Stronger hotel, mall, and office leasing revenues lifted Megaworld Corp.’s net income by 6 percent to P19 billion in the first nine months of 2026, cushioning modest growth in residential sales and consolidated revenues.
Consolidated revenues increased 3 percent year on year to P66.5 billion, supported by recurring income businesses and steady residential sales bookings.
Hospitality remained the fastest-growing recurring income segment, with hotel revenues rising 12 percent to P4.6 billion. Megaworld Lifestyle Malls posted a 9 percent increase in rental revenues to P5.5 billion, benefiting from 95 percent occupancy and a 10 percent rise in average daily tenant sales.
The mall portfolio added nearly 36,000 square meters of new store openings during the period, expanding its mix of food, fashion, and leisure offerings.
Office rental revenues grew 7 percent to P11.9 billion, driven by demand from global capability centers. Megaworld secured lease renewals covering about 90 percent of office contracts due to expire in 2026, providing greater visibility over recurring income.
Among recent transactions, French financial institution BNP Paribas selected Megaworld’s Uptown Eastgate in Uptown Bonifacio for a delivery center supporting its global Corporate and Institutional Banking operations.
Residential pre-sales rose 9 percent to P96.6 billion, equivalent to more than 77 percent of Megaworld’s P125-billion full-year target. Provincial developments accounted for nearly half of sales, suggesting that demand for township communities remains resilient beyond Metro Manila.
Real estate sales bookings reached P40.6 billion, supported by construction progress across ongoing projects.
Megaworld ended September with a net debt-to-equity ratio of 0.24 times, giving it financial flexibility to fund developments while managing its balance sheet.
President and CEO Lourdes T. Gutierrez-Alfonso said the results reflected the resilience of the township model, while stressing the importance of financial discipline amid property market and macroeconomic headwinds.
The company is targeting three million square meters of combined office and retail gross leasable area by 2030, comprising two million square meters of office space and one million square meters of retail space.
The expansion will test Megaworld’s ability to sustain leasing growth as it balances development spending, property demand, and the need to preserve liquidity.
