Revenue reached P44.2 billion, with growth across the Kevin Tan-led property giant’s businesses spanning residential development, offices, malls and hotels.
Management’s view
“This outperformance reflects the enduring advantage of our integrated townships, where complementary uses reinforce demand across the portfolio,” said Megaworld president and CEO Lourdes T. Gutierrez-Alfonso said.
“Supported by a strong and prudently managed balance sheet, we have ample financial flexibility to sustain execution and pursue growth opportunities even in a more volatile macroeconomic environment,” she added.
Megaworld ended June with P22.8 billion in cash, while its net debt-to-equity ratio improved to 0.24 times, leaving the developer with room to continue investing despite uncertain economic conditions.
Recurring businesses deliver
Megaworld’s businesses that generate recurring rental and operating income all expanded during the first half:
Megaworld had already renewed more than 80 percent of office leases scheduled to expire this year by the end of June, providing greater visibility over rental income for the rest of 2026.
Home sales buck the slowdown
Residential demand also strengthened, with first-half pre-sales rising 15 percent to P63 billion and second-quarter bookings climbing 20 percent to P33.3 billion.
Provincial projects such as Ilocandia Coastown and Paragua Coastown helped drive the increase, reducing Megaworld’s reliance on the much weaker Metro Manila condominium market.
The performance stood out against a 47 percent decline in net unit pre-sales across Metro Manila over the same period, according to Colliers Philippines, while Megaworld booked P27.2 billion in residential revenue as construction progressed.
Megaworld is targeting two million square meters of office space and one million square meters of retail space by 2030, which would bring its total leasing portfolio to three million square meters.
—Edited by Miguel R. Camus
