𝑅𝑒𝑎𝑙 𝑒𝑠𝑡𝑎𝑡𝑒, 𝑙𝑒𝑎𝑠𝑖𝑛𝑔, 𝑎𝑛𝑑 ℎ𝑜𝑡𝑒𝑙 𝑟𝑒𝑣𝑒𝑛𝑢𝑒𝑠 𝑝𝑜𝑠𝑡 𝑠𝑡𝑟𝑜𝑛𝑔 𝑑𝑜𝑢𝑏𝑙𝑒-𝑑𝑖𝑔𝑖𝑡 𝑔𝑟𝑜𝑤𝑡ℎ

Megaworld, the country’s pioneer developer of integrated townships, posted a net income of P4.6-billion in the first quarter of this year to surpass its quarterly performance during the pre-pandemic levels for the very first time. This figure was up 30% from P3.5-billion during the same period last year as all core businesses registered strong topline growth. Consolidated revenues grew by 24% to P16.2-billion. The company’s performance in the first quarter of 2023 marks its full recovery from its pre-pandemic performance. Consolidated revenues and net income are already 9% and 11% higher, respectively, compared to the first quarter of 2019.

Likewise, net income attributable to the parent company’s shareholders stood at P4.1-billion and grew by 33% compared to the same period last year. 

“We start the year strong as we continue sustaining the recovery momentum of our businesses and finally grow past our pre-pandemic performance for the first time since the pandemic began in 2020. This affirms our position in the industry and ability to quickly adapt in this new environment and capture opportunities,” says Kevin L. Tan, chief strategy officer, Megaworld.

Real estate sales for the quarter grew by 17% year-on-year to P9.4-billion, driven by the higher completion rate of its projects. Similarly, residential pre-sales surged by 71% to P39.6-billion in 1Q23 and already accounts for 30% of the company’s year-end pre-sales target of P130-billion. The company saw renewed demand in Metro Manila during the quarter especially in its projects in McKinley West and Uptown Bonifacio, Taguig City. 

Leasing revenues, on the other hand, grew by 18% to P4.4-billion with the growth led by the performance of the mall segment.

𝑴𝒆𝒈𝒂𝒘𝒐𝒓𝒍𝒅 𝑷𝒓𝒆𝒎𝒊𝒆𝒓 𝑶𝒇𝒇𝒊𝒄𝒆𝒔 posted P3.1-billion in rental income during the period, marking a firm 5% increase from the P3.0-billion last year. This resulted from the growing transactions from both traditional and BPO tenants, as well as emerging businesses. 

𝑴𝒆𝒈𝒂𝒘𝒐𝒓𝒍𝒅 𝑳𝒊𝒇𝒆𝒔𝒕𝒚𝒍𝒆 𝑴𝒂𝒍𝒍𝒔 saw revenues jump by 73% in the first quarter, amounting to P1.2-billion. The stellar growth was mainly driven by increased spending and higher rents as the company started to collect full rents beginning January 1, 2023. 

𝑴𝒆𝒈𝒂𝒘𝒐𝒓𝒍𝒅 𝑯𝒐𝒕𝒆𝒍𝒔 & 𝑹𝒆𝒔𝒐𝒓𝒕𝒔 saw revenues soar by 62% to P813-million in the first quarter of 2023, compared to P503-million in the same period last year. This was largely driven by the continued growth of in-city hotels, MICE activities, as well as the strong growth in Food & Beverage (F&B) revenues.

“As we move forward, we are now focused on sustaining our strong growth and look to close the year with a record performance for Megaworld,” reveals Tan.

To date, Megaworld has 30 master‐planned integrated urban townships, integrated lifestyle communities, and lifestyle estates across the country, namely: Eᴀsᴛᴡᴏᴏᴅ Cɪᴛʏ ɪɴ Lɪʙɪs, Qᴜᴇᴢᴏɴ Cɪᴛʏ, (18.5 ʜᴇᴄᴛᴀʀᴇs); Nᴇᴡᴘᴏʀᴛ Cɪᴛʏ ɪɴ Pᴀsᴀʏ Cɪᴛʏ (25 ʜᴇᴄᴛᴀʀᴇs); MᴄKɪɴʟᴇʏ Hɪʟʟ (50 ʜᴇᴄᴛᴀʀᴇs), MᴄKɪɴʟᴇʏ Wᴇsᴛ (34.5 ʜᴇᴄᴛᴀʀᴇs), Uᴘᴛᴏᴡɴ Bᴏɴɪꜰᴀᴄɪᴏ (15.4 ʜᴇᴄᴛᴀʀᴇs) ᴀɴᴅ Fᴏʀʙᴇs Tᴏᴡɴ (5 ʜᴇᴄᴛᴀʀᴇs), ᴀʟʟ ɪɴ Fᴏʀᴛ Bᴏɴɪꜰᴀᴄɪᴏ, Tᴀɢᴜɪɢ Cɪᴛʏ; Lᴜᴄᴋʏ Cʜɪɴᴀᴛᴏᴡɴ ɪɴ Bɪɴᴏɴᴅᴏ, Mᴀɴɪʟᴀ (3 ʜᴇᴄᴛᴀʀᴇs); Tʜᴇ Mᴀᴄᴛᴀɴ Nᴇᴡᴛᴏᴡɴ ɪɴ Lᴀᴘᴜ‐Lᴀᴘᴜ Cɪᴛʏ, Cᴇʙᴜ (30 ʜᴇᴄᴛᴀʀᴇs); Iʟᴏɪʟᴏ Bᴜsɪɴᴇss Pᴀʀᴋ ɪɴ Mᴀɴᴅᴜʀʀɪᴀᴏ, Iʟᴏɪʟᴏ Cɪᴛʏ (72 ʜᴇᴄᴛᴀʀᴇs); Sᴛᴀ. Bᴀʀʙᴀʀᴀ Hᴇɪɢʜᴛs ɪɴ Sᴛᴀ. Bᴀʀʙᴀʀᴀ, Iʟᴏɪʟᴏ (173 ʜᴇᴄᴛᴀʀᴇs); Bᴏʀᴀᴄᴀʏ Nᴇᴡᴄᴏᴀsᴛ ɪɴ Bᴏʀᴀᴄᴀʏ Isʟᴀɴᴅ (150 ʜᴇᴄᴛᴀʀᴇs); Tᴡɪɴ Lᴀᴋᴇs ɪɴ Aʟꜰᴏɴsᴏ, Bᴀᴛᴀɴɢᴀs ɴᴇᴀʀ Tᴀɢᴀʏᴛᴀʏ (1,300 ʜᴇᴄᴛᴀʀᴇs); AʀᴄᴏVɪᴀ Cɪᴛʏ ɪɴ Pᴀsɪɢ Cɪᴛʏ (12.3 ʜᴇᴄᴛᴀʀᴇs); Sᴏᴜᴛʜᴡᴏᴏᴅs Cɪᴛʏ ɪɴ ᴛʜᴇ ʙᴏᴜɴᴅᴀʀɪᴇs ᴏꜰ Bɪɴ̃ᴀɴ, Lᴀɢᴜɴᴀ ᴀɴᴅ Cᴀʀᴍᴏɴᴀ, Cᴀᴠɪᴛᴇ (561 ʜᴇᴄᴛᴀʀᴇs); Dᴀᴠᴀᴏ Pᴀʀᴋ Dɪsᴛʀɪᴄᴛ ɪɴ Lᴀɴᴀɴɢ, Dᴀᴠᴀᴏ Cɪᴛʏ (11 ʜᴇᴄᴛᴀʀᴇs); Aʟᴀʙᴀɴɢ Wᴇsᴛ ɪɴ Lᴀs Pɪɴ̃ᴀs Cɪᴛʏ (62 ʜᴇᴄᴛᴀʀᴇs); Eᴀsᴛʟᴀɴᴅ Hᴇɪɢʜᴛs ɪɴ Aɴᴛɪᴘᴏʟᴏ, Rɪᴢᴀʟ (640 ʜᴇᴄᴛᴀʀᴇs); Sᴜɴᴛʀᴜsᴛ Eᴄᴏᴛᴏᴡɴ ɪɴ Tᴀɴᴢᴀ, Cᴀᴠɪᴛᴇ (350 ʜᴇᴄᴛᴀʀᴇs); Mᴀᴘʟᴇ Gʀᴏᴠᴇ ɪɴ Gᴇɴᴇʀᴀʟ Tʀɪᴀs, Cᴀᴠɪᴛᴇ (140 ʜᴇᴄᴛᴀʀᴇs); Tʜᴇ Hᴀᴍᴘᴛᴏɴs Cᴀʟɪʀᴀʏᴀ ɪɴ Lᴜᴍʙᴀɴ‐Cᴀᴠɪɴᴛɪ, Lᴀɢᴜɴᴀ (300 ʜᴇᴄᴛᴀʀᴇs); Tʜᴇ Uᴘᴘᴇʀ Eᴀsᴛ (34 ʜᴇᴄᴛᴀʀᴇs) ɪɴ Bᴀᴄᴏʟᴏᴅ Cɪᴛʏ; Nᴏʀᴛʜɪʟʟ Gᴀᴛᴇᴡᴀʏ (50 ʜᴇᴄᴛᴀʀᴇs) ɪɴ ᴛʜᴇ ʙᴏᴜɴᴅᴀʀɪᴇs ᴏꜰ Bᴀᴄᴏʟᴏᴅ Cɪᴛʏ ᴀɴᴅ Tᴀʟɪsᴀʏ Cɪᴛʏ ɪɴ Nᴇɢʀᴏs Oᴄᴄɪᴅᴇɴᴛᴀʟ; Cᴀᴘɪᴛᴀʟ Tᴏᴡɴ Pᴀᴍᴘᴀɴɢᴀ ʙᴇsɪᴅᴇ ᴛʜᴇ Pᴀᴍᴘᴀɴɢᴀ Pʀᴏᴠɪɴᴄɪᴀʟ Cᴀᴘɪᴛᴏʟ ɪɴ ᴛʜᴇ Cɪᴛʏ ᴏꜰ Sᴀɴ Fᴇʀɴᴀɴᴅᴏ (35.6‐ʜᴇᴄᴛᴀʀᴇs); Wᴇsᴛsɪᴅᴇ Cɪᴛʏ ɪɴ ᴛʜᴇ Eɴᴛᴇʀᴛᴀɪɴᴍᴇɴᴛ Cɪᴛʏ ɪɴ Pᴀʀᴀɴᴀǫᴜᴇ Cɪᴛʏ (31 ʜᴇᴄᴛᴀʀᴇs); Eᴍᴘɪʀᴇ Eᴀsᴛ Hɪɢʜʟᴀɴᴅ Cɪᴛʏ ɪɴ Cᴀɪɴᴛᴀ, Rɪᴢᴀʟ (24 ʜᴇᴄᴛᴀʀᴇs); Aʀᴅᴇɴ Bᴏᴛᴀɴɪᴄᴀʟ Esᴛᴀᴛᴇ ɪɴ ᴛʜᴇ ʙᴏᴜɴᴅᴀʀɪᴇs ᴏꜰ Tʀᴇᴄᴇ Mᴀʀᴛɪʀᴇs ᴀɴᴅ Tᴀɴᴢᴀ, Cᴀᴠɪᴛᴇ (251 ʜᴇᴄᴛᴀʀᴇs); Pᴀʀᴀɢᴜᴀ Cᴏᴀsᴛᴏᴡɴ ɪɴ Sᴀɴ Vɪᴄᴇɴᴛᴇ, Pᴀʟᴀᴡᴀɴ (462 ʜᴇᴄᴛᴀʀᴇs); Nᴏʀᴛʜᴡɪɴ Gʟᴏʙᴀʟ Cɪᴛʏ ɪɴ Mᴀʀɪʟᴀᴏ ᴀɴᴅ Bᴏᴄᴀᴜᴇ, Bᴜʟᴀᴄᴀɴ (85 ʜᴇᴄᴛᴀʀᴇs); Wɪɴꜰᴏʀᴅ Rᴇsᴏʀᴛ Esᴛᴀᴛᴇ ɪɴ Mᴀɴɪʟᴀ Cɪᴛʏ (3 ʜᴇᴄᴛᴀʀᴇs); ᴀɴᴅ Sʜᴇʀᴡᴏᴏᴅ Hɪʟʟs ɪɴ Tʀᴇᴄᴇ Mᴀʀᴛɪʀᴇs, Cᴀᴠɪᴛᴇ (340 ʜᴇᴄᴛᴀʀᴇs)