Hey there! Today is October 18. It’s been a month since I released my last newsletter. But now I’m back! In todays newsletter we will cover a man who help his family business at a young age became the founder and CEO of the biggest construction firm in the Philippines.

Lets dive in…

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STORY

The Story Of The Man Behind The Success Of Megawide Construction

How did this man from Zamboanga who wanted to earn more money become the founder and CEO of the biggest construction company in the Philippines and revolutionize the construction industry in the country? This is the story of Mr. Edgar Saavedra.

👷The humble beginnings. 

Edgar was an ordinary man in Zamboanga at a young age he already helped his parents with their family business. That was also the foundation of his love for business.

When he graduated high school, he went to Manila and enrolled at De la Salle University taking electronics. But after his first year on the course, he can’t see himself doing business with electronics in the future.

At that time Edgar met some of his schoolmates' fathers who owned construction businesses and they were so successful and rich. This is one of the reasons why Edgar pursued another dream, to be a licensed civil engineer and create a construction business someday.

In the next school year, Edgar shifted to Civil Engineering. After he graduated Edgar invited his friend Michael Cosiquien to start a construction company. But by the time they start, they face the biggest challenge immediately.

📉 The challenge

The time Megawide started, was also the mid of 1997 Asian Financial Crisis. Edgar didn’t know what this crisis was and how it could affect their company. But he is still hopeful that his company will grow massive.

At this time the 2 friends are still analyzing how they can position their business in the market. They submitted all the documents needed to start the business.

Megawide is named Megawide because this is the only name that the SEC approved out of the names they have submitted. Luckily megawide survived that crisis.

📈 After the crisis

Edgar and Michael found their Luck because after the crisis, it was also the start of an economic boom in the Philippines. They even got a project from SM and other developers.

Up to now, Megawide participated in Major infrastructure projects in the country including PITX, Mactan Cebu International Airport, Clark International Airport passenger terminal building, and more.

Edgar's resilience and determination became the foundation of Megawide's success.

QUOTE OF THE DAY

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That’s all for today constructors! I hope you enjoyed another edition of Construction Side. We’ll meet again in the next edition. Let’s keep constructing.