Megaworld posts ?5.83 billion net income in first quarter

MANILA, Philippines —  Property developer Megaworld Corporation opened the year with strong results, reporting a 16 percent year-on-year increase in net income to ?5.83 billion in the first quarter.

Total revenues rose 11 percent to ?20.93 billion, supported by gains across its key business segments: real estate sales, leasing, and hospitality.

“This strong start reflects the strength of our business model and the opportunities we’re seeing especially outside Metro Manila,” said Lourdes Gutierrez-Alfonso, president of Megaworld.  “All core sectors — residential, offices, malls, and hotels — posted growth.”

Megaworld, the pioneer of the township model in the Philippines, now has 35 integrated developments nationwide. Over half of these are located in the provinces, underscoring the company’s strategy to tap fast-growing regional markets.

Residential and leasing units show resilience

Real estate sales rose 8 percent to ?13.09 billion, with strong take-up of projects both in Metro Manila and in key provincial cities. The company maintained construction momentum across developments, allowing steady revenue recognition.

Leasing revenues climbed 15 percent to ?5.34 billion, driven by consistent demand from high-value tenants in both office and retail spaces.

The synergy within Megaworld’s township ecosystems continues to attract BPOs, multinationals, and lifestyle brands, reinforcing the benefits of the company’s “Live-Work-Play” strategy.

Megaworld Premier Offices recorded a 17 percent increase in revenue to ?3.69 billion, with over 50,000 sqm of new office leases signed in the quarter — the highest in five years. These include expansions from existing tenants and new deals with leading global outsourcing firms.

Megaworld Lifestyle Malls also grew 11 percent to ?1.66 billion, benefiting from a surge in foot traffic that has now exceeded pre-pandemic levels. Over 13,000 sqm of new retail space was opened during the quarter.

The hospitality segment delivered the fastest growth, with Megaworld Hotels & Resorts posting a 27% revenue jump to ?1.43 billion. This was driven by higher room rates, experiential travel offerings, and strong demand from both business and leisure travelers.

Expansion targets in place

Megaworld remains one of the largest property firms in the Philippines, with ?500 billion in total assets as of March 2025. Its land bank spans around 7,000 hectares, providing room for further growth.

The company plans to increase its office gross leasable area (GLA) to two million square meters and retail GLA to one million square meters by 2030. This will bring the total leasing portfolio to three million square meters, positioning Megaworld to capture rising demand in the country’s urban centers.

“Megaworld remains the biggest contributor to Alliance Global Group’s earnings,” said Kevin Tan, president and CEO of parent company Alliance Global.

“These results show the long-term value of the township model — built not just on property, but on the connections and experiences that bring communities to life,” Tan added.