Latest news with #LourdesGutierrez-Alfonso
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GMA Network
05-08-2025
- Business
- GMA Network
Megaworld posts P12B net income in H1 2025, up 23%
Property giant Megaworld Corp. saw its bottom line grow by double digits in the first half of 2025 due to the good performance of its core businesses—residential, leasing, and hospitality. In a statement on Tuesday, Megaworld said its net income for the January to June 2025 period stood at P12.09 billion, up 23% year-on-year. For the second quarter alone, the company's earnings totaled P6.26 billion, up 31% from a year earlier. "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,' said Lourdes Gutierrez-Alfonso, Megaworld president and CEO. Megaworld also posted revenues of P43.09 billion in the first half of 2025, up 10% year-on-year. —VBL, GMA Integrated News
GMA Network
11-06-2025
- Business
- GMA Network
Megaworld to spend P2.5B to redevelop Eastwood City
Listed township developer Megaworld Corp. is set to spend P2.5 billion to redevelop Eastwood City, its first township development spanning 18.5 hectares that was first launched in 1997. Megaworld said the redevelopment will involve upgrading its commercial areas and lifestyle malls including Eastwood Citywalk, Eastwood Mall, and the Eastwood Mall Open Park, the ongoing enhancement of Eastwood Richmonde Hotel. This also includes the phased refurbishment of office towers, which started with the renovation of the IBM Plaza which was recently completed. Renovations are set to be rolled out in the coming months, covering upgrades to the lobbies, facilities, and amenities of additional office buildings and residential towers. 'Eastwood City holds a special place in our history as Megaworld's very first township, and this redevelopment reflects our commitment to keeping it vibrant, relevant, and future-ready,' Megaworld president Lourdes Gutierrez-Alfonso said in an emailed statement. 'We are not only preserving its legacy but also reinventing it into a township of the future — setting an even higher standard for integrated urban living,' she added. Megaworld earlier this year announced plans to expand with at least two more townships in over 300 hectares of land in growth areas in Luzon and Visayas. The company's real estate portfolio includes residential condominium units, subdivision lots and townhouses, as well as office projects and retail spaces. Its businesses include real estate sales, leasing of office spaces, and management of hotel operations. Its subsidiaries include Richmonde Hotel Group International Limited, Eastwood Cyber One Corp., Empire East Land Holdings Inc., Global-Estate Resorts Inc., and Bonifacio West Development Corp. —AOL, GMA Integrated News
