Property giant Megaworld Corporation announced a significant acceleration in its growth momentum, with first-half and second-quarter earnings soaring to historic levels, affirming the robust performance of its diversified township strategy.
For the first half of 2025, Megaworld’s net income grew by a remarkable 23% year-on-year to P12.09 billion. This impressive performance was further underscored by a 31% increase in second-quarter earnings, reaching P6.26 billion compared to the same period last year. Consolidated revenues for the first half climbed 10% to P43.09 billion, with the second quarter also registering a 10% increase year-on-year.
“Our strong first half and second quarter results reaffirm the strength and adaptability of our township strategy,” stated Lourdes Gutierrez-Alfonso, President and CEO of Megaworld Corporation. “We are always focused on ensuring that our core segments will continue to deliver exceptional performance even in challenging environments.”
Robust Growth Across All Core Businesses
All of the company’s core businesses—residential, leasing, and hospitality—registered significant growth for both the first half and the second quarter of 2025.
Leasing Business Continues to Drive Growth: Megaworld’s leasing business remains a key growth driver. Megaworld Premier Offices saw revenues surge by 17% to P7.40 billion in the first half of the year, with an almost 18% growth to P3.7 billion during the second quarter. This growth was propelled by contributions from new assets, sustained rent escalations, and the closure of nearly 100,000 square meters in new leases during the quarter. This was largely driven by expansions from top-tier BPOs and multinational companies, including many Fortune 500 companies located in key townships, demonstrating Megaworld’s differentiated office footprint continues to outperform amidst industry-wide headwinds.
Megaworld Lifestyle Malls also experienced substantial growth, with leasing revenues increasing 10% to P3.33 billion in the first half and 9.4% to P1.67 billion in the second quarter. This was supported by growing consumer foot traffic and new leases to premium tenants. The malls recorded more than 30,000 square meters of new tenant openings during the period, including new international brands like Japan’s Nitori, Korea’s 8Seconds, and China’s KKV. The company also expanded retail spaces at Lucky Chinatown in Binondo with the opening of its Imperial Wing.
Hospitality Sector Leads with Highest Growth: The company’s hotel revenues posted the highest growth rate among all segments, rising 19% to P2.81 billion in the first half of 2025 and a 12% increase to P1.39 billion during the second quarter. This strong performance benefited from higher room rates and increased room keys compared to the previous year. During the second quarter, Megaworld announced a strategic partnership with Accor, one of the largest hotel chains globally, aimed at elevating and expanding its current hotel portfolio.
Residential Sales Maintain Strong Momentum: Real estate sales increased 9% year-on-year to P27.12 billion in the first half, accelerating to 10% growth at P14.03 billion in the second quarter. This was supported by robust residential demand across projects in both Metro Manila and key growth centers in the provinces, alongside ongoing project completions. Key contributors included Uptown Bonifacio, McKinley Hill, McKinley West, Eastwood City, ArcoVia City, Iloilo Business Park, Maple Grove, and The Upper East Bacolod.
Strategic Expansion and Future Outlook
During the first half of the year, Megaworld launched its 36th township, the 116-hectare Nascala Coast in Nasugbu, Batangas, developed by its subsidiary GlobalEstate Resorts, Inc. (GERI). This P5-billion beachside township will feature residential villages, beachside condominiums, commercial hubs, and leisure and wellness facilities.
“What excites us most is the broad-based strength we are seeing — offices, malls, residential and hotels are all growing. That gives us confidence as we scale further,” added Gutierrez-Alfonso. “We’re pushing forward with more townships, smarter spaces, and deeper integration across our developments, but at the same time, making sure that we build responsibly and sustainably.”
The company now boasts 36 townships across the country, covering approximately 7,000 hectares. Megaworld is on track to launch another expansive township development within the year as part of its continued expansion in the provinces. Looking ahead, the company 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 in five years.
