AS it goes mainstream and aims to be in the top five property companies in the country, PH1 World Developers Inc. (rebranded from MySpace) is embarking on multiple projects in the affordable housing development to help address the country’s 6-million unit backlog.
In a press briefing, PH1 World chairman Edgar Saavedra said the company will be launching two to three projects every year.
PH1 World president Gigi Bautista said the company aims to disrupt property development conventions through innovation and engineering technology.
Leveraging on the strength of its sister-company and partner builder, Megawide Construction Co., PH1 World aims to be the most innovative property developer transforming the way Filipinos live and work.
“PH1 World’s goal is to build a diversified portfolio, focusing the next five years in growing the horizontal and mid-rise affordable housing segment,” Alcantara said in a presentation.
These include mid-rise condominiums, high-rise condominiums and horizontal developments.
“Our aim is to grow the mid- rise and affordable income housing segment priced at P2.4 million to P4 million and P3.5 million to P6.9 million, respectively,” Alcantara said.
PH1 World’s maiden project under then MySpace, the four-tower The Hive in Taytay, Rizal, is poised to be completed in 2023. Introduced in 2015, The Hive is expected to generate for the company total sales of P3.15 billion.
The value of the property has doubled from P55,000 per square meter (sq.m.) to P110,000 per sq.m.
Its first high-rise, My Enso, in Quezon City, meanwhile will generate P9.3 billion in revenues once completed in 2026.
A three mid-rise residential project, the Modan Lofts Ortigas Hills is expected to yield P6.8 billion until its turnover by 2026.
By far PH1 World’s biggest project is One Lancaster Park in Cavite and in partnership with ProFriends Inc. (Property of Friends).
The 10-hectare project will generate revenues of P60.88 billion and will be completed by 2033.
PH1 World’s mid-rise PASCO Modan Lofts in Pasig City will be completed in 2027.
Northscapes is Ph1 World’s horizontal development in San Jose del Monte, Bulacan and is projected to generate sales of P1.7 billion. Schedule of completion is 2026.
