Megawide bags P10.1B Mandani Bay Quay Phase 2

Engineering and infrastructure conglomerate Megawide Construction Corp.was recently awarded the engineering, procurement and construction (EPC) contract for the Mandani Bay Quay Phase 2, the waterfront development in Mandaue City by HTLand Inc., a joint venture company of Hongkong Land and Taft Properties.

“Megawide is proud to be a partner of HTLand Inc. in the construction of the Mandani Bay Quay Phase 2,” said Edgar Saavedra, Megawide chairman and chief operating officer. “With this large-scale, mixed-use development, we are solidifying Megawide’s engineering footprint in Cebu. It is truly a first-world project and we are committed to delivering the highest standards of engineering and construction,” he said.

Saavedra confirmed that the company has now exceeded its P24 billion target in new contracts this year with the signing of the P10.1-billion Mandani Bay project. “It is the largest contract for our construction segment that we have booked so far this year,” Saavedra said.

Megawide reported that new contracts awarded in the first nine months of the year amounted to P16.8 billion, 55 percent more than new contracts secured for the full year of 2017.

“Our prospects in the EPC business remain very bullish, as we continue to expand our order book levels and ensure revenue visibility for the next two to three years,” he said.

Saavedra added that Megawide will be expanding the scale of its construction operations in Cebu.

“We are further strengthening our operational efficiency in the region. It will be a good complement to our airport operations and our other ongoing EPC projects in the area.”

Construction will begin this year with the first tower, amenities area, commercial spaces, and parking levels, targeted for completion by the end 2021. The succeeding residential towers are targeted for delivery within the first half of 2022 and first quarter of 2023, respectively. /