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Megaworld’s Net Income Jumps 17% to Record High of P15.8-B in 2018

Two Regis Mega World | Mea in Bacolod

MANILA, Philippines, April 08, 2019 ‐ Megaworld, the country’s largest developer of integrated urban townships, saw its net income grow by 17% to P15.8-billion in 2018 from P13.6-billion (excluding P113-million non-recurring gain) the previous year. Net income attributable to parent company ended at P15.2-billion by end-December 2018, a 17% jump from P13.0-billion in 2017 (excluding P113-million non-recurring gain).

Consolidated revenues grew about 15% to P57.4-billion in
2018 from the previous year’s P50-billion (excluding P113-million non-recurring
gain).

The company’s rental businesses, comprising of office
and lifestyle mall leasing, strongly contributed to the topline, soaring 21% to
P14.3-billion in 2018 from the previous year’s P11.8-billion. This contributed
25% of the total consolidated revenues during the year.

In 2018 alone, Megaworld has already achieved over 70%
of its rental income target of P20-billion by end of next year.

Last year, Megaworld opened its biggest mall development
outside of Metro Manila, the Festive Walk Mall in Iloilo Business Park,
offering around 90,000 square meters in gross floor area. It also opened two
new community malls – the San Lorenzo Place in Makati City, and The Village
Alabang in Las Piñas City.

Also last year, the company closed a historic deal in Philippine
real estate when it bagged the long-term lease contract to build the 25-storey
Philippine Global Service Center of JPMorgan Chase Bank, N.A. It was regarded
as the country’s biggest single lease transaction to date, with around 70,000
square meters of ‘build-to-suit’ office spaces for a single company alone.

“We have already secured multiple pre-lease deals for
our office buildings as well that are in the pipeline until next year. Same
goes to our mall and commercial spaces that are set to open in our various
townships. For our residential properties, we continue to see strong take-up
especially in our mature townships, and there is already a consistently growing
interest in our newly-launched townships,” says Kevin L. Tan, chief strategy
officer, Megaworld.

Megaworld’s residential business, on the other hand, saw
a double-digit growth of 11.5% in 2018 to P38.0-billion from P34.1-billion
during the same period the previous year. This contributed to 66% of the total
consolidated revenues during the year.

The Megaworld Group launched 25 residential projects in
2018, with a total sales value of around P106-billion. The company also
achieved P135-billion worth of sales reservation during the year.

Megaworld’s hotel business, likewise, grew its revenues by
about 14% to P1.5-billion compared to P1.3-billion in 2017. The company
launched two new hotels last year: the 684-room Savoy Hotel Manila in Newport
City, and the 126-room Twin Lakes Hotel in Twin Lakes, Laurel, Batangas. This
brought the number of Megaworld Hotels to seven (7) by end-2018.

“We have gained the fruits of our expansion in the
regions as we saw continuing growth in the demand for residential units as well
as office and commercial spaces in our various townships across the country.
Perhaps, as we build these townships, people saw the advantage of living where
they work, and living where everything is just within reach. This model makes
every aspect of our business viable and expandable, and we continue to spot for
opportunities where we can further grow and innovate our offerings,” explains
Tan.

Just several weeks ago, together with its subsidiary
Empire East Land Holdings, Inc., Megaworld introduced its 24th
township, the 24-hectare Highland City along F. Felix Avenue in Cainta, Rizal.
It allocated P20-billion to develop the township within a 10-year period.

Over the last 30 years, the Megaworld Group has expanded its township
developments across the Philippines that include: Eastwood City in Libis, Quezon City, (18.5
hectares); Newport City in Pasay City (25 hectares); McKinley Hill (50
hectares), McKinley West (34.5 hectares), Uptown Bonifacio (15.4 hectares) and
Forbes Town (5 hectares), all in Fort Bonifacio, Taguig City; The Mactan
Newtown in Lapu-Lapu City, Cebu (30 hectares); Iloilo Business Park in
Mandurriao, Iloilo City (72 hectares); Sta. Barbara Heights in Sta. Barbara,
Iloilo (173 hectares); Boracay Newcoast in Boracay Island (150 hectares); Twin
Lakes in Batangas near Tagaytay (1,300 hectares); ArcoVia City in Pasig City
(12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561
hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang
West in Las Piñas City (62 hectares); Eastland Heights in Antipolo, Rizal (640
hectares); Suntrust Ecotown in Tanza, Cavite (350 hectares); Maple Grove in General
Trias, Cavite (140 hectares); The Hamptons Caliraya in Lumban-Cavinti, Laguna (300
hectares); The Upper East (34 hectares) and Northill Gateway (50 hectares) both
in Negros Occidental; Capital Town Pampanga beside the Pampanga
Provincial Capitol in the City of San Fernando (35.6-hectares); and Westside
City in the Entertainment City in Paranaque City (31 hectares.) ###

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About the author /


Mea P. is a full-time online freelancer. She spends most of her time in her room-cave working, writing, and watching movies. She's a mom of one, a beauty enthusiast, and a person with great interest to write and create.

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