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A guide to the richest Filipinos and their real estate businesses.
What do most of the richest Filipinos have in common? A great majority of them are in the real estate business. In fact, two of the Philippines’ largest property developers – SM and Ayala Land – are owned by the Sys and the Zobel de Ayalas, ranked first and ninth in the Forbes 50 richest list.
Lamudi Philippines has compiled a list of the richest Filipinos engaged in real estate, and some of the projects they are known for.
Henry Sy and family
Known as the Philippines’ king of retail, Henry Sy and family are behind the very successful SM malls. In recent years, Sy ventured into mid-end residential condo development to take advantage of increasing spending power of overseas Filipino workers. Its very first high-rise project is Mezza Residences in Santa Mesa, Quezon City, while in late 2014 the company launched its first high-end residential condo: Air Residences in Makati. Sy also partnered with Macau’s Stanley Ho to build a billion-dollar integrated resort – City of Dreams Manila.
Lucio Tan and family
Tobacco tycoon Lucio Tan is moderately successful in real estate, but his company Eton Properties has notable projects under its belt. Tan launched his Eton Centris project in Quezon City in 2008, a 12-hectare, mixed-use project, intended primarily for BPO companies.
The pioneer of the live-work-play-learn concept in Philippine real estate, Andrew Tan is behind some of the most successful township projects in the Philippines. These include McKinley Hill, Eastwood City, and Forbes Town Center. His company Alliance Global, together with Genting Hong Kong, is about to build Resorts World Manila.
Gokongwei is the owner of Robinsons Land, a company engaged in mall, condo, communities, and hotel development. His successful Robinsons malls chain is present in 37 locations around the Philippines, while his Robinsons Residences brand is behind some of Metro Manila’s most successful real estate projects, such as Trion Towers and Sonata Private Residences.
Consunji is the owner of one of the Philippines’ largest construction companies, DMCI Holdings, with stakes in water services, energy, mining, and power generation. His real estate business, DMCI Homes, is behind some of the Philippines’ most successful mid-end, no-frills residential projects, such as Acacia Estates, Rhapsody Residences, and Raya Gardens, among others.
George Ty and family
Banker George Ty is the owner of GT Holdings, the company that owns Metrobank, one of the Philippines’ largest banks. His real estate business Federal Land developed many residential communities across the Philippines, and is now building Veritown Fort, a mixed-use project in Bonifacio Global City. It will comprise luxury condos, office towers, and the country’s third Hyatt hotel.
Jaime Zobel de Ayala and family
This is perhaps the Philippines’ oldest business family. The name Zobel de Ayala is synonymous with Makati, the country’s business and financial capital. The family is instrumental in the creation of Bonifacio Global City and Nuvali. The real estate business Ayala Land Corp. has massive townships in the pipeline, including Arca South, Circuit Makati, Alviera, and Vertis North, among others. It is also the most diversified real estate company in the Philippines, with stakes in residential and commercial property development, mall operation, construction, hotels and resorts, and property management.
Tony Tan Caktiong and family
Fast-food king Tony Tan Caktiong is the name behind Jollibee, the country’s largest fast-food chain. He also partnered with Mang Inasal founder Edgar Sia to establish Double Dragon Properties, with stakes in residential condos and shopping mall development.
Former senator and presidential candidate Manny Villar is the owner of Vista Land, the country’s largest homebuilder. The company owns Camella Homes, a subdivision developer present in about 200 locations across the Philippines and has built over 250,000 houses in its 38-year history. The company has also forayed into high-end condo, mall, and upscale township development.