BRT, Saavedra had previously indicated an interest in improving the EDSA busway.
Megawide’s partner
For the Cavite BRT, Megawide teamed up with Maplecrest Group, whose investments span property and township development, strategic landbanking, real estate sales and marketing, end-user financing, insurance brokerage, and public utilities.
Maplecrest previously partnered with Megawide’s real estate arm PH1 World Developers via joint venture Famtech Properties, which includes the developer Property Company of Friends Inc.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
