Megawide and partner snare Manila contract
CONSTRUCTION and infrastructure group Megawide Construction Corp has landed a contract worth 3.3 billion pesos (Bt2.1 billion) with property developer DoubleDragon Properties Corp to put up a new office tower and a luxury hotel at Meridian Park along the Manila Bay area.
Megawide and DoubleDragon, through the latter’s subsidiary, DD-Meridian Park Development Corp., recently signed a contract for the construction of DoubleDragon Tower and Ascott DD-Meridian Park.
“We’ve been working with DoubleDragon for the DoubleDragon Plaza at DD-Meridian Park since the very beginning. To be trusted once again to work on these new projects is proof of our successful working relationship these past years,” Megawide chair and chief executive officer Edgar Saavedra said in a press statement yesterday.
DoubleDragon Tower and Ascott make up the third and final phase of the eight-tower DoubleDragon Plaza at DD-Meridian Park, a 4.75-hectare mixed-use development located at the Bay Area in Pasay City.
The 11-floor DoubleDragon Tower, which will be another office building within the development, will cover 61,859 square meters of land, while the 11-floor luxury serviced apartment Ascott will span 49,542 square meters. The total contract cost is around P3.3 billion for these projects.
Megawide had also worked on the first two phases of the development. These include the four-tower DoubleDragon Plaza completed this year, and the DoubleDragon Center-East and DoubleDragon Center-West buildings expected to be completed by the last quarter of 2018. DoubleDragon has recently relocated its headquarters to this new office development.
DD-Meridian Park Development Corp signed the deal with Ascott in June to develop a 300-room five-star serviced residence at the Meridian Park. Ascott, a Singapore-based company known to be one of the leading international serviced residence owner-operators, owns the brands Ascott The Residence, Citadines Apart’Hotel and Somerset Serviced Residence.
Saavedra said these new projects would open new opportunities to maximize Megawide’s engineering and construction expertise.
“Our team of professionals continues to study new methods and technologies to be able to deliver excellent results. We will make sure that Ascott and DoubleDragon Tower will come out as how our loyal client envisions them,” he said.