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Buoyed by the solid performance of its core businesses, top township developer Megaworld Corp. saw its nine-month net income surge 14 percent to nearly ₱18 billion, from the ₱15.7 billion recorded in the same period last year.
The firm said in a disclosure to the Philippine Stock Exchange that the strength of its mall
and office leasing, residential, as well as hotel business, boosted consolidated revenues by eight percent to ₱64.41 billion from ₱59.78 billion in the first nine months of 2024.
“Our year-to-date performance continues to reflect the strength of our recurring income portfolio and the sustained demand across our residential and hotel offerings,” said Megaworld President Lourdes Gutierrez-Alfonso.
She noted that, “Even as we navigate mixed market conditions, we remain focused on delivering long-term value through innovation, operational efficiency, and township-led growth.”
Leasing revenues reached ₱16.24 billion, growing 15 percent from the same period last year. This was led by Megaworld Premier Offices, which continued to outperform the industry, as its revenues climbed to ₱11.14 billion, reflecting a growth of 16 percent year-on-year.
The growth in the office leasing business was fueled by sustained rental escalations, renewals, and new take-ups from expanding business process outsourcing firms, as well as traditional multinational companies.
During the period, Megaworld closed nearly 140,000 square meters in new office leases and almost 120,000 square meters in renewals, reaffirming the strong preference for strategically located office spaces within integrated townships that offer better convenience, accessibility, and work-life integration.
Megaworld Lifestyle Malls, meanwhile, generated ₱5.10 billion in mall leasing revenues, up 13 percent from a year ago, as foot traffic and consumer spending continued to grow across key mall developments.
This performance was supported by the sustained momentum in retail activities and continued tenant expansion, particularly in food, fashion, and home categories.
Over the nine-month period, Megaworld opened and expanded new store spaces that cater to some key international and lifestyle brands, particularly in Uptown Bonifacio, ArcoVia City, Eastwood City, and even in Lucky Chinatown.
Hotel operations under Megaworld Hotels & Resorts, on the other hand, recorded ₱4.13 billion in revenues, marking a 13 percent increase year-on-year.
The segment continued to benefit from higher room rates, increased business and leisure travel, and the additional room inventory from newly opened hotels, such as Grand Westside Hotel, the country’s biggest hotel in terms of room keys.
Meanwhile, real estate sales improved six percent to ₱40.24 billion, supported by stable sales take-up and continued construction progress across multiple residential developments in Metro Manila and the provinces.
Among the strongest contributors during the period were the residential projects in Uptown Bonifacio, ArcoVia City, Maple Grove in Cavite, and The Upper East in Bacolod.
Currently, Megaworld has 36 township developments nationwide and a land bank spanning approximately 7,000 hectares.
Before the year ends, Megaworld is expected to launch another new township development outside of Metro Manila as part of its continued expansion in the provinces.
The company also targets to grow its office gross leasable area (GLA) to two million square meters and its retail GLA to one million square meters by 2030. These targets will bring Megaworld’s total leasing portfolio GLA to three million square meters in the next five years.
Megaworld remains one of the largest real estate companies in the Philippines, with total assets now reaching around half a trillion pesos as of end-September 2025.
