Before Edgar Saavedra became the CEO of one of the Philippines’ leading construction firms, he was just a fresh graduate with a bold idea: start a business from scratch.
Saavedra, along with his classmate from La Salle, Michael Cosiquien, decided to enter the construction industry with no big contracts, just determination and a willingness to learn.
“Sabi ko sa kanya, mag-negosyo tayo. Mag-kontrata tayo, mag-gawa tayo ng construction,” Saavedra recalls.
Their first jobs were small-scale fit-out projects, some worth just P25,000—barely enough to cover operational costs. But the duo kept pushing, believing that every completed job would build their reputation.
From Small Homes to Skyscrapers
Their big break came when a relative’s father-in-law needed a house built for P5 million. It was the largest project they had handled at the time.
“Yun ang naging first project namin na talagang bahay,” Saavedra says.
With each project, their confidence grew. They moved from residential homes to mid-rise buildings, and then slowly scaled up to bigger developments.
“Nag-start kami as a mid-rise muna, tapos syempre may reference na kami, sinabi namin, ‘O eto kaya namin gawin.’ So slowly rin, hindi naman sya bigla,” he explains.
By their fifth year in business, the company had completed its first high-rise: a 17-storey building.
A Construction Empire Built From Nothing
Their journey wasn’t without challenges. They launched Megawide in 1997—just before the Asian financial crisis. But instead of seeing the crisis as a setback, Saavedra saw an opportunity.
“Ang good thing that time, yung pag-hire ng engineers and buying ng equipment, mura kasi crisis eh,” he says.
With a nothing-to-lose mentality, they pushed forward, building connections, taking on bigger projects, and proving their capabilities.
Today, Megawide is a construction industry leader, working on some of the country’s biggest infrastructure and real estate projects.
What started with P25,000 contracts has turned into a company that now builds the very skyline of the Philippines—proving that bold decisions and persistence can turn small beginnings into industry dominance.
This article includes quotes from an interview originally published by Esquire Philippines, authored by Henry Ong.
