Megaworld reports P5.83B Q1 net income, up 16%

Megaworld Corp., a property giant owned by tycoon Andrew Tan, reported a net income of P5.83 billion for the first quarter of 2025, marking a 16% year-over-year increase.

The company's consolidated revenues grew by 11% to P20.93 billion, driven by strong performances in residential, leasing, and hotel operations.

Megaworld president Lourdes Gutierrez-Alfonso highlighted the diversified portfolio's robust growth across all core businesses, noting that more than half of township developments are located outside Metro Manila.

Leasing revenues increased 15% to P5.34 billion, with office segment revenues rising by 17%, while lifestyle mall revenues grew by 11%. The hotels and resorts business saw the fastest growth at 27% year-on-year.

Megaworld aims to expand its leasing portfolio gross leasable area to three million square meters by 2030, with specific targets of two million square meters for office space and one million square meters for retail space.

The property developer's shares rose on Wednesday following the announcement, climbing by 1.11% to P1.82 each.