Shang Properties posts double-digit income drop in Q1

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May 15, 2026 | 12:00am

MANILA, Philippines —  Luxury real estate developer Shang Properties registered a double-digit drop in its earnings in the first quarter of the year.

Shang Properties’ net income from January to March fell by 12 percent to P884 million from P1 billion in the same period last year.

The decline was attributed to lower joint venture income following the completion of the Aurelia Residences project in the fourth quarter of 2025.

Revenues, however, rose by 13 percent to P3.19 billion from P2.82 billion on the back of higher residential sales and improved performance of leasing and hotel operations.

Property development revenues stood at P1.02 billion, while leasing operations generated P900 million. Hotel operations contributed P1.27 billion in revenues for the period.

Shang Properties said it remains cautiously optimistic about sustaining its growth trajectory for the rest of 2026, supported by a strong pipeline of residential developments, stable recurring income from leasing and continued recovery in the hospitality sector.

“The company has considered recent political and economic developments, both locally and globally, that could affect the industry and its operation, and has factored these considerations into its operating plans,” it said.

Shang Properties said it continues to adopt prudent risk management measures, including closely monitoring interest rate movements, managing cost pressures and maintaining optimal capital structure to mitigate potential headwinds and support sustainable growth.