As broad-based growth across leasing, hotels, and residential kept the company on track.
Property giant Megaworld Corporation reported that its net income in the first quarter of the year went up by 6% to PHP6.2 billion, which is PHP400 million higher from its recorded P5.8 billion income during the same period last year.
The group noted that consolidated revenues were steady at PHP21.6 billion, even slightly higher from PHP20.9 billion a year ago—noting positive growth in every core segmen, both on a year-on-year and sequential basis.
Leasing revenues grew 6% to PHP5.6 billion year-on-year, with Megaworld Lifestyle Malls delivering the fastest growth during the quarter.
Its revenues climbed 9% year-on-year to PHP1.8 billion, driven by sustained consumer spending and continued tenant expansion, with over 12,000 square meters of new store openings across its developments during the period.
“The sustained momentum across food, fashion, home, and experiential retail underscores the enduring appeal of Megaworld’s township-integrated retail destinations,” noted the property giant.
Meanwhile, revenues of its Megaworld Premier Offices grew 4% year-on-year to PHP3.8 billion, which it attributed to the strong leasing activity and continued take-up from BPO firms and multinational companies.
The company transacted over 95,000 square meters of office space in the first quarter, of which around 28,000 square meters were new leases—whcih the company stated as a demonstration of demand for Megaworld’s township-embedded offices being active beyond the existing tenant base.
Almost 80% of office leases due for renewal this year had already been secured as of the first quarter, reinforcing the stickiness of the company’s office portfolio.
Together, these metrics reinforce Megaworld Offices’ standing as the country’s leading office landlord, it added.
Megaworld will also pursue its long-term leasing expansion strategy, targeting two million square meters of office gross leasable area (GLA) and one million square meters of retail GLA by 2030, bringing total leasing GLA to three million square meters.
As regards to the Megaworld Hotels & Resorts, the revenues rose 8% to PHP 1.5Vbillion during the quarter, reflecting higher room rates and higher MICE activities across its portfolio.
Included in that segmen is the Mactan Expo in Lapu-Lapu City, which opened last January as Megaworld’s first standalone convention center that has close access to the beach inside the 30-hectare.
This was officially opened by no less than President Ferdinand Marcos, Jr. in March and costs PHP1.5 billion convention facility accommodates up to 3,000 delegates and marks Megaworld’s formal entry into the MICE sector.
Additionally, in the next few months, Grand Westside Hotel, the country’s largest hotel by room count, will be transformed and renamed into Mövenpick Manila Bay Westside Hotel, which will become the world’s largest Mövenpick Hotel property.
Meanwhile, real estate sales were also steady at P13.3 billion in the first quarter compared to the same period last year, but grew 15% compared to the fourth quarter of 2025 as construction progress and revenue recognition continued to build across key residential developments in Metro Manila and provincial growth markets.
Among the biggest contributors during the period were projects in Uptown Bonifacio, McKinley West, Westside City, and ArcoVia City.
Lourdes Gutierrez-Alfonso, president and CEO, Megaworld, noted: “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,” adding that financial discipline has always been at the center of Megaworld’s corporate governance through the years.
At the start of the year, Megaworld expanded its nationwide footprint with the launch of its 37th township, The Sugartown, a 97-hectare mixed-use development in Talisay City, Negros Occidental.
Designed as a residential, commercial, and tourism hub along the Bacolod–Silay Airport Road, The Sugartown is Megaworld’s third township in the Negros Island Region and reinforces the company’s continued push into high-growth provincial markets.
“Our township model is delivering exactly as intended,” added Gutierrez. “Anchored in domestic demand and long-term lease contracts, our townships bring residents, workers, and visitors into a self-reinforcing community where every component supports the others.
The company officer also said that their “deliberate pivot” toward provincial expansion is also now bearing fruit, with its townships in Visayas, Mindanao, and key Luzon corridors emerging as “some of our strongest and most resilient growth centers today.”