MEGAWORLD Corp. on Wednesday reported a 5-percent increase in net income to P12.7 billion in the first half (H1), from P12.09 billion a year earlier, as growth in its recurring-income businesses helped support earnings amid a challenging property market.
The property developer said consolidated revenues likewise increased to P44.2 billion from P43.09 billion in the same period last year.
The latest earnings growth was slower than the 23-percent increase recorded in the first half of 2025, when Megaworld’s net income rose to P12.09 billion from P9.83 billion a year earlier.
Megaworld Hotels & Resorts was the fastest-growing recurring-income segment, with revenue rising 11 percent to P3.1 billion.
The company said growth in the segment was supported by the opening of the 405-room Belmont Hotel Iloilo, which brought its hotel portfolio in Iloilo Business Park to nearly 1,000 rooms.
Megaworld Lifestyle Malls posted an 8-percent increase in revenue to P3.6 billion, while portfolio occupancy stood at 95 percent.
Office rental revenue grew 5 percent to P7.8 billion, which the company described as reflecting the stability of its tenant base.
Megaworld said it secured office lease renewals covering more than 122,000 square meters during the first half, with more than 80 percent of leases scheduled to expire in 2026 already renewed.
Meanwhile, residential presales increased 15 percent to P63 billion in the first half.
Second-quarter residential presales reached P33.3 billion, up 20 percent year on year, driven partly by provincial projects such as Ilocandia Coastown and Paragua Coastown.
Megaworld said its residential performance outpaced the broader Metro Manila market, where net unit presales fell 47 percent.
The company said residential revenue bookings in the first six months reached P27.2 billion.
Megaworld ended the first half with P22.8 billion in cash while net debt-to-equity ratio improved to 0.24 times, reflecting strong liquidity and prudent financial management.
President and CEO Lourdes Gutierrez-Alfonso said the company’s first-half performance demonstrated its ability to deliver growth across its businesses despite a challenging property market.
“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 said.
Megaworld shares on Wednesday added P0.03, or 1.32 percent, to close at P2.30 each.
