PH1 World Developers Inc., the property development arm of publicly-listed Megawide Construction Corp., on Tuesday took out a P500 million loan from Ayala-led Bank of the Philippine Islands for the development of its property in San Jose Del Monte, Bulacan.
The transaction is seen to accelerate PH1 World’s value creation drive and a major growth driver for its parent-contractor Megawide in the next two years.
“We thank BPI for their vote of confidence in both PH1WD and Megawide, through Northscapes, and our goal to bring energy-efficient communities to emerging locations such as San Jose Del Monte,” Gigi Alcantara, PH1 World president, said.
The BPI said providing PH1 WD the funding for the project was a clear choice.
“Financing for Northscapes aligns with BPI’s vision to build a better Philippines—one family, one community at a time. We look forward to more collaboration with PH1WD to further advance our shared goal of creating positive change and developing sustainable communities,” Luis Cruz, head of commercial banking relationship management group, institutional banking segment at BPI, said.
The partnership reinforces PH1’s commitment to complete its pioneering house and lot project in Northern Luzon.
Launched in September 2023, the 4.6-hectare residential Northscapes development features 338 energy-efficient housing units and brings sustainable living to Bulacan. Each house has solar panels, tinted windows and insulated walls. These features reduce the energy needed to cool your home, significantly cutting down electricity costs.
Townhouses at Northscapes range from 53 square meters or 70 square meters for end units while single attached house models have up to 95 square meters of space.
The Northscapes project has earned accolades, including Best Green Development and Best Housing Development at the 2023 Carousell Property Awards.
