Megaworld, the country’s pioneer in township developments, began 2025 with a strong performance, posting a 16% year-on-year increase in net income to PHP5.83 billion in the first quarter.
Consolidated revenues rose 11% to PHP20.93 billion, driven by solid contributions from residential, leasing and hotel operations.
“This strong start to the year reflects our clear strategy and the strength of our diversified portfolio,” said Lourdes Gutierrez-Alfonso, president of Megaworld Corp.
“All of our core businesses—residential, office, malls and hotels—grew during the first quarter. More than half of our township developments are in the provinces, and the opportunity for expansion and growth is there,” she added.
“Megaworld remains the top contributor to the revenue pie of Alliance Global Group,” said Kevin L. Tan, president and CEO of Alliance Global Group, the parent firm of Megaworld.
“This quarter’s results affirm the strength of the company’s township model, which thrives because of the unique connections it fosters between people, businesses and experiences,” he said.
He added that the LIVE-WORK-PLAY concept Megaworld pioneered in the Philippines has proven sustainable through the years.
Revenues from real estate sales grew 8% year-on-year to PHP13.09 billion, supported by strong sales in Metro Manila and key provincial growth centers.
The company also reported solid construction progress across multiple developments, enabling steady revenue recognition during the quarter.
Leasing revenues rose 15% to PHP5.34 billion, driven by sustained demand from high-value tenants and synergy across Megaworld’s office and retail ecosystems.
The company continued to attract and retain top players in the BPO, multinational and lifestyle sectors, reflecting the appeal of its township model for productivity and convenience.
Megaworld Premier Offices posted a 17% rise in revenues to PHP3.69 billion, supported by new leases and expansions from existing tenants.
The company secured more than 50,000 square meters of new office leases during the quarter, its highest quarterly total in five years.
These include both expansions and new signings from top-tier BPOs and multinational firms.
Megaworld Lifestyle Malls posted an 11% increase in revenues to PHP1.66 billion, lifted by rising foot traffic, strong consumer spending and more than 13,000 square meters of new tenant openings.
Megaworld Hotels & Resorts delivered the fastest growth, with revenues soaring 27% year-on-year to PHP1.43 billion.
The segment benefited from higher room rates, curated hotel packages and events that drew both business and leisure travelers.
Megaworld remains one of the country’s largest real estate firms, with total assets nearing PHP500 billion as of end-March 2025.
This reflects a strong balance sheet and continued investment in high-value developments.
The company now operates 35 townships nationwide, supported by a land bank of about 7,000 hectares.
Megaworld is on track to launch more township projects this year as it expands further into the provinces.
It also aims to grow its office gross leasable area to 2 million square meters and retail GLA to 1 million square meters by 2030.
These targets will raise the company’s total leasing portfolio to 3 million square meters by the end of the decade.
