Megaworld Properties & Holdings, Inc. converted into a public company in June 15, 1994.

The initial venture of the company was One Beverly Place, a 32-story luxury residential condominium built along Greenhills' "Golden Mile" at Annapolis St., Greenhills, San Juan. One Beverly Place ranks as the one of the tallest residential condominiums in Metro Manila. All 130 units sold out in record time, establishing a trend for the succeeding projects of the company.

In 1995, Megaworld Properties & Holdings, Inc. saw its continuing surge to new levels of earnings growth amid an increasingly competitive environment resulting from an improving economy. net income reached a high of P958 million, up to 130 percent over the 1994 level. A 95% stock dividend was declared in February 1995.

"Megaworld Properties & Holdings, Inc. is hereby awarded the DEVELOPER OF THE YEAR for 1995 by the Chamber of Real Estate and Builders' Associations, Inc. (CREBA). The Company is cited for its role in national development and its contributions to the real estate industry via innovations that have greatly enhanced the industry and set the pace for modern development in the country."

In 1996, spurred by the growth in sales of urban residential projects and of middle-income housing, real estate revenues for Megaworld registered a high of P9.9 billion from P7.9 billion of 1995. Net income from operations surged 149 percent to P3.55 billion from P1.43 billion a year in 1995. Net income after tax rose to P1.990 billion from the previous year's P958 million.