PH1 World Developers Inc., the property development arm of Megawide Construction Corp., on Wednesday said it more than doubled its sales to P3.38 billion in January to September from the previous year’s P1.59 billion.
The level is already 94 percent of full year 2024’s sales, which might be breached before the end of October, the company said.
‘Our sales success is a reflection of how we approach development differently,’ Gigi Alcantara, PH1 president, said.
‘Yes, location is critical, and all our projects are strategically placed for accessibility and convenience. But beyond that, PH1 brings an extra touch-a vision to deliver a true first-world living experience to Filipinos, championing the mission of our parent company, Megawide.’
Despite market challenges, PH1 has already secured nearly P3.34 billion in reservation sales this year.
The company’s strong showing is largely driven by standout developments such as Lykke Kondo in Pasig and One Lancaster Park in Cavite.
Launched only in early 2025, Lykke Kondo has already crossed the P1-billion reservation mark, proving the strong demand for its innovative condo offering.
Meanwhile, One Lancaster Park continues to dominate, generating more than P2 billion in total sales since its first tower launch.
Its third tower, introduced earlier this year, already accounts for nearly P1 billion of that amount in reservations.
As of end-September, PH1 still has unbooked revenues of around P10.16 billion and outstanding inventory of more than P20 billion from its existing projects. These excludes developments to be launched soon.
With these healthy levels, PH1 is expected to become a more valuable contributor to Megawide’s consolidated revenue and net income generation starting next year, the company said.
PH1 said it is poised to exceed its 2024 performance by ‘a wide margin’ and contribute more significantly to Megawide’s consolidated performance for this year.
Megawide announced last Monday that it received the notice of award from the local government unit (LGU) of Baguio City to implement a P1.2-billion terminal project.
The Baguio City Integrated Terminal (BCIT) project will be implemented under a 40-year lease agreement with the LGU.
Initially targeted to serve seven southbound routes-including La Union, Pangasinan, Tarlac, Pampanga, Bulacan, Metro Manila and Cavite-the terminal is initially designed to accommodate 25,000 passengers daily, for both long haul and daily commuters.