Manila Water

What Manila Water does

Manila Water Company, Inc. is a publicly listed Philippine water utility (PSE ticker: MWC; OTC pink: MWTCF) incorporated in 1997 and operating under an exclusive concession from the Metropolitan Waterworks and Sewerage System (MWSS) for the East Zone of Metro Manila and the Province of Rizal. The company provides water treatment, water distribution, and wastewater/sanitation services to over 7.9 million customers across 24 cities and municipalities spanning 1,400 square kilometers, delivering regulated, usage-based monthly tariffs under a concession extended to 2037 and reinforced by a 25-year legislative franchise (Republic Act No. 11601) effective January 25, 2022. The technology platform comprises multiple treatment plants (Balara, East La Mesa, East Bay Phase 1), the Upper Wawa Dam (710 MLD), and an integrated distribution network that has reduced non-revenue water from 63% to an average of 13% and maintained near-100% availability in the central distribution system even during severe El Niño conditions.

The company monetizes through usage-based regulated water tariffs (residential, semi-business, commercial, and industrial customers) plus ancillary services including desludging, B2B water and wastewater, and Estate Water operations for Ayala Land townships. The business is operated through two principal holding arms: Manila Water Philippine Ventures (MWPV) covering domestic bulk water, water distribution, and wastewater subsidiaries in Boracay, Clark, Laguna, Cebu, Davao, and elsewhere, and Manila Water Asia Pacific (MWAP) for international ventures in Vietnam, Thailand, Indonesia, and Saudi Arabia (the latter via a 7-year Management, Operation and Maintenance Contract with NWC). Capital allocation emphasizes infrastructure modernization: the Php 2.7 billion East Bay Phase 1 Water Treatment Plant (50 MLD, drawing from Laguna Lake via DAF, activated carbon, and reverse osmosis) was physically completed in 2024 and commissioned in 2025, and the East La Mesa Treatment Plant is targeted for full completion by end-2026. Trident Water is the controlling shareholder (52.16%), with Philwater Holdings (19.01%) and Ayala Corporation (12.26%) as substantial shareholders; the company is part of Enrique "Ricky" Razon Jr.'s diversified portfolio.

Name

Manila Water

Legal name

Manila Water Company, Inc.

Website

https://manilawater.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Manila Water is a publicly listed Philippine water utility operating the MWSS East Zone concession, providing water treatment, distribution, and wastewater services to over 7.9 million customers across 24 cities and municipalities in Metro Manila and Rizal Province.

Ownership category

akta.pro rank

Product category

Water Utility Services

NAICS

Water Supply and Irrigation Systems (22131), Sewage Treatment Facilities (22132), Water, Sewage and Other Systems (2213)

SIC

Water Supply (4941), Electric, Gas & Sanitary Services (4900), Sanitary Services (4950)

akta.pro primary industry

Customer Billing & Revenue Management (rate configuration, billing, adjustments, revenue assurance) (EUANAIAC)

akta.pro secondary industries

Water Resources Administration (Watersheds, Rivers, Groundwater) (BPAIAMAE), Domestic Hot & Cold Water System Hygiene (Potable Water) (BPABAJAD)

Keywords

• Water utility services
• Wastewater management
• Potable water distribution
• Sewerage services
• Water treatment

Headquarters

HQ city

Quezon City

HQ country

Philippines

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Others

Revenue model

1. Water Supply Services: Manila Water provides water treatment, water distribution, sewerage and sanitation services to residential, semi-business, commercial, and industrial customers in the East Zone under a concession agreement with MWSS and a 25-year franchise from the Philippine government.
2. Wastewater and Sanitation Services: Comprehensive wastewater management and sanitation services as part of the company's integrated water utility operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Manila Water Company, Inc. is a publicly listed water utility concessionaire that, under a concession agreement with MWSS and a 25-year legislative franchise, treats, distributes, and sells potable water and provides sewerage, wastewater, and sanitation services to over 7.9 million residential, semi-business, commercial, and industrial customers in the East Zone of Metro Manila and Rizal Province. Beyond the East Zone concession, the company operates domestic bulk water, distribution, and wastewater businesses through Manila Water Philippine Ventures and international water and management, operation, and maintenance contracts through Manila Water Asia Pacific in Vietnam, Thailand, Indonesia, and Saudi Arabia.

Product overview

Manila Water Company, Inc. is a publicly listed Philippine water utility providing a comprehensive water and environmental services platform. The company operates as a unified utility under a concession agreement with MWSS, serving the East Zone of Metro Manila and Rizal Province. The core portfolio consists of water supply services (delivering 24/7 potable water to over 7.9 million customers), wastewater and sanitation services, and various supporting sub-brands including Manila Water Philippine Ventures (domestic subsidiaries for bulk water, water distribution, and B2B services), Manila Water Asia Pacific (international operations in Vietnam, Thailand, Indonesia, and Saudi Arabia), WawaJVCo (Upper Wawa Dam water source), and Manila Water Infratech Solutions (technical and after-the-meter services). The company also provides a customer-facing mobile application and environmental advocacy programs including La Mesa Ecopark.

Differentiator

Problem solved

Functional benefit

Brands

• Estate Water: Operates and manages the water systems of townships developed by Ayala Land, Inc.

Products and services

• Water Supply Services Treats, distributes, and sells potable water on a 24/7 basis to over 7.9 million residential, semi-business, commercial, and industrial customers across 24 cities and municipalities in the East Zone of Metro Manila and Rizal Province under the MWSS concession.
• Wastewater and Sanitation Services Provides sewerage, wastewater management, and sanitation services to customers in the East Zone of Metro Manila and Rizal Province, including sewer collection, treatment, and disposal operations as part of Manila Water's integrated water utility mandate.
• Desludging Services Provides preventive septic tank desludging for residential and commercial customers in covered areas of the East Zone, removing accumulated sludge from septic tanks to prevent blockages, foul odors, and potential overflows, supporting proper wastewater treatment and environmental protection.
• Domestic Bulk Water Supply and Provincial Distribution Services (MWPV portfolio) Through Manila Water Philippine Ventures (MWPV), provides bulk water supply, water distribution, and wastewater services across multiple provincial franchises in the Philippines, including Boracay Island Water Company, Clark Water Corporation, Laguna AAAWater Corporation, Tagum Water Company, Metro Ilagan Water, Manila Water Consortium, and Davao del Norte Water Infrastructure Company.
• International Water Operations and Management Contracts (MWAP portfolio) Through Manila Water Asia Pacific (MWAP), delivers treated water to Saigon Water Corporation (SAWACO) under take-or-pay arrangements via Thu Duc Water B.O.O. Corporation and Kenh Dong Water Supply Joint Stock Company in Vietnam, holds a stake in Saigon Water Infrastructure Corporation, operates PT Sarana Tirta Ungaran in Indonesia, holds an associate interest in Eastern Water in Thailand, and manages the North West and Eastern Clusters of the National Water Company of Saudi Arabia via MOMC.

Quantifiable outcome

• Reduced non-revenue water from 63% to average of 13%
• +6 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• WawaJVCocoreOthersManila Water acquired WawaJVCo to take exclusive management of the Upper Wawa Dam, the largest water source development in the Philippines in five decades. The project can supply up to 710 million liters of water per day to benefit approximately 3.5 million Filipinos in the East Zone.
• Metropolitan Manila Development Authority (MMDA)minorStrategic or Co-development PartnerPartnership to distribute drinking water and reusable bottles to approximately 4,000 traffic enforcers during heat stroke break policy, supporting MMDA's initiatives during extreme weather conditions.
• Metropolitan Waterworks and Sewerage System (MWSS)coreOthersMWSS granted Manila Water the concession to provide water and wastewater services to the eastern side of Metro Manila. The original 25-year concession (to expire 2022) was extended by another 15 years to 2037.
• Saigon Water Corporation (SAWACO)minorStrategic or Co-development PartnerVietnam operations supplying treated water to Saigon Water Corporation (SAWACO) under a take-or-pay arrangement through affiliated companies Thu Duc Water B.O.O. Corporation and Kenh Dong Water Supply Joint Stock Company.
• National Water Company (NWC) of Saudi ArabiaminorStrategic or Co-development PartnerManagement, Operation and Maintenance Contracts (MOMC) for North West and Eastern Clusters of Saudi Arabia, undertaken through consortium of Manila Water with Saur SAS and Miahona Company over a seven-year contract period.
• Ayala Land, Inc.minorStrategic or Co-development PartnerEstate Water division operates and manages water systems of townships developed by Ayala Land, Inc. Beginning 2021, Estate Water also provides wastewater services to Ayala Malls.
• Eastern Water Resources Development and Management Public Company Limited (East Water)minorStrategic or Co-development PartnerAssociate company in Thailand, a fully integrated water supply and distribution company listed in the Stock Exchange of Thailand (SET).
• PT Sarana Tirta Ungaran (PT STU)minorStrategic or Co-development PartnerAssociate company in Indonesia, an industrial water supply operation.
• Saur SAS and Miahona CompanyminorStrategic or Co-development PartnerConsortium partners with Manila Water for Management, Operation and Maintenance Contracts (MOMC) with the National Water Company (NWC) of the Kingdom of Saudi Arabia.

Scale indicators7 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Essential Utilities (formerly Aqua America): US-based regulated water and natural gas utility with a growing footprint across multiple states. Comparable as a customer-billed, rate-regulated water utility with capital-intensive infrastructure investment programs.
• Veolia: Global environmental services and water utility operator with significant emerging-market concessions. Comparable to Manila Water in the regulated water utility and O&M contract segments, though with a much broader portfolio.
• Sabesp: Brazilian state-owned water and wastewater utility serving São Paulo. Comparable as a large-scale publicly listed regulated water utility in an emerging market with similar regulatory, tariff, and capex dynamics to Manila Water.
• American Water Works: Largest publicly traded US water and wastewater utility. Comparable to Manila Water as a regulated, customer-metered, rate-based water utility operator, though operating in a mature developed-market regulatory environment.
• Suez: Global water and waste management major with concession operations across emerging markets. Comparable as a large-scale water utility operator pursuing long-term PPP/utility contracts analogous to Manila Water's business model.
• Beijing Enterprises Water Group: Chinese water and environmental services company operating BOT/concession water projects across China and Southeast Asia. Comparable to Manila Water in the PPP/concession model for water supply and wastewater.

Direct peers

• Saur: French water utility operator that is Manila Water's consortium partner for the NWC Saudi Arabia MOMC contract. Saur focuses on water/wastewater concessions internationally and shares Manila Water's emerging-market PPP operating model.
• Maynilad Water Services: Concessionaire for the MWSS West Zone of Metro Manila. Most directly comparable peer to Manila Water, sharing the same concession framework, regulator, and customer base structure, but covering the opposite half of the metro.

Others

• Pennon Group: UK water utility holding company (South West Water). Comparable as a regulated water utility business model reference point, though operating in a mature UK regulatory environment rather than an emerging-market concession framework.

Regional players

• Metropolitan Cebu Water District: Government-owned water district serving Metro Cebu in the Visayas. Comparable as a Philippine water utility with similar regulatory exposure, but operates in a different geography under a different institutional structure (district vs. private concessionaire).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/manilawaterph
• Facebookfacebook.com/manilawater
• LinkedInlinkedin.com/company/manilawater

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Manila Water