Property developer Megaworld Corporation has demonstrated robust financial performance during the first nine months of 2025, recording a significant 14 percent increase in net income that reached nearly P18 billion.
Strong Financial Performance Across Core Businesses
The impressive growth was primarily driven by the solid performance of Megaworld's core business segments, including mall and office leasing operations, residential sales, and hotel operations. Consolidated revenues for the period showed healthy growth, increasing by 8 percent to reach P64.41 billion.
Leasing revenues emerged as a standout performer, climbing 15 percent to P16.24 billion compared to the same period last year. The company's office division, Megaworld Premier Offices, led this expansion with revenues surging to P11.14 billion, representing approximately 16 percent year-on-year growth.
Office and Mall Leasing Drive Growth
The substantial growth in office leasing was fueled by multiple factors including sustained rental escalations, lease renewals, and new commitments from both expanding BPO companies and traditional multinational corporations. During the nine-month period, Megaworld secured nearly 140,000 square meters in new office leases and approximately 120,000 square meters in renewals.
This performance underscores the strong market preference for strategically located office spaces within integrated townships that offer enhanced convenience, accessibility, and opportunities for work-life integration.
Meanwhile, Megaworld Lifestyle Malls generated P5.10 billion in mall leasing revenues, marking a 13 percent increase from the previous year. This growth was supported by rising foot traffic and consumer spending across key mall developments, along with sustained retail momentum and continued tenant expansion particularly in food, fashion, and home categories.
The company opened and expanded new store spaces catering to international and lifestyle brands in several prominent locations including Uptown Bonifacio, ArcoVia City, Eastwood City, and Lucky Chinatown.
Hotel and Residential Segments Show Strength
Hotel operations under Megaworld Hotels & Resorts recorded P4.13 billion in revenues, achieving a 13 percent year-on-year increase. The segment benefited from higher room rates, increased business and leisure travel, and additional room inventory from newly opened hotels such as the Grand Westside Hotel, which holds the distinction of being the country's largest hotel in terms of room count.
Real estate sales maintained steady growth, rising 6 percent to P40.24 billion, supported by stable sales take-up and continued construction progress across multiple residential developments in Metro Manila and provincial areas. Among the strongest contributors were residential projects in Uptown Bonifacio, ArcoVia City, Maple Grove in Cavite, and The Upper East in Bacolod.
Lourdes Gutierrez-Alfonso, President of Megaworld Corporation, commented on the results: "Our year-to-date performance continues to reflect the strength of our recurring income portfolio and the sustained demand across our residential and hotel offerings. Even as we navigate mixed market conditions, we remain focused on delivering long-term value through innovation, operational efficiency, and township-led growth."
Strategic Initiatives and Future Outlook
The company marked several strategic milestones during the period, including its entry into the ultra-luxury residential market with the launch of the Megaworld Luxe Collection. In September, Megaworld declared a cash dividend of approximately P0.094 per share, reinforcing its commitment to shareholder returns.
Additionally, the company initiated a share buyback program in August 2025 to repurchase up to P2.0-billion worth of its outstanding shares. These capital return initiatives reflect Megaworld's strong cash position and confidence in its long-term growth strategy.
Currently, Megaworld maintains 36 township developments nationwide with a land bank covering approximately 7,000 hectares. Before the year concludes, the company is expected to launch another new township development outside Metro Manila as part of its continued provincial expansion.
Looking further ahead, Megaworld has set ambitious targets to grow its office gross leasable area to two million square meters and its retail GLA to one million square meters by 2030. These targets would bring the company's total leasing portfolio GLA to three million square meters within the next five years.
Megaworld remains one of the Philippines' largest real estate companies, with total assets reaching around half a trillion pesos as of end-September 2025, reflecting the strength of its balance sheet and continued investment in high-value developments.
