Megaworld earns P10B in nine months
Megaworld Corp. booked a 11 percent rise in its nine-month income to P9.98 billion, driven a 19 percent jump in revenues from its office and commercial leasing business.
Consolidated revenues rose five percent to P37.1 billion with rental income growing to P8.82 billion. Revenues from hotel operations increased eight percent year on year.
“Our rental business remains to be a key contributor to our consistent growth, and we see this to become stronger in the coming years as we complete more office and commercial buildings as well as malls in our townships across the country,” said Megaworld SVP and treasurer Francis Canuto.
“There is also a remarkable growth in our hotel business as we open more hotels in Metro Manila, Boracay, Iloilo, Cebu and Tagaytay,” he added.