Megawide order book climbs to P50B, driven by housing projects

MEGAWIDE Construction Corp. said its order book reached P50 billion last year, up 15% from a year earlier, driven mainly by residential project contracts.

“We are back to our comfortable level of around P50 billion, which will give us more revenue visibility over the medium term,” Megawide Chairman and Chief Executive Officer Edgar B. Saavedra said in a statement on Wednesday.

The company said the order book represents about three to four years’ worth of revenue and serves as an indicator of its construction segment’s performance.

Megawide said residential projects accounted for 35% of the total order book, followed by office and commercial projects at 28%, expanded Pambansang Pabahay Para sa Pilipino (4PH) projects at 23%, and infrastructure at 15%.

“More important, we want to highlight an emerging segment in our portfolio — the expanded 4PH — which we believe will provide a solid and sustainable pipeline as we aspire to build over 100,000 socialized housing units in the next five to seven years,” he said.

The expanded 4PH is a national government program aimed at delivering affordable housing.

Megawide said it expects to utilize unused capacity in its precast facility as it expands into the 4PH program, while also strengthening its traditional order book to support a steady revenue stream.

The company added that nearly half of the P23.4 billion in new contracts secured last year came from 4PH projects — Avesta, JAB, and Jenara Residences in Cavite — amounting to P10.7 billion.

Other new projects include Megaworld developments Uptown Modern and One Portwood worth P11 billion; the new passenger terminal building of Caticlan Airport valued at P1.6 billion; and solar power plants in Lucanin and Lumbangan from its affiliate Citicore Power, Inc. worth P270 million.

“On a broader scale, the company hopes that by sharing and adopting the technology, it can accelerate housing construction in the country and serve as a catalyst for modernizing the local industry,” it said.

Megawide said it plans to expand its precast capacity by setting up a new facility next year of similar size to support its growing 4PH order book.

Earlier, the company announced plans to redeem its maturing P1.5-billion Series 5 preferred shares on April 17.

“The redemption is part of our long-term financial management program. Already, we see substantial improvement in our debt levels this first quarter of 2026 and, combined with a healthy order book and reduction in preferred shares, can free up incremental cash flows. This will allow us to explore a shift in our dividend strategy to tap a broader shareholder base,” Mr. Saavedra said.

On Wednesday, shares in the company rose by four centavos, or 1.39%, to close at P2.92 each. — Ashley Erika O. Jose