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Manila Bulletin devider Business devider Citicore subsidiary enters housing market with P19-B projects

Citicore subsidiary enters housing market with P19-B projects

Published Dec 13, 2022 02:50 pm

PH1 World Developers, a subsidiary of Citicore Holdings and sister company of Megawide Construction Corporation, has jumpstarted its entry into the residential property market with the launch of P19.25 billion worth of projects this year.

In a press briefing, PH1 Chairman Edgar Saavedra said the firm aims to build a diversified portfolio ranging from horizontal to mid-rise and high-rise developments.

With plans to launch three projects a year, he added that, over the next five years, he said PH1 will focus on growing the horizontal and mid-rise affordable housing segment in response to the Philippines’ huge backlog of housing.

The firm has already launched two projects, the starting with the P3.15 billion mid-rise The Hive in Taytay, Rizal and the P9.3 billion My Enso Lofts high-rise development in Timog, Quezon City.

PH1 Chairman Edgar Saavedra

PH1 has recently secured the License to Sell for its recently inaugurated Modan Lofts Ortigas Hills located in Taytay, Rizal which has a sales value of P3.15 billion.

Now available for preselling, Modan Lofts Ortigas Hills was created primarily for young professionals, upgraders and start-up families who want to achieve independence yet prefer to live close to their workplace.

Modan Lofts Ortigas Hills offers “Extra Space At No Extra Cost”, a PH1 innovation in its residential projects that uses the company’s exclusive Add-Loft Technology.

Add-Loft helps create additional space in the units which can be customized and personalized by the user depending on one’s lifestyle.

Megawide is PH1’s contractor for this project. It also built the previous two projects of PH1 and is expected to utilize its brand of engineering innovation for Ortigas Hills, including proprietary precast technology that can increase construction efficiency without compromising quality and efficiency.

“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,” said PH1 World Developers President Gigi Alcantara.

She noted that, “Taytay is an extraordinary residential location providing accessibility to malls, hospitals, city halls, churches, public markets and other commercial establishments.” “The proximity of the project to the Ortigas business district also makes it a perfect residential choice most importantly for young and working professionals,” Alcantara added.

The Modan Lofts Ortigas Hills, which will consist of three mid-rise condominium buildings, is targeted to be completed by 2026.

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edgar saavedra PH1 World Developers
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