Thursday, March 26, 2015

The 6 richest tycoons in the Philippines in the real estate business.

Forbes Magazine recently issued the roster of the 500 richest billionaires in the world. Six Filipinos, each with their real estate empires and interests, made it on the list. Take a look at the wealthiest tycoons in the country’s property sector:

6. DAVID CONSUNJI
Net Worth: $4.1 billion
Rank: 405th
A civil engineer, Consunji serves as the chairman of DMCI Holdings, which has stakes in real estate (predominantly in the housing sector), infrastructure, and construction.Their projects include Acacia Estates in Taguig; the condominium Torre de Manila; Willow Park Homes in Laguna; and the condotel Alta Vista de Boracay.

5. LUCIO TAN & FAMILY
Net Worth: $4.4 billion
Rank: 369th
Though better known for their stakes in airline (Tan controls the national flag carrier, Philippine Airlines), liquor (Asia Brewery, the second largest brewery in the country), tobacco, and banking (Philippine National Bank and Allied Bank), the Tan family also have interests in real estate through their company, Eton Properties Philippines.

4. ANDREW TAN
Net Worth: $4.8 billion
Rank: 330th
Tan, of course, is the Filipino-Chinese businessman who founded Megaworld Corporation, one of the biggest property conglomerates in the Philippines. Its flagship developments include Eastwood City, McKinley West and McKinley Hill, and Forbes Town Center, to name a few.

3. ENRIQUE RAZON, JR.
Net Worth: $5.2 billion
Rank: 291st
Head of Bloombery Resorts, Razon makes a sizeable fortune through the Solaire Resorts and Casino in PAGCOR's Entertainment City. He serves as the chairman and CEO of International Container Terminal Services, Inc., a major port management company.

2. JOHN GOKONGWEI, JR.
Net Worth: $5.8 billion
Rank: 254th
Gokongwei presides over Robinsons Land Corp. (RLC), as well as its retail arm, Robinsons Malls, a heavy-hitter in the retail sector (it
is the second biggest mall operator in the country). RLC's popular projects include The Radiance, located at Manila Bay, and The Magnolia Residences, in New Manila. Gokongwei also controls Cebu Pacific Airlines, a budget carrier.

1. HENRY SY & FAMILY
Net Worth: $14.2 billion
Rank: 73rd
The "Retail King" of the Philippines, Henry Sy and family own none other than SM, the most ubiquitous mall chain as well as the largest retailer in the Philippines. Sy serves as the founder, chair, and CEO of developer SM Prime Holdings, Inc.

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