METRO MANILA – Philippine-listed Megawide Construction Corp (Megawide) announced today that it has been awarded multiple contracts worth P26.3 billion by Suntrust Home Developers Inc for its Westside City Resorts World project.
Suntrust is the Philippine unit of Hong Kong-listed Suncity Group Holdings. It is building the newest landmark in Metro Manila’s growing roster of world-class gaming, hotel, and retail destinations that will be located at Entertainment City along Manila Bay.
The project is expected to be completed within 30 months from start date.
The initial Letters of Award from Suntrust – totaling P6.3 billion – included initial works such as (1) pile cap, excavation, and lateral support direct contract, worth P2.3 billion, and (2) Site B Main Contract (including basement substructure, superstructure, and architectural builders works and finishes, amounting to P4.0 billion.
Then, on 18 December 2020, Megawide was awarded a Supplemental Agreement amounting to P20 billion, for Management of Nominated Subcontractors for MEPF, interior design, allied services and the like of the Main Hotel Casino, including additional architectural, structural and civil works.
“The requirements of Suncity, in terms of engineering excellence, quality workmanship, and speed to market, perfectly match Megawide’s expertise. We are thrilled to provide them with our full array of services for this landmark project and, with our experience completing similar projects of the same scope and scale, we are confident of delivering above the client’s expectations,” said Edgar Saavedra, Megawide Chairman and CEO.
He continued, “Large-scale investments such as these are critical for our national economic recovery from the crisis caused by COVID-19. We salute our clients for their faith in the Philippines’s prospects to bounce back from this pandemic and thank them for their continued trust in Megawide”.
Megawide continues to build a robust order book of construction projects, revenues from which remain the main contributor to the company’s financial performance.
In the third quarter of 2020, the Company also secured the Aglipay Sewage Treatment Plant industrial contract with Manila Water amid the weakness of private residential developments. – BusinessNews.ph
