Draft:Megawide Construction

Megawide Construction
TypeBusiness unit
IndustryEngineering, procurement and construction
Founded1997; 29 years ago (1997)
Area served
Philippines
Key people
  • Edgar Saavedra (Chairman, CEO & President, Megawide Construction Corporation)
  • Frederick Tan (COO)
ProductsInfrastructure, commercial, industrial, and residential construction; precast concrete manufacturing
ParentMegawide Construction Corporation (PSE: MWIDE)
Websitemegawideconstruction.com.ph

Megawide Construction is the engineering, procurement and construction (EPC) business unit of Megawide Construction Corporation , a public company listed on the Philippine Stock Exchange. Megawide Construction focuses exclusively on EPC contracting across infrastructure, commercial, industrial, and residential sectors in the Philippines. It is distinct from the holding company, Megawide Construction Corporation, which also owns subsidiaries in landport operations, real estate development, and precast manufacturing.

Megawide Construction Corporation was founded in 1997 by civil engineers Edgar Saavedra and Michael Cosiquien and listed publicly in February 2011.[1][2] The EPC business unit, Megawide Construction, is the primary revenue driver of the group, contributing approximately 95 percent of consolidated revenues as of 2024.[3]

Corporate structure

Megawide Construction is the EPC arm of Megawide Construction Corporation, the PSE-listed holding entity. The holding company's other business units and subsidiaries include:

  • MWM Terminals, Inc. – operates the Parañaque Integrated Terminal Exchange (PITX) under a 35-year build–operate–transfer concession
  • PH1 World Developers, Inc. – residential real estate development arm, acquired in 2023
  • Cebu2World Development, Inc. – manages the Carbon Market redevelopment project in Cebu City
  • Precast and Construction Solutions segment – manufactures precast concrete components at a facility in Taytay, Rizal

Megawide Construction (the EPC unit) operates separately from these subsidiaries and focuses on contracting work for third-party clients and government projects. The consolidated financial results reported under the PSE-listed Megawide Construction Corporation reflect the combined performance of all business units.[3]

History

Founding (1997–2006)

Edgar Saavedra and Michael Cosiquien established Megawide Construction Corporation in 1997, one year after graduating with civil engineering degrees from De La Salle University, during the 1997 Asian financial crisis.[2][1] Saavedra later described the timing as advantageous: "With market prices down, equipment was readily available at less cost," and the company was able to hire unemployed professionals seeking work during the downturn.[2]

In its early years, the company adopted construction technologies uncommon in the Philippines at the time, particularly formwork systems sourced through contacts made via the internet with engineering professionals in Germany.[2] Saavedra described this period: "We became the company with the most advanced formworks system in the country and this eventually led us to prefabricated concrete or precast — another new technology that gave us the edge because we delivered better quality construction at a faster time with lesser manpower."[2]

Growth and public listing (2007–2011)

In 2007, Megawide Construction received its Triple A licence from the Philippine Contractors Accreditation Board (PCAB) and won two major construction contracts: the Berkeley Residences and Grass Tower 1 of SM Development Corporation.[1] Saavedra described the significance of the contracts: "Everyone wanted to get those projects. We were neophytes and everyone was struck to see that we use many new technologies from Germany which allowed us to give competitively and offer a quick turnaround time."[2]

Megawide Construction Corporation listed on the Philippine Stock Exchange on February 18, 2011, raising ₱2.3 billion — the first company to list on the exchange that year — with proceeds used to build a precast concrete manufacturing complex in Taytay, Rizal.[1][2] The IPO was oversubscribed.[2]

Infrastructure expansion (2012–2019)

Following its listing, Megawide Construction entered government infrastructure through a public–private partnership contract with the Department of Education to construct classrooms nationwide. Saavedra later described it as "a 10-year build-operate-lease-transfer contract" under which the company completed around 10,000 classrooms.[1]

In 2013–2014, Megawide Construction Corporation, in consortium with India-based GMR Infrastructure as GMR-Megawide Cebu Airport Corporation (GMCAC), was awarded a 25-year build–operate–transfer concession for Mactan-Cebu International Airport.[4] Megawide Construction served as the EPC contractor for the construction of Terminal 2, which was completed in 2018. The terminal used glued laminated timber (glulam) for its wave-form roof structure — covering approximately 65,000 m² — which Airport Technology described as one of the world's largest glulam supporting structures and the first of its kind in an Asian airport.[5] The terminal was inaugurated by President Rodrigo Duterte on June 7, 2018.[6]

In 2015, MWM Terminals, Inc. — a separate subsidiary of Megawide Construction Corporation — won a 35-year BOT contract for the Parañaque Integrated Terminal Exchange (PITX), which opened on November 5, 2018.[7] In 2017, Megawide Construction was upgraded to a Quadruple A (AAAA) PCAB licence — the highest level available to Philippine contractors.[1]

Major railway and subway contracts (2020–present)

In September 2020, a joint venture of Megawide Construction Corporation, Hyundai Engineering and Construction, and Dong-ah Geological Engineering Company was awarded Contract Package 1 of the Malolos–Clark Railway Project — the northern extension of the North–South Commuter Railway — valued at ₱28.38 billion and funded by the Asian Development Bank.[8][9][10] Megawide Construction serves as the EPC contractor for civil structures, viaducts, bridges, and stations under the joint venture.[9]

On May 5, 2022, a joint venture of Megawide Construction Corporation, Tokyu Construction Co., Ltd., and Tobishima Corporation signed Contract Package 104 (CP-104) of the Metro Manila Subway Project with the Department of Transportation, covering underground stations at Ortigas Avenue and Shaw Boulevard and connecting tunnels, at an aggregate value of ₱17.75 billion.[11] A groundbreaking ceremony was held on October 3, 2022, led by President Ferdinand R. Marcos Jr.[12][13]

EPC operations

Scope

Megawide Construction operates across three construction segments:

  • Infrastructure – railway systems, transport terminals, airport facilities, power plants, and social infrastructure
  • Commercial and industrial – mixed-use developments, hotels, integrated resorts, industrial warehouses, and cold storage facilities
  • Residential – high-rise condominium and horizontal housing developments for third-party property developers

As of mid-2024, Megawide Construction's order book — representing contracted EPC work not yet recognised as revenue — stood at ₱48 billion, equivalent to approximately three years of construction revenues.[14]

Construction revenues

Megawide Construction's EPC segment contributed ₱21 billion to Megawide Construction Corporation's consolidated revenues of ₱22.1 billion in 2024 — approximately 95 percent of the group total — growing 16 percent year-on-year. The precast and construction solutions segment, which supports Megawide Construction's EPC work, recorded revenues of ₱5.22 billion in the same year, a 28-percent increase.[3]

Precast methodology

Megawide Construction uses a precast concrete manufacturing facility in Taytay, Rizal, established using proceeds from Megawide Construction Corporation's 2011 IPO.[2] The facility produces structural components — including columns, beams, girders, and hollowcore slabs — used across Megawide Construction's EPC projects. According to Saavedra, the adoption of precast technology enabled the company to "build faster, cheaper, and with better quality."[2]

Founder

Edgar Saavedra co-founded Megawide Construction Corporation with Michael Cosiquien in 1997 after both graduated from De La Salle University with civil engineering degrees.[2] Saavedra serves as chairman, president, and chief executive officer of Megawide Construction Corporation. In a 2024 interview with BusinessWorld, he said the Philippine construction sector lagged global standards by several decades and advocated for government policy reform and stronger ties between the construction industry and university engineering programmes.[15]

Saavedra also chairs Citicore Renewable Energy Corp. (PSE: CREC) and Citicore Energy REIT Corp. (PSE: CREIT), both separately listed on the Philippine Stock Exchange and outside Megawide Construction Corporation's group structure.[1]

Standards and certifications

Megawide Construction holds the following certifications:[16]

  • Philippine Contractors Accreditation Board (PCAB) – Quadruple A (AAAA): The highest PCAB licence level for Philippine contractors. Megawide Construction first received a Triple A licence in 2007 and was upgraded to Quadruple A in 2017.[1]
  • ISO 9001:2015 – Quality Management System
  • ISO 14001:2015 – Environmental Management System
  • ISO 45001:2018 – Occupational Health and Safety Management System

References

  1. ^ a b c d e f g h "Infra, RE tycoon: It's not all about money". Philippine Tribune. September 8, 2024. Retrieved May 1, 2026.
  2. ^ a b c d e f g h i j k "How 2 DLSU engineers formed a construction giant". Manila Standard. September 24, 2016. Retrieved May 1, 2026.
  3. ^ a b c "Megawide income doubled to P538M in 2024". Inquirer Business. May 2, 2025. Retrieved May 1, 2026.
  4. ^ "Mactan-Cebu Int'l Airport: A showcase of culture, artistry". PPP Center of the Philippines. Retrieved May 1, 2026.
  5. ^ "Mactan-Cebu International Airport Terminal 2, Philippines". Airport Technology. Retrieved May 1, 2026.
  6. ^ "President Duterte inaugurates Mactan's new airport terminal". Presidential Communications Office of the Philippines. June 7, 2018. Retrieved May 1, 2026.
  7. ^ "PITX passenger traffic seen reaching up to 60 million this year". BusinessWorld. March 12, 2026. Retrieved May 1, 2026.
  8. ^ "Civil works contracts of P84.9-B Malolos-Clark railway inked". Philippine News Agency. Retrieved May 1, 2026.
  9. ^ a b "Contracts Worth $1.7 Billion Awarded for ADB-Funded Malolos–Clark Railway Project". Asian Development Bank. October 8, 2020. Retrieved May 1, 2026.
  10. ^ "Megawide consortium bags Malolos-Clark Railway Phase 1 contract". GMA News. September 21, 2020. Retrieved May 1, 2026.
  11. ^ "Tokyu-Tobishima-Megawide Joint Venture Signs Contract with DOTR for CP-104 of Metro Manila Subway". Megawide Construction Corporation. May 2022. Retrieved May 1, 2026.
  12. ^ "Marcos leads groundbreaking of Metro Manila subway". Manila Bulletin. October 3, 2022. Retrieved May 1, 2026.
  13. ^ "Work starts on Metro Manila Subway". International Railway Journal. October 5, 2022. Retrieved May 1, 2026.
  14. ^ "Infrastructure-building boosted Megawide's profits". Inquirer Business. August 16, 2024. Retrieved May 1, 2026.
  15. ^ "Megawide's Saavedra says gov't push, education key to construction growth". BusinessWorld. July 29, 2024. Retrieved May 1, 2026.
  16. ^ "About Us". Megawide Construction. Retrieved May 1, 2026.

Category:Construction companies of the Philippines Category:Companies based in Quezon City Category:Engineering companies of the Philippines Category:Engineering, procurement and construction companies Category:Public–private partnership

Content Disclaimer

Informasi ini disarikan dari Wikipedia dan disajikan kembali untuk tujuan edukasi. Konten tersedia di bawah lisensi CC BY-SA 3.0. Kami tidak bertanggung jawab atas ketidakakuratan data yang bersumber dari kontribusi publik tersebut.

  1. The information displayed on this website is sourced in part or in whole from Wikipedia and has been adapted for the purpose of restating it. We strive to provide accurate and relevant information, however:
  2. There is no guarantee of absolute accuracy. Wikipedia is an open, collaborative project that can be edited by anyone, so information is subject to change.
  3. It is not intended to constitute professional advice. The content displayed is for informational and educational purposes only. For important decisions (e.g., medical, legal, or financial), please consult a professional.
  4. Content copyright. Wikipedia is licensed under the Creative Commons Attribution-ShareAlike License (CC BY-SA). This means that content may be reused with appropriate attribution and shared under a similar license.
  5. Responsible use. Any risk arising from the use of information from this website is entirely the responsibility of the user.