Philippines real estate firm Belle Corp reported a 13% increase in consolidated net income to Php524 million (US$8.6 million) in the three months to 31 March 2026, largely thanks to the improved performance of City of Dreams Manila.
Belle Corp is a partner of Melco Resorts & Entertainment in City of Dreams Manila by virtue of owning the land upon which the integrated resort is located, taking in a share of revenue while also receiving a regular rental fee for the use of the land upon which the integrated resort sits.
According to information filed with the Philippine Stock Exchange on Monday, Belle Corp’s revenue grew by 9% year-on-year to Php1.42 billion (US$23.4 million) – with its share in the gaming revenues at City of Dreams Manila through subsidiary Premium Leisure Corp (PLC) increasing by 12% to Php486 million (US$8.0 million).
Revenues for lease of the land and building of City of Dreams Manila held steady at Php588 million (US$9.7 million).
Separately, the company said revenue from real estate operations in Tagaytay Highlands grew by 57% to Php143 million (US$2.4 million) in 1Q26, while revenues from distribution utilities at the estate were up by 18% to Php72 million (US$1.2 million).
Pacific Online Systems Corporation, which is 50.1%-owned by PLC and provides infrastructure for the Philippines gaming industry, also posted stable revenues of Php129 million (US$2.1 million) for the period.
City of Dreams Manila’s full 1Q26 financial results are due to be released in early May by parent company Melco Resorts & Entertainment.
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