Megawide kicks off vertical construction for Php3.7-B One Portwood Residences

Ten years strong for Megawide and Megaworld!

Megawide Construction Corporation (“Megawide” or “the Company”), through its core engineering, procurement and construction services, recently completed the First Concrete Pouring for Megaworld Corporation’s (“Megaworld”) latest high-end residential project in Pasay City.

This milestone symbolizes the start of the building’s main structural works, signaling the transition from foundation preparation to vertical construction, laying the groundworks for the structure’s strength, durability, and long-term integrity.

The project — One Portwood Residences — is a 14-storey, 73,561-square-meter residential development. The contract cost is estimated at Php3.67 billion and forms part of the Company’s healthy order book of P48.7 billion as of end-March 2026.

The Company will be utilizing its integrated engineering and construction approach, leveraging First-World engineering standards and strict quality control systems. These ensure efficiency in execution while maintaining the highest levels of safety, structural reliability, and build quality expected in a premium residential development.

Megawide Construction Chief Operating Officer (COO) Frederick Tan emphasized the company’s commitment to delivering value-driven construction execution.

“Milestones, like this, are an opportunity for us to add greater value to the project through disciplined execution, engineering expertise, and a strong working relationship with Megaworld. Having worked withthem since 2016 and now spans 15 projects, we continue to deliver developments that combine both quality and efficiency at every stage of construction,” shared Tan.

Megaworld SVP Ar. Jennifer Romualdez also expressed her confidence and enthusiasm for the project’s progress.

“We are excited to see this development take shape and are confident in Megawide’s capability to deliver with both quality and timeliness. This project is part of our vision of creating premium residential spaces, and we look forward to its successful completion,” shared Romualdez.

Megawide and Megaworld drive the development of high-quality residential projects that raise urban living standards in key growth areas such as Pasay City. One Portwood Residences is targeted for completion in 2028, signaling another step forward in delivering world-class residential infrastructure in the Philippines.

Aside from Tan and Romualdez, other key executives from both companies who graced the event last May 29, 2026, were Group Head for Operations Jules Ronquillo and members of the Megawide Construction Management Committee. Megaworld, on the other, were also joined by First Vice-President Ar. Astrid Cruz, Construction Manager Engr. Leslie Habla Santos, along with their respective sales and project teams.

Megawide reported strong financial results in the first three months of the year — recording a 25% growth in net income to Php265 million amid the onset of the Middle East War and a healthier balance sheet of 1.1x debt-to-equity (D-E) ratio  and 0.8x net D-E ratio from 1.5x and 1.1x, respectively, as of end-December 2025. The Company is expecting another robust, back-ended performance this year anchored on its construction and real estate segments.

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