Engineering and infrastructure firm Megawide Construction Corp. has bagged a P10.1-billion contract to build the second phase of waterfront mixed-use development Mandani Bay Quay in Mandaue City, Cebu.
With the new contract, so far the single largest deal booked by Megawide’s construction segment this year, the company has now exceeded its target of P24 billion in new contracts for the year.
Mandani Bay is a project of HTLand Inc., a joint venture between Hongkong Land and Taft Properties and Megawide’s second project with Taft.
“Megawide is proud to be a partner of HTLand Inc. in the construction of the Mandani Bay Quay phase 2,” said Edgar Saavedra, Megawide chair and CEO.
“With this project, we are solidifying Megawide’s engineering footprint in Cebu. It is truly a first-world project and we are committed to delivering the highest standards of engineering and construction.”
Mandani Bay Quay phase 2 has a construction floor area of 328,000 square meters. The development will include three 40-story residential towers, one 30-story office building, an amenities floor, two commercial levels, and four floors of podium parking.
Construction will begin this year with the first tower, together with the amenities area, commercial space, and parking levels. These are targeted for completion by the end of 2021.
The succeeding residential towers are targeted for delivery within the first half of 2022 and first quarter of 2023, respectively, while the office tower will be completed by the fourth quarter of 2022.