Top township developer Megaworld Corp. sustained its growth momentum with first-half and second-quarter earnings reaching historic levels as its hotel, office, and mall businesses led all its units forward.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said its net income for the first half of 2025 rose by 23 percent to ₱12.09 billion, while second-quarter earnings increased by 31 percent year-on-year to ₱6.26 billion.

Megaworld said all of its core businesses—residential, leasing, and hospitality—registered growth for both the first half and the second quarter.

"Our strong first-half and second-quarter results reaffirm the strength and adaptability of our township strategy. We are always focused on ensuring that our core segments will continue to deliver exceptional performance even in challenging environments,” said Megaworld President and Chief Executive Officer (CEO) Lourdes Gutierrez-Alfonso.

Consolidated revenues for the first half improved 10 percent to ₱43.09 billion, while also growing 10 percent in the second quarter compared to the same period last year.

The company’s leasing business remains to be a key growth driver, with office leasing revenues by Megaworld Premier Offices expanding by 17 percent to ₱7.4 billion in the first half of the year, and by almost 18 percent to ₱3.7 billion during the second quarter, driven by the contribution of new assets and leases as well as sustained rent escalations.

Megaworld Premier Offices closed nearly 100,000 square meters (sqm) in new leases during the quarter, driven by expansions from top-tier business process outsourcing (BPO) and multinational companies. Amid industry-wide headwinds, Megaworld’s differentiated office footprint continued to outperform.

Leasing revenues of Megaworld Lifestyle Malls likewise grew 10 percent to ₱3.33 billion in the first half and 9.4 percent to ₱1.67 billion in the second quarter, as growing consumer foot traffic and new leases to premium tenants supported its growth.

Megaworld Lifestyle Malls recorded more than 30,000 sqm of new tenant openings during the period. The company also announced that it has expanded the retail spaces at Lucky Chinatown in Binondo with the opening of its Imperial Wing.

Hotel revenues posted the highest growth rate among all segments, rising 19 percent to ₱2.81 billion in the first half of 2025 compared to the same period last year, and a 12-percent increase to ₱1.39 billion during the second quarter.

The company’s hospitality business benefited from higher room rates and higher room keys compared to the previous year.

Real estate sales increased nine percent year-on-year to ₱27.12 billion in the first half and grew by a faster 10 percent to ₱14.03 billion in the second quarter. Growth was supported by strong residential demand across projects in both Metro Manila and key growth centers in the provinces, along with ongoing project completions.

"What excites us most is the broad-based strength we are seeing—offices, malls, residential, and hotels are all growing. That gives us confidence as we scale further. We’re pushing forward with more townships, smarter spaces, and deeper integration across our developments, but at the same time, making sure that we build responsibly and sustainably,” said Gutierrez-Alfonso.

The company now has 36 townships across the country, covering approximately 7,000 hectares (ha). Megaworld is on track to launch another expansive township development within the year as part of its continued expansion in the provinces.

The company also targets to grow its office gross leasable area (GLA) to two million sqm by 2030 and its retail GLA to one million sqm in five years, to bring Megaworld’s total leasing portfolio GLA to three million sqm by 2030.