LISTED property developer Megaworld Corp. reported a 3.88% increase in attributable net income to P5.29 billion for the primary quarter (Q1), as consolidated revenues rose to P21.6 billion and all core segments posted growth in the course of the period.
In a disclosure on Monday, the corporate said net income for the January-to-March period rose 6% to P6.18 billion from P5.83 billion a 12 months earlier.
Consolidated revenues increased barely from P20.9 billion in the identical period last 12 months, with growth recorded across its leasing, hotel, and residential segments on each a year-on-year and sequential basis.
Leasing revenues grew 6% to P5.6 billion, driven by Megaworld Lifestyle Malls, which posted a 9% increase to P1.8 billion on regular consumer spending and tenant expansion.
The corporate said greater than 12,000 square meters (sq.m.) of latest stores opened across its developments in the course of the quarter.
Megaworld Premier Offices recorded a 4% increase in revenues to P3.8 billion, supported by regular leasing activity from business process outsourcing firms and multinational corporations.
The corporate leased over 95,000 sq.m. of office space in the course of the quarter, including about 28,000 sq.m. of latest leases, while nearly 80% of leases due for renewal this 12 months had already been secured as of the period.
Megaworld Hotels & Resorts posted an 8% increase in revenues to P1.5 billion, supported by higher room rates and increased meetings, incentives, conferences, and exhibitions (MICE) activity.
Earlier this 12 months, the corporate launched the P1.5-billion Mactan Expo, a standalone convention center that marks its entry into the MICE segment.
Real estate sales stood at P13.3 billion in the primary quarter, unchanged from a 12 months earlier but 15% higher than the fourth quarter of 2025, as construction activity and revenue recognition continued across residential projects in Metro Manila and provincial growth areas.
Projects in Uptown Bonifacio, McKinley West, Westside City, and ArcoVia City were among the many fundamental contributors.
“Our first quarter results reflect the compounding strength of our recurring income base in addition to the corporate’s financial prudence to make sure a healthy balance sheet amid geopolitical uncertainties that proceed to weigh on global markets. Financial discipline has all the time been at the middle of Megaworld’s corporate governance through the years,” Megaworld President and Chief Executive Officer Lourdes Gutierrez-Alfonso said.
“Our township model is delivering exactly as intended. Anchored in domestic demand and long-term lease contracts, our townships bring residents, employees, and visitors right into a self-reinforcing community where every component supports the others. Our deliberate pivot toward provincial expansion is now bearing fruit, with our townships in Visayas, Mindanao, and key Luzon corridors emerging as a few of our strongest and most resilient growth centers today,” she added.
Megaworld is targeting two million sq.m. of office gross leasable area (GLA) and a million sq.m. of retail GLA by 2030, bringing total leasing GLA to 3 million sq.m.
In the beginning of the 12 months, the corporate launched its 37th township, The Sugartown, a 97-hectare mixed-use development in Talisay City, Negros Occidental.
Situated along the Bacolod-Silay Airport Road, the event is meant for residential, business, and tourism uses.
In the approaching months, Grand Westside Hotel can be renamed Mövenpick Manila Bay Westside Hotel, which the corporate said can be the biggest Mövenpick property globally.
On the local bourse on Monday, Megaworld shares rose 0.48% to P2.09 each. — Alexandria Grace C. Magno