In a move that promises to redefine the landscape of the real estate industry, PH1 World Developers, one of the companies behind the joint-venture company Famtech recently acquired by construction and engineering leader, Megawide Construction Corporation. This acquisition, driven by a shared commitment to excellence and innovation, marks a pivotal moment in the journey towards an even greater success for Famtech and its stakeholders.
Last July 2023, Megawide acquired 100% capital stock or 579.46 million shares of PH1 for P5.2 billion or P8.97 apiece in line with the fairness opinion report of FTI Consulting Philippines, Inc.
Elevating The Real Estate Industry
The acquisition of PH1 Developers by Megawide Construction Corp is not merely a business transaction; it is a fusion of two industry giants, both unwavering in their dedication to setting new benchmarks for excellence, innovation, and transformative real estate development.
Megawide’s reputation in construction, engineering, and infrastructure development is seamlessly aligned with PH1 Developers’ mission and values. Their steadfast commitment to quality, efficiency, and sustainability resonates profoundly with Famtech’s core principles, setting the stage for a dynamic partnership and a greater future for the real estate industry.
At its heart, this journey has always been about more than just constructing buildings; it is about building properties, shaping communities, elevating experiences, and setting new industry standards. With this acquisition, Famtech is determined to break new ground and redefine the boundaries of real estate development. As always, the focus remains on delivering unparalleled value to clients and creating environments that enrich lives.
Stay tuned for forthcoming updates on property developments under Famtech, PH1 Developers, and Megawide.
