Megawide Construction Corp. expects to bag two new transport-oriented projects in Baguio City and Cavite province within the next six months.
Megawide chief business development officer Jaime Raphael Feliciano said in a recent forum the Cavite project is now undergoing Swiss Challenge, while the Baguio project is still subject to city council approval, to be followed by Swiss Challenge.
Feliciano said no competing bids were submitted for the Cavite project.
“We confident that we will bag two projects,” Feliciano said. Each project costs between P1 billion to P1.2 billion.
Megawide constructed the country’s first integrated and multimodal terminal in the Philippines—the Paranaque Integrated Terminal Exchange (PITX).
Meanwhile, Feliciano said the ban on Philippine offshore gaming operators (POGOs) would not have a significant impact on the leasing revenues of PITX.
About 50 percent of office space in PITX is leased out to POGOs, while the remaining spaces are occupied by business process outsourcing companies, government and traditional offices.
Feliciano said other tenants expressed interest in expanding in the area as soon as they heard the ban on POGOs.
“So, yes there will be an impact, but that we feel the impact will not be that significant,” Feliciano said.
Megawide’s landport operations under PITX delivered revenue of P205.2 million from office towers and commercial spaces in the first half of 2024.
The improvement was attributed to the continued growth in foot traffic, reaching a record 156,000 in monthly average as of June 2024 and healthy spending per passenger (SPP) of P34.
Occupancy in the commercial segment and take-up of office towers both improved.
Jenniffer B. Austria
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