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AGI HITS 9M PROFIT OF P24.8B, UP 24%

by Contributor
written by Contributor

MANILA, Philippines — Alliance Global Group Inc. (AGI), the conglomerate led by tycoon Dr. Andrew L. Tan, saw a robust 24% year-on-year (YoY) growth in net income in the first nine months of 2025 to P24.8-billion as consolidated revenue reached P143.4-billion. 

The Group’s interim performance included one-time gain of P3.4-billion from the deconsolidation of its quick-service restaurants business, Golden Arches Development Corp (GADC), where AGI retains a 49% stake. GADC is now treated as an associate. This also brought AGI’s attributable profit during the period to P17.4-billion, up by 34% YoY.

Even if such one-offs are excluded, AGI’s core net income still reflected a growth of 10% YoY to P21.2-billion. This was driven by strong office and malls businesses, healthy contribution from the residential segment, and the resilience of the Group’s hospitality business. Core attributable net profit stood at P13.9-billion, an improvement of 8% YoY.

“AGI’s robust performance in the first three quarters of the year is largely due to our diversified business portfolio and product mix. During the period, we saw a sequential improvement in office and mall rentals, and steady contribution from our residential and hospitality segments,” says Kevin L. Tan, President and CEO, AGI. “Despite global economic challenges, our spirits business has managed to gain traction in the international market,” continues Tan.

“What provided an added lift in Group earnings and margins is our ongoing cost management efforts, which we implemented across the business.  As we build a culture of cost awareness, we hope to further enhance our operating efficiencies moving forward,” Tan adds.

Megaworld, the country’s premier township developer, remained the biggest contributor to Group performance in the first nine months of the year after it recorded a net income of P15.9-billion, reflecting a sharp 16% improvement from P13.7-billion in the previous year. Consolidated revenue grew by 8% YoY to P64.4-billion, buoyed by robust office, mall, and hotel revenues, in addition to healthy real estate sales. 

Rental income of Megaworld Premier Offices improved by 16% YoY to P11.1-billion, coming on the back of stable occupancy of 87% and sustained rent escalations.  It also posted above-industry new lease transactions that helped maintain its market leadership in the Philippine office sector. 

Megaworld Lifestyle Malls continued to post a healthy 13% YoY growth in revenue to P5.1-billion, helped by significant increases in foot traffic and tenant sales, accompanied by high occupancy rate of 93%. 

Megaworld Hotels & Resorts also registered a 13% YoY improvement in revenue to P4.1-billion, boosted by its expanded room count and the double-digit growth in average daily room rate. 

Meanwhile, the residential segment clocked in another 6% YoY increase in revenue to P40.2-billion, as the company continued to benefit from the resilience of the upper-mid to high-end market segment.

Emperador, the world’s biggest brandy company and amongst the world’s fastest-growing Scotch whisky manufacturers, recorded consolidated revenue of P41.2-billion in the first three quarters of the year. The company is supported by its diversified product portfolio with varying price points, a deep range of ageing liquids in its inventories, and a wide global distribution network spanning over 100 countries. Attributable net profit stood at P4.7-billion for the same period.

The Brandy segment accounted for P26.3-billion of total revenue, reflecting a 5% YoY increase, driven by the improving contribution from its aspirational Fundador brandy products, which maintained market leadership in Spain, Mexico, and the Philippines. Despite ongoing challenges in the global spirits market, the Scotch Whisky segment delivered P14.9-billion in revenue.  The segment is now gaining better traction of the international market for its highly popular single malt whiskies like The Dalmore, Jura, and Tamnavulin. 

Travellers International, the Group’s leisure and tourism arm, registered total gross revenue of P28.6-billion in the first nine months of the year, backed by increased foot traffic at the Newport World Resorts complex.  From this total, gross gaming revenue (GGR) contributed P23.5-billion, while non-gaming revenue from its hotel, food and beverage accounted for the balance of P5.1-billion. In the third quarter, GGR rose by 7% quarter-on-quarter as both mass and VIP segments improved from the previous quarter’s levels on better win rate and steady mass volume.  Attributable net income grew by 31% YoY to P651-million, benefitting from its ongoing cost management measures.

The Andrew Tan-led conglomerate has varied interests spanning real estate developments through property giant Megaworld Corporation; spirits manufacturing through Emperador Inc.; leisure, entertainment, and hospitality through Travellers International Hotel Group, Inc.; and, quick service restaurants through its interest in Golden Arches Development Corporation (GADC), popularly known as McDonald’s Philippines

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Business

MEGAWORLD’S 9M INCOME UP 14% TO ALMOST P18B AS OFFICE, MALLS, HOTELS HIT DOUBLE-DIGIT GROWTH

by Contributor
written by Contributor

MANILA, Philippines — Property giant Megaworld recorded a strong net income for the first nine months of 2025 as it grew 14% to almost P18-billion, mainly driven by the solid performance of the company’s core businesses, particularly its mall and office leasing, residential, as well as hotels.

Consolidated revenues, meanwhile, increased 8% to P64.41-billion

Leasing revenues reached P16.24-billion, growing 15% from the same period last year.

This was led by Megaworld Premier Offices, which continued to outperform the industry, as its revenues climbed to P11.14-billion, reflecting a growth of around 16% year-on-year.

The growth in the office leasing business was fueled by sustained rental escalations, renewals, and new take-ups from expanding BPO firms, as well as traditional multinational companies.

During the period, Megaworld closed nearly 140,000 square meters in new office leases and almost 120,000 square meters in renewals, reaffirming the strong preference for strategically located office spaces within integrated townships that offer better convenience, accessibility, and work-life integration.

Megaworld Lifestyle Malls, meantime, generated P5.10-billion in mall leasing revenues, up 13% from a year ago, as foot traffic and consumer spending continued to grow across key mall developments. This performance was supported by the sustained momentum in retail activities and continued tenant expansion, particularly in food, fashion, and home categories.

Over the nine-month period, Megaworld opened and expanded new store spaces that cater to some key international and lifestyle brands, particularly in Uptown Bonifacio, ArcoVia City, Eastwood City, and even in Lucky Chinatown.

Hotel operations under Megaworld Hotels & Resorts, on the other hand, recorded P4.13billion in revenues, marking a 13% increase year-on-year.

The segment continued to benefit from higher room rates, increased business and leisure travel, and the additional room inventory from newly opened hotels, such as Grand Westside Hotel, the country’s biggest hotel in terms of room keys.

Meanwhile, real estate sales rose 6% to P40.24-billion, supported by stable sales takeup and continued construction progress across multiple residential developments in Metro Manila and the provinces.

Among the strongest contributors during the period were the residential projects in Uptown Bonifacio, ArcoVia City, Maple Grove in Cavite, and The Upper East in Bacolod.

“Our year-to-date performance continues to reflect the strength of our recurring income portfolio and the sustained demand across our residential and hotel offerings,” says Lourdes Gutierrez-Alfonso, president, Megaworld Corporation.

“Even as we navigate mixed market conditions, we remain focused on delivering longterm value through innovation, operational efficiency, and township-led growth,” she adds.

During the period, the company also marked its entry into the ultra-luxury residential market with the launch of the Megaworld Luxe Collection.

In September, Megaworld also declared cash dividend amounting to around P0.094 per share, reinforcing its commitment to delivering shareholder returns.

In addition, the company launched a share buyback program in August 2025 to repurchase up to P2.0-billion worth of its outstanding shares. These capital return initiatives reflect the company’s strong cash position and confidence in its long-term growth strategy.

Currently, Megaworld has 36 township developments all over the country and a land bank covering around 7,000 hectares.

Before the year ends, Megaworld is expected to launch another new township development outside of Metro Manila as part of its continued expansion in the provinces.

The company also targets to grow its office gross leasable area (GLA) to two million square meters and its retail GLA to one million square meters by 2030.

These targets will bring Megaworld’s total leasing portfolio GLA to three million square meters in the next five years.

Megaworld remains to be one of the largest real estate companies in the Philippines, with total assets now reaching around half a trillion pesos as of end-September 2025. This reflects the strength of its balance sheet and the company’s continued investment in highvalue developments.

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BusinessLifestyle

Megaworld Ramps Up Retail Portfolio

by Contributor
written by Contributor

Additional 30,000 sqm of leasable spaces to open in McKinley West, Makati, Alabang West,

and Boracay Newcoast

MANILA — Property giant Megaworld, through its retail and commercial arm Megaworld Lifestyle Malls, is expanding its commercial retail portfolio by more than 30,000 square meters in response to strong demand for premium commercial spaces in key growth areas, especially in Megaworld townships.

Set to open this year are malls and commercial projects at McKinley West in Taguig, Makati, Alabang West in Las Piñas City, and Boracay Newcoast in Aklan. These new retail developments will keep Megaworld firmly on track to meet its target of one million square meters of gross leasable area by 2030.

Among the upcoming projects include The Shoppes at Park McKinley West, a two-story retail hub at the podium of the Park McKinley West condominium complex. It will be highlighted by a curated mix of international retailers, first-in-the-Philippines concepts, and homegrown dining and lifestyle brands such as Ogawa Traditional Japanese Restaurant, Tartufo, Royal Indian Curry House, One World Deli, George & Onnie’s, Café 17, Nightshade Cocktails & Bar, Hanamaruken, and Yakinuku Sudaku, among others.

Another lifestyle mall will also be opened at Vion Tower along EDSA corner Chino Roces Avenue in Makati, while additional retail areas will be opening soon at Alabang West in Las Piñas City.

At Boracay Newcoast, the company is also opening its Newcoast Beachwalk with an exciting mix of dining, retail, and services concepts that cater to the tourists visiting the island.

“We are growing our leasing business by bringing our signature lifestyle mall concept to more locations while introducing new experiences that resonate with today’s consumers. This approach allows us to drive sustained growth for Megaworld and, at the same time, enhance the value of our townships nationwide,” said Graham Coates, head of Megaworld Lifestyle Malls.

Megaworld Lifestyle Malls posted Php 3.33 billion in leasing revenues during the first half of 2025, up 10 percent year-on-year, supported by higher consumer foot traffic and strong leasing demand from premium tenants.
Earlier this year, Megaworld Lifestyle Malls also announced it has expanded its retail spaces at Lucky Chinatown in Binondo, Manila to 36,000 square meters of gross leasable area with the opening of the Imperial Wing.

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Business

Megaworld’s  1H, Q2 Profits Surge to historic levels

by Contributor
written by Contributor

Manila — Property giant Megaworld further accelerates its growth momentum as first half and second quarter earnings soared to historic levels.

Net income for the first half of 2025 grew 23% to P12.09 billion year-on-year while second quarter earnings increased by 31% to P6.26 billion year-on-year.

All of the company’s core businesses – residential, leasing, and hospitality – registered growth for both first half and 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,” says Lourdes Gutierrez-Alfonso, President and CEO, Megaworld Corporation.

Consolidated revenues for the first half rose 10% to P43.09 billion, and also 10% for 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 surged by 17% to P7.40 billion in the first half of the year, and almost 18% growth to P3.7 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 in new leases during the quarter, driven by expansions from top-tier BPOs and multinational companies, including many Fortune 500 companies located in key townships. Amid industry-wide headwinds, Megaworld’s differentiated office footprint continued to outperform.

Leasing revenues of Megaworld Lifestyle Malls, likewise grew 10% to P3.33 billion in the first half and 9.4% to P1.67 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 square meters of new tenant openings during the period. In the second quarter alone, tenant openings include new brands such as Japan’s home furniture and decor store Nitori, Korea’s fashion retail store 8Seconds, and China’s lifestyle novelty store KKV. The company also announced that it has expanded the retail spaces at Lucky Chinatown in Binondo with the opening of its Imperial Wing where many retail brands also opened during the first half of the year.

Hotel revenues posted the highest growth rate among all segments, rising 19% to P2.81 billion in the first half of 2025 compared to the same period last year, and 12% increase to P1.39 billion during the second quarter. The company’s hospitality business benefited from higher room rates and higher room keys compared to the previous year. During the second quarter, Megaworld announced its partnership with Accor, one of the largest hotel chains in the world, to elevate and expand its current hotel portfolio.

Real estate sales increased 9% year-on-year to P27.12 billion in the first half, and grew by a faster 10% to P14.03 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. Key contributors include Uptown Bonifacio, McKinley Hill, McKinley West, Eastwood City, ArcoVia City, Iloilo Business Park, Maple Grove, and The Upper East Bacolod.

During the first half of the year, Megaworld launched its 36th township, the 116-hectare Nascala Coast in Nasugbu, Batangas, which will be developed by its subsidiary GlobalEstate Resorts, Inc. (GERI). This P5-billion beachside township will feature residential villages, beachside condominiums, commercial hubs, as well as leisure and wellness facilities.

“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,” adds Gutierrez-Alfonso.

The company now has 36 townships across the country, covering approximately 7,000 hectares. 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 square meters by 2030, and its retail GLA to one million square meters in five years.

These targets will bring Megaworld’s total leasing portfolio GLA to three million square meters by 2030.

Megaworld remains to be one of the largest real estate companies in the country, with total assets amounting to around half a trillion pesos as of end-June 2025. This reflects the strength of its balance sheet and the company’s continued investment in high-value developments.

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