MANILA - Megawide Construction Corp. has taken a significant step in the real estate sector with the acquisition of PH1 World Developers Inc. from Citicore Holdings Investment, a deal valued at P5.2 billion. This strategic move is set to bolster Megawide's position in the market as PH1 gears up for its initial public offering (IPO) by 2026.
PH1 World Developers, known for managing five projects across Metro Manila, is on a growth trajectory with plans to introduce two new developments each year. The company's ambitious strategy aims to have eight to ten active projects in the coming decade. This expansion is focused on the affordable housing segment, which is evidenced by an impressive estimated inventory value of P200 billion earmarked for sale over the next ten years.
The company's portfolio includes promising developments such as Northscapes San Jose Del Monte and Modan Lofts Ortigas Hills. These projects are a testament to PH1's commitment to medium-rise developments, catering to the robust demand in the affordable housing market.
With this acquisition and the forthcoming IPO, Megawide anticipates a substantial increase in earnings before interest, taxes, depreciation, and amortization (EBITDA). The company projects that PH1's EBITDA will soar to P5 billion, a figure that would surpass Megawide's own EBITDA performance.
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