Megaworld net income climbs 6% in Q1 2026

Listed property developer Megaworld Corporation reported a 6% increase in net income in the first quarter, driven by the continued performance of its core businesses.

Net income rose to P6.2 billion from P5.8 billion a year earlier, while consolidated revenues climbed to P21.6 billion from P20.9 billion.

Leasing revenues grew 6% to P5.6 billion, with lifestyle malls posting the fastest growth at 9% to P1.8 billion, supported by sustained consumer spending and tenant expansion. Office leasing revenues increased 4% to P3.8 billion.

Megaworld Hotels & Resorts recorded an 8% rise in revenues to P1.5 billion, reflecting higher room rates and increased demand for meetings, incentives, conferences, and exhibitions (MICE).

“Our first quarter results reflect the compounding strength of our recurring income base, as well as the company’s financial prudence in maintaining a healthy balance sheet amid geopolitical uncertainties weighing on global markets,” Megaworld chief executive officer Lourdes Gutierrez-Alfonso said in a regulatory filing.

“Financial discipline has always been at the center of Megaworld’s corporate governance,” she added.

Megaworld aims to reach 3 million square meters of gross leasable area (GLA) by 2030, comprising 2 million square meters of office space and 1 million square meters of retail space.

The company has earmarked P65 billion in capital expenditures this year, primarily for land acquisition, land banking, and the development of existing projects, as it plans to launch 19 residential developments.

Megaworld’s portfolio includes residential condominiums, subdivision lots, and townhouses, as well as office and retail developments. Its core businesses cover real estate sales, office leasing, and hotel operations.

Its subsidiaries include Richmonde Hotel Group International Limited, Eastwood Cyber One Corp., Empire East Land Holdings Inc., Global-Estate Resorts Inc., and Bonifacio West Development Corp.—MCG, GMA News