Property developer posts record P12B profit, driven by township growth

A major Philippine real estate developer reported its highest-ever first-half and second-quarter profits, supported by strong performances across its office, mall, hotel, and residential segments.

Megaworld Corp. said Tuesday that net income in the first half of 2025 rose by 23 percent to P12.09 billion, while second-quarter profits jumped 31 percent to P6.26 billion. The company disclosed the results in a regulatory filing.

“This is a strong reaffirmation of the resilience of our township strategy,” said Megaworld president and CEO Lourdes Gutierrez-Alfonso, noting that all of the company’s core segments posted growth.

Consolidated revenues for the January–June period increased by 10 percent to P43.09 billion, also reflecting a 10 percent year-on-year rise in second-quarter sales.

The firm’s office leasing business was a top contributor, with revenues climbing 17 percent in the first half toP7.40 billion. Nearly 100,000 square meters in new leases were signed in the second quarter, primarily with BPO firms and multinational companies.

Retail leasing revenues rose 10 percent to P3.33 billion in the first half amid rising foot traffic and new tenant entries. Hotel revenues grew the fastest among all segments, increasing by 19 percent to P2.81 billion as more rooms came online and average rates climbed.

Real estate sales reached P27.12 billion in the first six months, up 9 percent, with key projects in Metro Manila and provincial growth centers driving demand.

The company also launched a new P5-billion township project in Nasugbu, Batangas under its Global Estate Resorts Inc. subsidiary. The 116-hectare Nascala Coast brings the firm’s total number of townships to 36, with another launch expected later this year.

Megaworld currently operates around 7,000 hectares of township developments across the country.

“What excites us most is the broad-based strength we are seeing across all our business segments,” Alfonso said.