Conglomerate Lopez Holdings reversed in the second quarter the net loss it incurred in the same period last year at the peak of pandemic-induced restrictions that choked businesses. Lopez delivered a second quarter net profit of , a turnaround from the net loss of P881 million seen last year. Compared to the first quarter’s net…
CEBU CITY—Not even the COVID-19 pandemic can stop this new “city” from rising at the South Road Properties, a 300-hectare reclaimed area in the southern part of Cebu City. The construction of the South Coast City is in full swing—while strictly complying with health protocols—to meet its target completion by the second quarter of 2022.…
Philippine construction giants and an array of global contractors and engineering companies submitted bids to build a portion of the P345-billion Philippine National Railways’ Calamba project. In a statement on Thursday, the Department of Transportation (DOTr) called it a “record-breaking” turnout as the firms vied for six contract packages for the construction of 40.5 kilometers…
Megawide is no stranger to crises. Since we started operations more than two decades ago, we have developed key insights that have helped us navigate through the different cycles and thrive amid the most difficult times in our company’s—and country’s—unfolding history. We were born during the 1997 Asian financial crisis and started out as a…
Property developer Cebu Landmasters Inc. (CLI) will donate to the government of Cebu City a 100-unit medium-rise socialized residential condominium complex to shelter informal settlers who need to be evacuated from calamity-prone areas. The five-story residential project, valued at , will serve as transition housing for informal settlers near rivers, creeks, seas and other danger…
After being bludgeoned by the COVID-19 pandemic in 2020, Megawide Construction Corp. returned to profitability in the first quarter of this year as belt-tightening measures made up for slower revenues generated by the construction and infrastructure businesses. Megawide booked an attributable net profit of P2.9 million in the first three months, much smaller than the…
The Philippine economy contracted by 9.5 percent in 2020, the country’s worst performance since World War II. Colliers believes that the successful rollout of the COVID-19 vaccine will play a crucial role in the country’s economic recovery. The government-projected economic recovery in 2021, albeit slow, will likely support the growth of the property sector. We…