MANILA, Philippines — The group of engineering tycoon Edgar Saavedra is targeting to disrupt the real estate industry with its property company, PH1 World Developers.
In a press briefing yesterday, Saavedra said PH1 World Developers has tapped Megawide as its contractor.
The company is spending up to P3 billion for the Modan Lofts project, a three-tower development of mid-rise buildings, Saavedra said.
PH1 World Developers president Gigi Alcantara said the first tower is already 20 percent sold.
The project is now available for pre-selling with young professionals and start-up families as the ideal market.
The value proposition is the extra space offered by the company. This is done through Add-Loft Technology, which is a PH1 innovation in its residential projects.
Add-Loft helps create additional space in the units that can be customized and personalized by the user depending on one’s lifestyle.
Megawide is PH1’s contractor for the project. It also built the previous two projects of PH1 and is expected to utilize its brand of engineering innovation for Ortigas Hills.
“Megawide has always been our trusted partner builder and we’re confident that Ortigas Hills will be engineered using innovative methodologies that meet proper engineering standards,” Alcantara said.
“Taytay is an extraordinary residential location providing accessibility to malls, hospitals, city halls, churches, public markets and other commercial establishments,” he said.
The development is close to the Ortigas business district, which also makes it an ideal location for young and working professionals.
Modan Lofts will offer 1,000 units with the completion targeted by 2026.
The company is projecting P6.5 billion to P6.8 billion in sales from the project, which marks the company’s third offering after its flagship project, The Hive Residences also in Taytay and My Enso Lofts in Timog.