Megaworld’s rental income recovers in Q3, up 13% QoQ

Company remains optimistic of ‘better days ahead’ as government intensifies efforts to revive the economy

Property giant Megaworld’s rental income grew 13% to P3.4-billion during the third quarter from P3-billion in the previous quarter as quarantine restrictions have been eased.

The company’s office rental business, under the Megaworld Premier Offices brand, continued its growth momentum during the quarter as it grew 6% to P2.96-billion from P2.80-billion in the previous quarter. Year-on-year, it grew 11% in this year’s third quarter from P2.68-billion during the same period last year, while during the first nine months of the year, it also grew 11% to P8.57-billion compared to P7.75-billion in the same period last year.

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