Megaworld posts P5.83B net income in first quarter

Property developer Megaworld Corporation opened the year with strong results, reporting a 16 percent year-on-year increase in net income to P5.83 billion in the first quarter.

- Ehda M. Dagooc Staff Member

Total revenues rose 11 percent to P20.93 billion, supported by gains across its key business segments: real estate sales, leasing, and hospitality.

“This strong start reflects the strength of our business model and the opportunities we’re seeing especially outside Metro Manila,” said Lourdes Gutierrez-Alfonso, president of Megaworld. “All core sectors — residential, offices, malls, and hotels posted growth.”

Megaworld, the pioneer of the township model in the Philippines, now has 35 integrated developments nationwide. Over half of these are located in the provinces, underscoring the company’s strategy to tap fast-growing regional markets.

RESIDENTIAL AND LEASING UNITS SHOW RESILIENCE