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Property developer Megaworld Corp. said Thursday net income attributable to shareholders of the parent company rose eight percent year-on-year to P4.4 billion in the first quarter of 2024 on higher sales from its residential, mall and hotel businesses.
Consolidated revenues from January to March expanded by 16 percent to nearly P19 billion as core businesses registered solid growth during the period. Real estate sales grew 29 percent to P12.1 billion, boosted by strong bookings and unit sales, while leasing revenues increased 6 percent to P4.6 billion in the first quarter from the same period last year.Mall revenues jumped 20 percent to P1.5 billion, driven by higher tenant sales and improvement in occupancy which stood at 93 percent.Megaworld’s hotel and resort business registered a 39-percent increase in sales to P1.
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