Megawide Construction Corp. reported a 14 percent increase in net income to P210 million for the first quarter of 2025, driven by the strong performance of its real estate and landport segments, as well as steady construction margins.
“Our performance reflects our commitment to build on our early gains in 2024. For instance, we have already recorded the initial net income contribution from our property development arm after our acquisition in 2023, which gave us a boost in the first quarter,” said Megawide chairman and chief executive Edgar Saavedra.
The property segment delivered its highest quarterly revenue at P397 million and contributed to net income for the first time.
The gains were fueled by projects such as My Enso Lofts, The Hive, Northscapes, Modan Lofts, and One Lancaster Park. As of March 2025, the segment held over P12 billion in sales inventory, positioning it for sustained revenue generation in the coming quarters.
Landport operations also contributed to the earnings growth, posting P136 million in revenue, up 27 percent from the same period last year.
Increased passenger traffic at terminals, which averaged 156,570 daily, and higher spending of passenger helped lift commercial and office space revenues.
