MANILA, Philippines — Edgar Saavedra’s Megawide Construction Corp. is embarking on another collaboration with the listed property developer chaired by Edgar “Injap” Sia II.
Megawide said it has commenced construction activities for DoubleDragon’s Hotel 101 project in Bridgetowne Estate.
The Hotel 101 project is the sixth project of Megawide with DoubleDragon, with the parties formalizing their deal on building the hotel’s structure last year.
The 702-unit leisure hotel will be built on a 2,547-square meter property inside Bridgetowne Estate in Libis, Quezon City.
The target completion for the project is on the fourth quarter of 2026.
Megawide has so far completed four projects with DoubleDragon – DD Center East and West, DD Plaza and DD Tower.
Construction is ongoing for two more projects, DD Meridian Tower and Ascott DD Meridian Park Manila.
“Megawide has earned a high level of trust from clients in the commercial segment, including hotels. These are complemented by our deep experience in engineering mixed-use and vertical developments,” Megawide chief operating officer Frederick Tan said.
“This synergy with DoubleDragon, which is a major player in this industry, shows our company’s drive for excellence anchored on state-of-the-art construction solutions and vertically integrated operations,” he said.
Megawide said it would utilize its proprietary precast technology on Hotel 101 to ensure faster and cost-efficient results.
The technology was previously applied to the Ascott DD Meridian Park Manila and the Meridian Tower within the DoubleDragon Plaza at DD Meridian Park in the Bay Area, the listed engineering and infrastructure company said.
“We continue to explore avenues to incorporate and maximize our brand of innovation in the local engineering and construction arena by closely working with our precast and construction solutions unit to offer efficient project turnaround, while reducing long-term outlays for our valued clients,” Tan said.
Megawide expects its construction business to sustain improvements on the succeeding quarters of the year after the segment’s strong showing in the first quarter.
Construction remained the biggest contributor to the company’s consolidated revenues during the first quarter at P4.9 billion, up by 16 percent from the previous year.
Saavedra earlier said Megawide wants to maintain an annual order book equivalent to two to three years worth of revenues, or between P40 billion and P45 billion, depending on the size and duration of projects.
He said Megawide also remains keen on submitting bids for more infrastructure projects to be offered by the government.
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