Megaworld Corp., the listed property development arm of billionaire Andrew Tan, reported a 14 percent increase in net income to nearly P18 billion for the first nine months, driven by the robust performance of its mall and office leasing, residential developments, and hotels.
Consolidated revenues climbed 8 percent to P64.41 billion, underscoring broad-based growth across its property segments.
Leasing revenues surged 15 percent to P16.24 billion, led by Megaworld Premier Offices, which grew 16 percent year-on-year to P11.14 billion. The office segment’s strength was fueled by sustained rental escalations, renewals, and new leases from expanding BPO firms and multinational companies. Megaworld closed nearly 140,000 square meters in new office leases and 120,000 square meters in renewals, highlighting the continued demand for well-located office spaces in integrated townships.
Megaworld Lifestyle Malls generated P5.10 billion in mall leasing revenues, up 13 percent from last year, as foot traffic and consumer spending strengthened across its key developments. The company opened and expanded new store spaces catering to international and lifestyle brands in Uptown Bonifacio, ArcoVia City, Eastwood City, and Lucky Chinatown.
Hotel operations under Megaworld Hotels & Resorts rose 13 percent to P4.13 billion, supported by higher room rates, increased travel demand, and new hotel openings such as the Grand Westside Hotel, now the country’s largest by room count.
Real estate sales grew 6 percent to P40.24 billion, backed by steady sales and construction progress in projects located in Uptown Bonifacio, ArcoVia City, Maple Grove in Cavite, and The Upper East in Bacolod.
“Our year-to-date performance reflects the strength of our recurring income portfolio and sustained demand across residential and hotel segments,” said Lourdes Gutierrez-Alfonso, Megaworld president. She added that the company remains focused on “long-term value creation through innovation and township-led growth.”
During the period, Megaworld launched the Megaworld Luxe Collection, marking its entry into the ultra-luxury residential market. It also declared a P0.094 per share cash dividend and initiated a P2-billion share buyback program, reflecting confidence in its long-term growth and strong cash position.
Megaworld currently has 36 township developments across the Philippines, covering around 7,000 hectares, and plans to launch another township before year-end while expanding its office GLA to two million square meters and retail GLA to one million square meters.
