Net income for the first nine months climbed 16 percent to P15.69 billion, while third-quarter net income surged 26 percent year-on-year to P5.87 billion.
Attributable net income rose 14 percent to P13.73 billion, with a 25-percent increase in the third quarter.
Revenues hit P59.78 billion over nine months, up 23 percent, fueled by strategic expansion in residential, leasing, and hotel operations. Third-quarter revenues rose 25 percent to P20.69 billion.
Management’s view
“These strategic developments are integral to Megaworld’s forward-looking strategy, positioning the company for sustained, long-term growth. Our goal is to expand our portfolio in every key region in the country, generate more jobs in these localities, and help build the communities,” said Tan, president and CEO of Alliance Global Group, the parent company of Megaworld.
New growth opportunities
“Our performance this year highlights the value of our well-rounded approach. By expanding in areas that matter—residential, commercial, and hospitality—we’re not only building momentum but also creating meaningful communities across the country,” said Lourdes Gutierrez-Alfonso, president of Megaworld.
“We look forward to a strong 2024 with a clear focus on seizing new opportunities for growth that will benefit our stakeholders and the communities we serve,” she added.
Residential, mall revenues
Real estate sales remained a core driver, growing 30 percent to P37.85 billion in nine months, and 31 percent in the third quarter.
Leasing revenues increased nearly 7 percent to P14.16 billion, while Megaworld Lifestyle Malls saw a 16-percent jump to P4.52 billion.
Hotels, townships
Megaworld Hotels and Resorts led with 38 percent revenue growth to P3.64 billion, boosted by tourism and MICE (meetings, incentives, conferences, and exhibitions) strategies.
New townships, including Lialto Beach in Batangas and Ilocandia Coastown in Ilocos Norte, reinforced the company’s footprint as it targets 35 townships for its 35th anniversary.
