Saavedra-led Megawide Construction Corp. is projecting that its net income will jump 52 percent to ₱1.82 billion next year from the target of ₱1.2 billion this year on the back of substantial savings from the reduction of debt as well as the improving performance of its construction and real estate businesses.

During the firm’s annual stockholders’ meeting (ASM), Megawide Chief Finance Officer (CFO) Jez G. de la Cruz said the ₱4.5 billion raised from the recent sale of the company’s nine-percent stake in Citicore Renewable Energy Corp. (CREC) to state-run pension fund Government Service Insurance System (GSIS) was used to pay down debt under the company’s debt-reduction program.

“For 2026, we are generally on track in terms of our plans and programs. In terms of debt reduction alone, from ₱17 billion in working capital lines or short-term loans at the beginning of the year, we’re now down to about ₱10 billion as of June of this year,” he noted.

The ₱7-billion debt reduction translates to about ₱480 million in interest cost savings alone. However, given that the paydown happened throughout the first half of the year, Megawide will only see an immediate partial benefit from that.

Meanwhile, Megawide Chairman and Chief Executive Officer (CEO) Edgar Saavedra said they intend to expand their Pambansang Pabahay Para sa Pilipino (4PH) housing footprint to other areas in Mega Manila after having started in Cavite province.

Aside from growing their presence in Cavite, he said they are also looking north of Metro Manila, such as Bulacan province, particularly in Meycauayan City area, as well as toward the east, in the area of Taytay town, Rizal province.

“This is primarily to focus the Metro Manila market, wherein the development will be not too far from the main city. We’re targeting, like, less than 30 minutes travel time as much as possible,” he added.

Also, real estate subsidiary PH1 World Developers Inc. is looking to develop more horizontal housing projects similar to the one it developed in Trece Martires City in Cavite and will be launching new projects in Cavite as well as in Bulacan area.

Megawide said last month that it is targeting a 79-percent jump in net income to ₱1.2 billion this year from ₱669 million in 2025, backed by a strong pipeline of projects and lower debt.

“We are on track to achieve our back-ended target of ₱1.2-billion net income for the year. With a rich pipeline of projects, anchored on the government’s expanded 4PH program, complemented by a robust internal order book and big-ticket external projects, we are confident of sustaining a healthy performance in the medium to long term,” said Saavedra.

Megawide’s ₱669-million net income in 2025 was 24 percent higher than a year ago and was followed by 26-percent net income growth in the first quarter of 2026 to ₱266 million.

“Three years ago, we unveiled our 3-D strategy–deliver, de-lever, and de-carbonize which will anchor our long-term shareholder value creation program. We purposely focused on these three legs, with the intent of building a more stable and sustainable business platform, a stronger balance sheet, and an ESG [environmental, social, and governance]-compliant organization. These, in turn, will offer us better stability and enhance shareholder value,” said Saavedra.

Megawide has a diverse and healthy construction order book worth ₱48.7 billion as of end-March 2026, comprised largely of end-user-focused residential projects from its real estate subsidiary PH1 World Developers; high-value, big-ticket private commercial, industrial, and infrastructure contracts; and an essential socialized housing portfolio under the government’s expanded 4PH program–of which around 22,000 units are currently in various stages of development.

The company is also developing Baguio City Integrated Terminal, South Luzon Integrated Terminal Exchange, and Cavite Bus Rapid Transit (BRT) System to expand its transport-oriented development (TOD) portfolio.