Megawide bags contract to build Landers Aseana City

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SAAVEDRA-LED Megawide Construction Corp. has secured the contract to build a new Landers Store in Aseana Business Park, Parañaque City.

Landers Aseana is an 18,710.91 square meter development, with construction expected to be finished by March 2025, Megawide said in an e-mailed statement on Thursday.

The ceremonial concrete pouring for project was done on March 20.

Landers Aseana will be Megawide’s fifth project for the Landers brand with Southeast Asia Retail, Inc. (SEARI), following other outlets in Alabang, Muntinlupa City; Balintawak, Quezon City; Arcovia, Pasig City; and Otis, Manila.

“Our foray into these kinds of modern, designed-for-convenience facilities showcases the breadth of our portfolio and our long experience in the commercial segment,” said Megawide Construction Chief Operating Officer Frederick T. Tan.

Megawide said the project will be constructed using the company’s proprietary brand of precast technology, composed of up to 80% precast materials including half slabs, footing tie and intermediate beams, girders, columns, and retaining walls.

The proportion marks an increase from previous builds, where only 20% precast was incorporated, the company said.

“Precast will be vital to meet SEARI’s requirement for a December 2024 soft launch of its newest branch, in time for this year’s Yuletide season. Facilitating a shorter timetable will significantly enhance our brands,” Mr. Tan said.

Megawide returned to profitability, logging a consolidated net income of P269 million in 2023, compared to the P1.87 billion net loss the prior year. The company’s consolidated revenue surged by 26% to P18.6 billion.

On Thursday, Megawide shares dropped by 1.02% or three centavos to P2.90 per share. — Revin Mikhael D. Ochave

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