Megawide’s PH1 holds off IPO plans,may seek strategic investors instead

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

February 9, 2026 | 12:00am

MANILA, Philippines — PH1 World Developers Inc., Megawide Construction Corp.’s real estate arm, is unlikely to proceed with an initial public offering (IPO) this year and may entertain strategic investors instead.

“Potentially we can do an IPO, but our options now have expanded,” PH1 and Megawide chairman Edgar Saavedra said.

He said there are strategic investors that have approached the company recently.

“There are investors who are inquiring again because they like the story,” he said.

Asked how much the company is willing to sell to potential investors if ever, Saavedra said it was too early to say.

In December last year, Megawide also entered into an investment and partnership agreement with the Home Development Mutual Fund (HDMF), more popularly known as Pag-IBIG, to accelerate the government’s expanded Pambansang Pabahay Para sa Pilipino (4PH) program.

The agreement involves Pag-IBIG’s participation as an investor in the 4PH housing projects through a subscription to perpetual preferred shares issued by Megawide Dreamrise Residences Inc. amounting to P10 billion, payable in three tranches.

The funds will in turn be used to deliver at least 7,000 housing units, at affordable packages, over the next two to three years.

“Pag-IBIG said that if you can really do this, deliver on the commitment, then they may expand more. So we really have many options right now,” Saavedra said.

Megawide acquired PH1 World from Citicore Holdings Investments Inc. for P5.2 billion in 2023.

The company is focused on the affordable housing segment to address the gaps in the Philippine housing market.

Saavedra earlier said PH1 should be ripe for an IPO by 2025 or 2026.

At present, however, Saavedra does not see a PH1 IPO happening in the short term.

PH1 was expected to contribute more significantly to Megawide’s consolidated performance last year.

PH1 reported P3.38 billion in sales from January to September 2025, more than double the P1.59 billion posted in the same period the previous year.

With its healthy levels, the company is expected to become a more valuable contributor to Megawide’s consolidated revenue and net income generation starting this year.