Megaworld 1H profit rises 5% to ₱12.7B as residential sales jump

Residential pre-sales climb 15% to ₱63 billion as Megaworld outperforms a weaker Metro Manila property market.

Megaworld reported ₱12.7 billion in net income for the first half of 2026, up 5% from a year earlier, as its office, mall and hotel businesses continued to generate steady income despite a challenging property market.

Consolidated revenues reached ₱44.2 billion, while residential pre-sales rose 15% to ₱63 billion. The residential figure is particularly notable because it came as the broader Metro Manila market weakened.

Megaworld’s second-quarter residential sales jumped 20% to ₱33.3 billion, helped by strong take-up in provincial projects such as Ilocandia Coastown and Paragua Coastown. That performance stands out against Metro Manila, where net unit pre-sales fell 47% during the same period, according to Colliers Philippines.

The strong provincial sales give the Tan-led company a notable counterpoint to the slowdown in Metro Manila. The company said demand was supported by its township developments, where residential projects are built alongside offices, malls, hotels, open spaces and essential services.

Its recurring businesses also remained solid. Hotel revenues rose 11% to ₱3.1 billion, mall revenues increased 8% to ₱3.6 billion, while office rental revenues grew 5% to ₱7.8 billion.

The company ended June with ₱22.8 billion in cash and a net debt-to-equity ratio of 0.24x, giving it financial room to continue funding projects as the property market remains uneven.