Megaworld Q1 Profit Rises 6% to ₱6.2-B on Strong Leasing, Hotel Growth

Megaworld Corporation reported a 6% increase in net income to ₱6.2 billion in the first quarter of 2026, up from ₱5.8 billion a year earlier, as growth across its leasing, hotel, and residential segments sustained momentum following its record performance in 2025.

Megaworld has reported steady first-quarter growth. (Photo: Megaworld Lifestyle Malls)

Consolidated revenues reached ₱21.6 billion, slightly higher than ₱20.9 billion in the same period last year, with all core segments posting year-on-year and sequential growth.

Leasing revenues rose 6% to ₱5.6 billion, led by Megaworld Lifestyle Malls, which recorded a 9% increase to ₱1.8 billion.

Growth was driven by strong consumer spending and tenant expansion, with more than 12,000 square meters of new store openings during the quarter.

Meanwhile, revenues from Megaworld Premier Offices grew 4% to ₱3.8 billion, supported by continued demand from BPO firms and multinational companies. The company transacted over 95,000 square meters of office space during the period, including around 28,000 square meters in new leases.

Nearly 80% of office leases due for renewal this year had already been secured as of the first quarter.

The hospitality segment, Megaworld Hotels & Resorts, posted an 8% increase in revenues to ₱1.5 billion, driven by higher room rates and increased meetings, incentives, conferences, and exhibitions (MICE) activity.

During the quarter, the company inaugurated the Mactan Expo, its first standalone convention center located within The Mactan Newtown.

The facility, opened by Ferdinand R. Marcos Jr., can accommodate up to 3,000 delegates and marks the company’s formal entry into the MICE sector.

Megaworld also announced that the Grand Westside Hotel will be rebranded as the Mövenpick Manila Bay Westside Hotel, which it said will become the largest Mövenpick property globally.

Real estate sales remained steady at ₱13.3 billion year-on-year but increased 15% compared to the fourth quarter of 2025. Key contributors included developments in Uptown Bonifacio, McKinley West, Westside City, and ArcoVia City.

“Our first-quarter results reflect the strength of our recurring income base and our financial discipline amid global uncertainties,” said Lourdes Gutierrez-Alfonso.

She added that Megaworld’s township model continues to drive growth by integrating residential, commercial, and lifestyle components, with increasing contributions from provincial developments.

At the start of the year, Megaworld launched its 37th township, The Sugartown, a 97-hectare mixed-use development along the Bacolod–Silay Airport Road. It marks the company’s third township in the Negros Island Region.

Megaworld is targeting a total of 3 million square meters of gross leasable area (GLA) by 2030, including 2 million square meters for office and 1 million square meters for retail.