Megaworld subsidiary Global-Estate Resorts, Inc. , the country’s leading developer of integrated tourism-estates, registered a 32 percent growth in net income to P848 million during the first half of 2022 from P643 million in the same period last year.
The improved performance was backed by strong real estate sales during the first six months of the year or 29 percent increase to P2.3 billion as reservation sales reached P8.4 billion. Hotel revenues posted the biggest growth from year-ago levels, posting a 253 percent increase to P158 million as compared to the same period last year, largely driven by the return to leisure and increasing tourist arrivals.
She added that, “Likewise, the continued improvement in mobility has allowed for higher completion of our residential projects, particularly during the second quarter.”
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