Total revenues jumped 17 percent to P81.7 billion, fueled by the company’s core businesses: real estate, leasing, and hospitality.
The company launched four new townships, covering nearly 400 hectares, solidifying its position as the leader in integrated urban developments.
• Real estate sales soared 19 percent to nearly P51 billion, driven by strong residential demand in Metro Manila and key provincial areas.
• Leasing revenues rose 10 percent to P19.7 billion as Megaworld Lifestyle Malls and Premier Offices continued to attract major tenants.
• Hospitality revenue delivered the highest growth at 34 percent, reaching P5.1 billion, supported by new hotel openings and rising travel demand.
Management’s view
“In 2024, aside from delivering record results as we celebrated our 35 years in the Philippine real estate industry, we also pushed the boundaries of innovation across our townships, and bannered the new developments that truly help contribute to nation-building,” says Lourdes Gutierrez-Alfonso, president, Megaworld.
“Moving forward, we will set our eyes on more innovations as well as on how we can collaborate to further innovate, but still keeping our commitment to care for our people and our communities,” adds Gutierrez-Alfonso.
Leasing expansion, retail growth
Megaworld’s leasing segment gained momentum as top-tier BPO firms and multinational corporations secured office spaces.
Megaworld Premier Offices leased nearly 140,000 square meters, pushing office revenues up 7 percent to P13.4 billion. The turnover of the International Finance Center in Uptown Bonifacio, fully occupied by JPMorgan Chase, played a key role in this growth.
Retail leasing also strengthened as Megaworld Lifestyle Malls welcomed 50,000 square meters of new store openings.
This surge in retail activity helped mall revenues climb 19 percent to P6.3 billion, benefiting from increased foot traffic and consumer spending.
Hotels, Townships
Megaworld Hotels & Resorts posted its strongest year yet, with a 34-percent revenue jump as travel rebounded.
The opening of Grand Westside Hotel, now the largest hotel in the Philippines with 1,530 rooms, bolstered earnings.
The company also started building Mactan Expo, a 2,500-capacity convention facility in Cebu, set to enhance its MICE (Meetings, Incentives, Conventions, and Exhibitions) business.
Meanwhile, Megaworld’s township portfolio expanded to 35 developments, with a total land bank nearing 7,000 hectares.
Major new projects included Lialto Golf and Beach Estate in Batangas, Ilocandia Coastown in Laoag, and The Upper Central in Cagayan de Oro.
