8990 taps Megawide for project

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MASS HOUSING developer 8990 Holdings, Inc. has tapped engineering conglomerate Megawide Construction Corp. to build its horizontal housing project in Meycauayan, Bulacan.

In a statement issued Wednesday, 8990 Holdings said it has signed an agreement with Megawide for the construction of about 5,000 townhouses as part of the firm’s 41-hectare project called Deca Homes Meycauayan in Barangay Saluysoy.

The project is 8990 Holdings’ second in Bulacan, following its 14-hectare project that houses a mix of townhouse units and medium-rise buildings.

The agreement extends 8990 Holdings’ partnership with Megawide, which is also building two of its largest projects in Metro Manila. This includes Urban Deca Homes Manila, a 13-building, mid-rise condominium complex catering to the affordable market.

Megawide is also constructing Urban Deca Homes Ortigas, which consists of 25 mid-rise buildings along Ortigas Extension, Pasig City.

Megawide uses structural precast technology for low-cost housing projects. During the signing ceremony for Urban Deca Homes Ortigas in 2017, Megawide President Edgar Saavedra said they are working with Japanese and German technical engineers to create a “structurally resilient design.”

The listed property developer noted the growing popularity of Bulacan as a choice for families looking for a home, given the major infrastructure projects seen to link the province to Metro Manila in the next few years.

It cited the completion of the Metro Rail Transit Line 7 in 2020, which could shorten travel time from North Avenue in Quezon City to San Jose del Monte, Bulacan to 30 minutes, compared to the current two-hour travel time.

The province is also an hour away from Clark International Airport. At the same time, there is currently a proposal to build an international airport in Bulacan.

Shares in 8990 Holdings jumped 3.57% or 42 centavos to close at P12.20 each at the stock exchange on Wednesday. — Arra B. Francia