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Manila Bulletin devider Business devider The Stock Market devider Megawide ordered to pay ₱369 million in Cebu project dispute

Megawide ordered to pay ₱369 million in Cebu project dispute

Published Jan 27, 2026 11:25 am
Megawide Construction Corp. has been ordered to pay ₱368.92 million to settle a long-standing construction dispute involving a flagship mixed-use development in Cebu, though the award represents only a fraction of the original claim.
In a disclosure to the Philippine Stock Exchange, Megawide said the Construction Industry Arbitration Commission (CIAC) issued the final ruling in favor of HTLand Inc., a joint venture between regional powerhouse Hongkong Land and Taft Properties Inc.
Megawide disclosed the receipt of the award notice on January 22, 2026.
The settlement is significantly lower than the ₱1.3 billion initially sought by HTLand
Megawide said it is “currently evaluating the Final Award and will take such actions as may be appropriate under applicable laws and CIAC rules.”
On November 13, 2024, Megawide received a Request for Arbitration filed by HTLI in connection with the All-Inclusive Construction Works Agreement dated June 3, 2019, for the construction of the project known as "Mandani Bay Quay - Phase 2 Block 1" at Mandani Bay Avenue, Mandaue City, Cebu.
In the Request for Arbitration, HTLI claimed a total of ₱1.3 billion against Megawide, excluding interest on all claims except the amount reconciled by HTLI and Megawide.
Mandani Bay Quay is a mixed-use project with a construction floor area of 328,000 square meters. The development includes three 40-story residential towers, one 30-story office building, an amenities floor, two commercial levels, and four floors of podium parking.
Located along the Mactan Channel, Mandani Bay is a mixed-use residential waterfront community and a 20-hectare waterfront development designed to be the focal lifestyle destination of its area.
Mandani Bay also has the 5-star BERDE rating from the Philippine Green Building Council, a first in the VisMin region.

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Megawide Construction Corporation HTLand Inc. Construction Industry Arbitration Commission
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