Property giant Megaworld Corporation posted a 6 percent rise in net income in the first quarter of 2026, reaching P6.2 billion from P5.8 billion a year earlier, supported by steady gains across its leasing, hotel, and residential businesses.
Revenues were broadly stable at P21.6 billion versus P20.9 billion last year, but management pointed to a more important signal beneath the surface: all core segments grew both year-on-year and sequentially, suggesting resilience in its township-led model despite a cautious macroeconomic backdrop.
Leasing remained a key engine, with revenues up 6 percent to P5.6 billion. The strongest momentum came from Megaworld Lifestyle Malls, which grew 9 percent to P1.8 billion, driven by tenant expansion and sustained consumer spending. More than 12,000 square meters of new retail space were opened during the quarter, reflecting continued demand for experiential retail within township developments.
Office leasing also held firm. Megaworld Premier Offices posted a 4 percent increase to P3.8 billion, supported by steady demand from BPOs and multinational firms. The company leased over 95,000 square meters during the quarter, including 28,000 square meters of new contracts, while nearly 80 percent of expiring leases had already been renewed, reinforcing portfolio stability.
Hotel and resort revenues rose 8 percent to P1.5 billion, boosted by higher room rates and MICE activity. The quarter also marked the opening of the Mactan Expo in Cebu, officially inaugurated by President Ferdinand R. Marcos Jr., adding a major convention asset to Megaworld’s tourism-linked portfolio.
Real estate sales were flat year-on-year at P13.3 billion but improved 15 percent quarter-on-quarter, reflecting steady construction progress across key projects in Bonifacio Global City, McKinley West, Westside City, and ArcoVia City.
“Our first quarter results reflect the compounding strength of our recurring income base as well as the company’s financial prudence to ensure a healthy balance sheet amid geopolitical uncertainties that continue to weigh on global markets,” said Lourdes Gutierrez-Alfonso.
She added that the township strategy is delivering as intended, with provincial expansion gaining traction in Visayas, Mindanao, and key Luzon corridors.
Megaworld also launched its 37th township, The Sugartown in Negros Occidental, reinforcing its push into high-growth provincial markets as it targets 3 million square meters of leasing GLA by 2030.
