Megaworld, the country’s pioneer in township developments, kicked off 2025 with a robust performance, posting a 16% year-on-year growth in net income to P5.83 billion in the first quarter.
Consolidated revenues expanded by 11% to P20.93 billion, driven by solid contributions from all of the company’s core businesses: residential, leasing, and hotel operations.
“This strong start to the year is a reflection of our clear strategy and the strength of our diversified portfolio. 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,” says Lourdes Gutierrez-Alfonso, president, Megaworld Corporation.
“Megaworld remains to be the top contributor to the revenue pie of the Alliance Global Group. 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. At the same time, the LIVE-WORK-PLAY concept that Megaworld pioneered in the Philippines has been a proven model of sustainability through the years,” says Kevin L. Tan, president and CEO, Alliance Global Group, the parent company of Megaworld.
Revenues from real estate sales grew 8% year-on-year to P13.09 billion, as strong sales of projects in both Metro Manila and key growth centers in the provinces continued to reflect healthy demand. The company, likewise, maintained solid construction progress across multiple developments, allowing steady recognition of revenues in the quarter.
Leasing revenues also climbed 15% to P5.34 billion, driven by sustained demand from high-value tenants and the synergy between Megaworld’s office and retail ecosystems. The company continues to attract and retain industry leaders across BPO, multinationals, and lifestyle sectors, reflecting the strength of its township model in fostering productivity, convenience, and a curated experience for both businesses and consumers.
Megaworld Premier Offices posted a 17% increase in revenues to P3.69 billion, supported by new lease signings and expansion from existing tenants. The company secured over 50,000 square meters of new office leases during the quarter, the highest quarterly total in five years. These include both expansions and new tenants from top-tier BPOs and multinational companies.
Megaworld Lifestyle Malls, on the other hand, saw revenues rise by 11% to P1.66 billion, driven by rising foot traffic—which has already surpassed pre-pandemic 2019 levels—continued momentum in consumer spending, and over 13,000 square meters of new tenant openings during the quarter.
Megaworld Hotels & Resorts, meanwhile, achieved the fastest growth among all business units, with revenues soaring 27% year-on-year to P1.43 billion. The segment benefited from higher room rates, bolstered by a range of curated hotel stay packages and experiential promotions and event that attracted both business and leisure travelers.
Megaworld remains to be one of the largest real estate companies in the country, with total assets amounting to almost half a trillion pesos as of end-March 2025. This reflects the strength of its balance sheet and the company’s continued investment in high-value developments.
The company now has 35 townships across the country, backed by a robust land bank of around 7,000 hectares. Megaworld is on track to launch more township developments this year as part of its continued expansion to the provinces.
The company also targets to grow its office gross leasable area (GLA) to two million square meters by 2030, and its retail GLA to one million square meters by 2030.
These targets will bring Megaworld’s total leasing portfolio GLA to three million square meters by 2030.