Property giant Megaworld grew its net income in the first quarter of the year by 6% to P6.2-billion from P5.8-billion last year as broad-based growth across leasing, hotels, and residential kept the company on track following its record full-year performance in 2025.

 

Consolidated revenues were steady at P21.6-billion, slightly higher from P20.9-billion a year ago, with every core segment delivering positive growth, both year-on-year and sequentially.

 

Leasing revenues grew 6% to P5.6-billion year-on-year, with Megaworld Lifestyle Malls delivering the fastest growth during the quarter. Its revenues climbed 9% year-on-year to P1.8-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.

 

Revenues of Megaworld Premier Offices, meanwhile, grew 4% year-on-year to P3.8-billion, underpinned by 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, demonstrating that demand for Megaworld's township-embedded offices remains 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.

 

Revenues of Megaworld Hotels & Resorts, likewise, rose 8% to P1.5-billion during the quarter, reflecting higher room rates and higher MICE activities across its portfolio. The quarter also marked the inauguration of Mactan Expo, Megaworld's first standalone convention center that has close access to the beach inside the 30-hectare The Mactan Newtown in Lapu-Lapu City, Cebu. This was officially opened by no less than President Ferdinand R. Marcos, Jr. in March. The P1.5-billion convention facility accommodates up to 3,000 delegates and marks Megaworld's formal entry into the MICE sector.

 

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 was steady at P13.3-billion in the first quarter compared to the same period last year, although it 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.

 

“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. Financial discipline has always been at the center of Megaworld’s corporate governance through the years,” says Lourdes Gutierrez-Alfonso, president and CEO, Megaworld. 

 

"Our township model is delivering exactly as intended. 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. Our deliberate pivot toward provincial expansion is now bearing fruit, with our townships in Visayas, Mindanao, and key Luzon corridors emerging as some of our strongest and most resilient growth centers today," she adds.

 

During 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.

 

Megaworld continues to 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.