Megaworld Corporation, one of the Philippines’ biggest property developers, reported that it earned ₱6.2 billion in net income during the first three months of 2026. This is 6% higher compared to the ₱5.8 billion they made during the same period last year, according to a disclosure filed with the Securities and Exchange Commission on May 4, 2026.

What Does This Mean in Simple Terms?

Think of Megaworld as a company that builds and manages different things: shopping malls, office buildings, hotels, and homes for people to buy. Net income is like their “take-home pay” after paying all their expenses – it’s the actual profit they get to keep.

The company’s total revenues (all the money coming in) reached ₱21.6 billion for the first quarter, slightly up from ₱20.9 billion a year ago. What’s interesting is that all their different business areas grew, which company President and CEO Lourdes Gutierrez-Alfonso says shows their “township model” is working well.

Breaking Down Where the Money Came From

Shopping Malls Growing Strong

Megaworld Lifestyle Malls, which operates shopping centers, saw revenues jump 9% to ₱1.8 billion. This happened because more stores opened in their malls – about 12,000 square meters of new shops during the quarter. That’s roughly the size of two basketball courts filled with new stores! People continue to spend money on food, fashion, home items, and entertainment in these malls.

Office Buildings Still in Demand

Megaworld Premier Offices, which rents out office spaces, earned ₱3.8 billion, up 4% from last year. The company rented out over 95,000 square meters of office space in the first quarter. About 28,000 square meters were brand new leases, meaning new companies moving in. Many of these tenants are BPO firms (Business Process Outsourcing companies – think call centers) and multinational corporations.

Here’s an important detail: almost 80% of office leases that were supposed to end this year had already been renewed by the first quarter. This shows that companies like renting from Megaworld and want to stay.

Hotels and Resorts Performing Well

Megaworld Hotels & Resorts made ₱1.5 billion, an 8% increase. They earned more because room rates went up and there were more MICE activities. MICE stands for Meetings, Incentives, Conferences, and Exhibitions – basically events where many people gather for business purposes.

In March 2026, President Ferdinand R. Marcos, Jr. opened a new convention center called Mactan Expo in Cebu. This ₱1.5-billion facility can hold up to 3,000 people and marks Megaworld’s official entry into the large-events business.

The company also announced that Grand Westside Hotel, currently the Philippines’ largest hotel by number of rooms, will be renamed Movenpick Manila Bay Westside Hotel and will become the world’s largest Mövenpick Hotel property.

Residential Sales Steady

Real estate sales (selling homes and condominiums) brought in ₱13.3 billion, about the same as last year’s first quarter. However, this was 15% higher compared to the last three months of 2025. The biggest contributors were projects in Uptown Bonifacio, McKinley West, Westside City, and ArcoVia City.

About Megaworld Corporation

Megaworld is known for developing “townships” – large mixed-use communities that combine residential buildings, offices, malls, and hotels all in one area. According to their SEC filing, the company has 32.4 billion common shares and 6 billion preferred shares outstanding, for a total of 38.4 billion shares.

In early 2026, Megaworld launched its 37th township called The Sugartown, a 97-hectare development in Talisay City, Negros Occidental. This is their third township in the Negros Island Region, showing their strategy to expand beyond Metro Manila into provincial areas.

What the Company Says

CEO Lourdes Gutierrez-Alfonso explained that their results show the strength of their “recurring income base” – money that comes in regularly from rents and leases rather than one-time sales. She emphasized that the company maintains “financial discipline” and careful management of money, especially during uncertain times in global markets.

She added that their township model creates “self-reinforcing communities” where residents, workers, and visitors support each other, and their expansion into provinces in Visayas, Mindanao, and other Luzon areas is becoming some of their strongest growth areas.

Future Plans

Megaworld is targeting to reach two million square meters of office space and one million square meters of retail space by 2030, for a total of three million square meters of leasable area across all their properties.

This information is based on Megaworld Corporation’s SEC Form 17-C disclosure filed on May 4, 2026.

This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.