Megaworld net income jumps 14% to P18 billion in nine months

Megaworld Corporation announced a 14% increase in its net income for the first nine months of the year, reaching nearly P18 billion.

This financial growth was driven by a solid performance across its key business segments, including office leasing, residential sales, and hotel operations.

The company's consolidated revenues saw an 8% rise, totaling P64.41 billion during the same period.

Revenues from leasing operations climbed by 15% to P16.24 billion, with the premier offices unit showing a significant 16% growth attributed to rental escalations, renewals, and new clients.

The lifestyle malls unit also experienced a 13% increase in leasing revenues, boosted by higher foot traffic and consumer spending.

Hotel operations reported a 13% revenue increase to P4.13 billion, benefiting from improved room rates, increased travel, and expanded room capacity.

Real estate sales contributed P40.24 billion, marking a 6% increase due to stable sales take-up and ongoing construction of residential projects.