PH1 WORLD Developers, Inc. said on Tuesday that it sees more possibilities with its residential development projects after it was acquired by listed infrastructure company Megawide Construction Corp.
“We are very excited to officially be part of Megawide and believe that this is a strategic move for us, especially in terms of unlocking more possibilities — in the areas of design, engineering, and technological advances — that will further strengthen our offerings in the vertical and horizontal residential segments,” PH1 President Ma. Gigi G. Alcantara said in a statement.
Megawide acquired 100% of PH1’s capital stock or 579.46 million shares for P5.2 billion or P8.97 per share based on the fairness opinion report of FTI Consulting Philippines, Inc. It forged a share purchase agreement with Citicore Holdings Investment, Inc.
The deal was in line with Megawide’s effort to tap the properties market, it aims to target affordable housing for below-middle-income or middle-income levels.
“Innovation unites our companies… [our] disruptive mindset, coupled with Megawide’s innovative solutions approach to its developments, are expected to challenge existing norms and raise standards in the highly competitive local property scene,” Ms. Alcantara said.
Meanwhile, the company said it is set to introduce two vertical developments in its pipeline that will be located in Pasig City and Clark, Pampanga.
Its other vertical projects are the My Enso Lofts and Modan Lofts Ortigas Hills, which offer residents the freedom to customize their living spaces and maximize functionality through its unique Add-Loft technology.
For its horizontal development, the company will also launch a project in Bulacan: the Northscapes San Jose Del Monte, which will highlight energy-efficient solutions.
“The plans include various technologies such as solar panels, tinted windows, insulated walls, E-shuttle, and solar-powered streetlights that will be incorporated in the units and the entire development to provide residents a more convenient, sustainable, and green lifestyle – with no extra cost,” Ms. Alcantara said.
PH1 is a real estate company that aims to disrupt property development conventions through innovation and engineering technology. — Adrian H. Halili
