Megaworld's Q1 earnings increased by 30% to PHP 3.1B
May 17, 2022
Megaworld Premier Offices, which hit a record high in rental income in 2021, continued its momentum as it registered P3 billion during the first quarter. This was 16 percent higher than the P2.6 billion reported in the same period last year.
Megaworld Lifestyle Malls, which operates 20 lifestyle malls, also showed a tremendous improvement with rental income growing by 40 percent to P717.1 million on the back of improving foot traffic and the increase in retail locators that have restarted their operations.
Megaworld Hotels & Resorts, which operates 11 hotel properties across the country, likewise recovered, posting a 50 percent growth in revenue to P502.9 million.
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