Property giant Megaworld Corp. posted a strong start to 2025, reporting a 15 percent year-on-year rise in first-quarter net income to P5.09 billion, up from P4.4 billion in the same period last year, driven by across-the-board gains in its core business segments.
The company, the property development arm of billionaire Andrew Tan’s Alliance Global Group Inc. (AGI), said consolidated revenue rose 11 percent to P20.93 billion, with all core segments—residential, office, malls, and hotels—showing growth.
“This strong start to the year is a reflection of our clear strategy and the strength of our diversified portfolio,” said Lourdes Gutierrez-Alfonso, Megaworld president, highlighting the company’s township model and regional expansion as key drivers.
Real estate sales increased 8 percent to P13.09 billion, buoyed by robust demand in Metro Manila and emerging provincial hubs. Leasing revenue climbed 15 percent to P5.34 billion, as demand surged from high-value tenants, particularly in the BPO, multinational, and lifestyle sectors. The office segment alone saw a 17 percent increase in revenues to P3.69 billion, with over 50,000 sqm in new leases—its highest quarterly take-up in five years.
Meanwhile, mall revenues rose 11 percent to P1.66 billion, with foot traffic exceeding pre-pandemic levels and 13,000 sqm of new tenant openings. The hotel and resorts business was the fastest-growing segment, with a 27 percent jump in revenue to P1.43 billion, driven by higher room rates and a suite of experiential promotions.
The performance highlights Megaworld’s role as a bellwether in the real estate sector, particularly as it capitalizes on mixed-use township developments, over half of which are outside Metro Manila.
In a related development, parent firm AGI announced plans to raise P26.64 billion via a warrant offering, covering 2.22 billion common shares at a minimum price of P12 each. Proceeds will fund capital expenditures, debt repayment, and other corporate initiatives, the group said.
