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Desk EditorAmy R. Remo

EditorTheresa S. Samaniego

GUARDIANSOF REAL ESTATE

By Vaughn Alviar@INQ_Property

Imagine structures risingwithout industry baselines,accountabilities, values, goldstandards and best practices.That would spell trouble for

the lives under the roofs of thosebuildings, and a volatile rela-tionship between real estatecompanies that deliver them andthe end-consumers that wouldunderstandably feel duped.

Thankfully, such is not thecase for the Philippines.Guardians have stepped in tosafeguard the industryso that it wouldn’t dis-

Apart from unifying subdivision and condominium developers across the nation to look after the good of the housing industry, SHDA has also intentionally builtlinkages with various government agencies and instrumentalities.B10-2

PASSING OF AN ERA /B10-4

Centralized Home Financing Bill filed in Congress

L awmakers have urged for thepassage of a bill that will entitleincome-earning Filipinos tolow-interest, long-term hous-

ing loans, even if they are not mem-bers of state run pension fundagencies.

Majority Floor Leader Rep. Ferdi-nand Martin G. Romualdez and Rep.Micaela S. Violago filed earlier thisyear House Bill No. 3837 and HouseBill No. 3541, respectively, to establishthe Centralized Home Financing Pro-gram (CHFP) that will, among others,initiated a fully-operational sec-ondary mortgage market system forhousing.

This meant that Filipinos will stillbe able to avail of housing loans bytapping key fund sources identified inexisting laws, even if they are notmembers of the Social Security Sys-tem (SSS), Government Service Insur-ance System (GSIS), or the Home De-velopment Mutual Fund (HDMF),which is also known as Pag-IBIGFund.

If enacted into law, the bills willamend key provisions of Republic ActNo. 7835 or the Comprehensive andIntegrated Shelter Finance Act of1994.

The proposed amendmentstressed that long-term and cheapsources of funds for housing remainan important key in fulfilling govern-ment’s Constitution-driven role toprovide homes for its people.

The current housing backlog esti-mated at about 6.57 million units andthe slow pace of production howeverindicate that government effortshave fallen short in addressing ourproblematic housing situation.

“This is an issue that heavily im-pacts on the economic and social de-velopment of the nation,” the authorsexplained.

Homebuyers-centeredBased on the bills, the CHFP shall

be designed exclusively for home fi-nancing assistance to individualhome loan borrowers with no compo-nent for development loans, thus en-suring the use of funds strictly forshelter acquisition by the homeless.

It shall likewise provide emphasison socialized and low-income benefi-ciaries with funding and lendingmechanisms designed to ensure con-tinuing viability, stability and sus-tainability.

P270B fundingThe resulting surge in the num-

ber of housing beneficiaries wouldbe covered by an initial P270-billionfund, which will be sourcedthrough bond investments by theSSS amounting to P25 billion; GSIS,P25 billion; a minimum of P70 bil-lion or all of Pag-IBIG Fund’s in-vestible funds for housing; P100billion from the unused or residualagri-agra funds of banks; and a P50billion budget allocation for infor-mal settlers.

These bond investments shall en-joy mandatory guaranty cover fromthe Home Guaranty Corp., reorga-nized as the Philippine GuarantyCorp. through Executive Order No. 58issued by President Duterte in 2018.

If approved, the program’s com-ponents will include the CHFP loansprogram under Pag-IBIG Fund whosecollection efficiency ratio reached anall-time high of 90.7 percent in 2017;and the CHFP securitization, capitaland secondary market operationsprogram to be managed by the Na-tional Home Mortgage Finance Corp.(NHMFC).

Upon effectivity of the bill, all di-rect home lending operations of theSSS, GSIS and Pag-IBIG Fund shallcease and will be fully undertaken byCHFP.

Strict credit standardsTo ensure the highest levels of

collection efficiency, homebuyerqualification shall be subject to strictcredit standards formulated by thePag-IBIG Fund. Amortization pay-ments shall be made through salary

deduction, and employers—whether in the public or private sec-tor—will be authorized by law to actas withholding agent with corre-sponding penalties for non-compli-ance.

With ample funds pooled underthe mortgage-backed securitizationmechanism—fully clothed with en-hancement measures on top of themandatory guaranty cover—the gov-ernment can offer home loanspayable up to 30 years.

Loans for socialized housing shallbe P1.5 million and below at 3 percentfixed interest rate. For loans amount-ing to more than P1.5 million up toP3.199 million will have a fixed inter-est rate of 4 percent for economichousing. All loans are exempt fromvalue added taxes (VAT).

Private sector supportIn a recent meeting of the Com-

mittee on Housing and Urban Devel-opment at the House of Representa-tives, the Chamber of Real Estate &

Builders’ Associations, Inc. (Creba)expressed its full support to the bills.It said that having this system inplace will give government the op-portunity to speedily resolve the crit-ical housing problem by integratinginto the formal stream the millions inthe informal sector.

Creba national chairman CharlieA. V. Gorayeb said that “the com-pounded impact on the purchasingpower of the low-income andmarginalized can revitalize and ex-pand the market for socialized andeconomic types of housing projects inthe long run.”

Creba national president NoelToti M. Cariño meanwhile said hesees an opportunity to reverse thecurrent slow pace of housing produc-tion by raising the capability of homebuyers though the proposed mea-sure.

The group has long been pushingfor legislative measures under its 5-Point Housing Agenda which theyhope will boost housing production

to reach the 500,000-unit level eachyear or a total of 10 million homes in20 years to achieve its target of pro-viding “a home for every Filipino.”

Speeding up productionData from key shelter agencies

showed that while the years 2017 and2018 saw better days for housing de-velopment with a production recordof 203,726 and 195,014 units, respec-tively, the decline in socialized hous-ing production, both as main projectand as compliance to the balancedhousing requirement of law is notice-able.

Developers have since lamentedhow despite the unfilled housing gap,the property sector continues to suf-fer heavily from prolonged licensingand permitting processes, fiscal dis-incentives and other administrativeand regulatory delays.

With mass housing develop-ment’s globally-recognized poten-tial to pump-prime the economy,fulfilling the bills’ annual housingproduction targets can open newjob opportunities, increase incomefor other related industries andgenerate additional tax revenuesfor government.

While some analysts might con-tend that the 6.57 million housingbacklog might even be a conserva-tive count considering the degreeof homelessness that can be easilygleaned everywhere in the country,it threatens to balloon to even big-ger proportions if supply and ac-cess fail to cope with the consistentrise in demand as a result of popu-lation increase, rapid urban migra-tion, and affordability gaps, andother factors.

This meantthat Filipinos

will still be ableto avail of housingloans by tappingkey fund sources

identified inexisting laws,even if they

are not membersof the Social

Security System(SSS), GovernmentService Insurance

System (GSIS),or the Home

DevelopmentMutual Fund

(HDMF), which isalso known asPag-IBIG Fund.

Congressman Ferdinand Martin G.Romualdez, Majority Floor Leader

Congresswoman Micaela S. Violago

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missively say “quality comeswith a price” and shrug off shod-dy work. These vanguards havegalvanized real estate develop-ers across the country to makesure they all achieved—notsimply self-centered growth,but also nation building, ac-countability to consumers and aheart for the homeless.

It is indeed a good thing wehave Chamber of Real Estate &Builders’ Associations, Inc.(Creba), Subdivision and Hous-ing Developers Association Inc.(SHDA), and the Organizationof Socialized and EconomicHousing Developers of thePhilippines Inc (OSHDP) guard-ing the safety and interests ofthe nation. Without these orga-nizations seeing to it that profitis balanced with quality workand social responsibility, manywould may have perished un-der the rubble of failed con-struction, and the real estateindustry may not have con-tributed to the nation’s growthin the way it significantly has.

SUBDIVISION AND HOUSINGDEVELOPERS ASSOCIATIONSHDA has also been a pow-

erful voice on issues of thePhilippine housing industry.

SHDA is the Philippines’major and leading organizationof housing developers under-taking both horizontal and ver-tical projects. Its mission hasbeen to unite subdivision andcondominium developersacross the nation to look afterthe good of the industry, and toensure the highest standards ofethical conduct and profes-sionalism among players.

SHDA goes back to the Sub-division Owners Association ofthe Philippines (SOAP), whichwas registered with the Securi-ties and Exchange Commissionback in 1970. That makes it anearly 50-year-old association.

The former entity wanted tounite subdivision owners anddevelopers to stimulate the realestate sector in ways alignedwith public welfare. Post-EdsaRevolution, as President Cora-zon Aquino reorganized the Na-tional Shelter Program to ad-dress the needs of low- andmiddle-income Filipinos, SOAPrenamed itself into SHDA.

After aligning with theagenda, SHDA was recognizedfor its central role in the firsthousing boom in the countrybetween 1987 and 1992, duringwhich 400,000 housing unitswere delivered and mortgageloans were taken out.

Still dedicated to providingquality housing nowadays, theassociation came up with thePhilippine Housing IndustryPlan 2012-2030 in cooperationwith the Center for Researchand Communication of theUniversity of Asia and the Pa-cific. In the plan, SHDA said thehousing backlog can peak at12.5 million units in 2030.

To eliminate this dire fore-cast, the association has sincecommitted itself to buildingmore affordable homes with aspecial focus on socialized,economic and low-cost op-tions. Complementing its ef-forts would be the comprehen-sive government housing sub-sidy, effective end-user financ-ing and an improved housingregulatory environment.

SHDA sees the full support

of the government as a neces-sary component of its success.

Thus, it has intentionallybuilt linkages with various gov-ernment agencies and instru-mentalities. Initiatives includepartnering with the NationalStatistics Office, the League ofMunicipalities, Department ofthe Interior and Local Govern-ment, and Bureau of InternalRevenue, among others. In leg-islature, it has attended hear-ings and meetings at both theUpper and Lower House.

SHDA also takes pride in itsinstrumental role in the pas-sage of Republic Act 9485, alsoknown as the Anti-Red TapeLaw. To avoid misdoings fromits side of the fence and in aneffort to further its partnershipwith government, it recentlybecame an accredited privatesector arm of the government.

Through this move, it beganto actively police members fortheir compliance with variousregulations related to propertydevelopment business.

SHDA has likewise con-verged with the other privatesector institutions and organi-zations to forward their com-mon thrusts on shelter andurban concerns, including reg-ulations, policies, incentivesand new technologies.

CHAMBER OF REAL ESTATE ANDBUILDERS’ ASSOCIATIONSCreba started out in Octo-

ber 1973 as a union of Philip-pine business and trade associ-ations in the real estate, hous-ing and construction industry.The chamber was founded byreal estate guru Manuel M. Ser-rano—a lawyer, law professor,foreign affairs officer, land andhousing developer and agro-industrialist. He was thenjoined by industry bigwigs.

With consistent effort innearly five decades, it is now anenormous umbrella organiza-tion of over 4,000 firms, associ-ations and individuals engagedin development, building andconstruction, technical consul-tancy, marketing, supplies andother related services. It main-tains about 40 chapters both inthe country and overseas.

The organization’s size didnot make Creba a snooty enti-ty. If anything, it taught leadersand giants in the industry toimbibe a social consciencewhenever entering develop-ment ventures. For Creba,there must be consciousnessamong developers that real es-tate transactions need to sus-tain public faith. Furthermore,self-interest must always betempered by the general wel-

fare. Such perspective enabledcompanies to see the impor-tance of people in their works.

Expanding its people-cen-tric philosophy into the arenaof social equity, Creba specifi-cally zeroed in on the concernsof the homeless. The chamberbelieves that poor and low-in-come Filipinos also deservehomes with aesthetics, func-tionality and durability, amongothers.

In line with this, Creba hasencouraged members and oth-er stakeholders to participatein solving the nation’s housingbacklog that has now hit over6.57 million units and growsannually by up to 300,000units. Creba also fought on theside of affordable socializedhousing and comprehensivehome financing, equitable landaccess and elimination of in-equitable taxes in the housingindustry seeing all these as ul-

timately beneficial to Filipinos.Creba has dedicated itself

to the long-term vision: “AHome for Every Filipino: 10Million Homes by 2040.” Thestatement sums up Creba’s 5-point Agenda for Housing, awell-studied lineup of policyand legislative reform propos-als that would enable a housingproduction of 500,000 unitsper year over two decades, andalleviate the housing backlogonce and for all.

Creba’s agenda covers long-term and affordable funds forsocialized and economic hous-ing; affordable homes in urbanareas; equitable allocation oflands for human settlements,agriculture and the environ-ment; efficient housing regula-tions; and a full-fledged humansettlements and urban devel-opment department.

Creba enjoys a solid trackrecord that makes its commit-ment to the 2040 target moreachievable than far-fetched tothose who are no stranger tothe real estate development in-dustry. Since its inception,even through the martial lawera, the chamber crusaded forthe interests of the homelesspoor.

It may also be credited forlandmark housing laws and en-tities: Social Housing Act of1982, Urban Development andHousing Act of 1990, Compre-hensive and Integrated ShelterFinance Act of 1994, even thecreation of the National Hous-ing Authority in 1975 and thePag-Ibig Fund in 1980.

ORGANIZATION OF SOCIALIZEDAND ECONOMIC HOUSING

DEVELOPERS OF THE PHILIPPINESAlso contributing to the ef-

forts to meet housing needs onour shores is OSHDP. As a mat-ter of fact, the projects of OS-HDP members account for themajority of mass housing pro-jects in the country.

The organization identifiesitself as “the leading nationalorganization of mass housingdevelopers in the Philippines.”It dates back to 1995, after so-cialized housing developers as-sisted by the National HomeMortgage Finance Corp.’s de-velopment financing decidedto come together as a collectivevoice in the housing sector.

At present, the group hasover 130 regular members andover 40 affiliate members. Itengages its members throughvarious meetings, the regularrelease of the Shelter Post andupdates relevant to the field,among others.

True to its name, OSHDPespouses socialized and eco-nomic housing. But, speakingof standards, it wants the resi-dential projects to meet thestandards of affordability, dig-nity and decency.

The dedication to afford-able housing stems from a pas-sionate understanding that op-tions for low-income house-holds can help the nation real-ize a vibrant, efficient, produc-tive and responsive housingsector. Housing, in turn, con-tributes to the bigger political,social and economic life of thecountry.

Appreciating those facts,OSHDP found that the Fil-ipinos’ grasp of housing hasbeen limited largely becausethe body of data and technicalstudies has also been insuffi-cient. To respond to this void,the organization has endeav-ored since 2015 to provide lo-calized and scientific knowl-edge through the Center forHousing and Independent Re-search Synergies or CHAIRS.

OSHDP also helped evolveseveral policies in the Philip-pines. Among others, it hascontributed to the regular, pe-riodic price ceiling adjust-ments for socialized and eco-nomic housing packages; theactive review of housing andsubdivision design standards;and important amendments tothe Urban Development andHousing Act, the Real EstateService Act and National LandUse Act (NLUA).

Populated by industry ex-perts and empowered by a cul-ture of participation, OSHDPhas lent its insights to severalgovernment agencies.

OSHDP played a major partin the crafting of the NationalInformal Settlements Upgrad-ing Strategies as the only rep-resentative of the private de-velopers. It works with the Cli-mate Change Commission tochampion green programsamong its members.

Through ups and downs inthe local housing industry, ithas remained a steadfast part-ner of the government, partic-ularly Pag-Ibig Fund, in build-ing quality and affordablehousing in the country.

The organization currentlychampions the 6-Point PrivateSector Agenda that, amongothers, wants the enactment ofa more balanced NLUA, hous-ing assistance and incentiveprograms, streamlined proce-dures in the bureaucracy,green and resilient housing,and vertical developments forurban low-income earners.

Then and now, OSHDP haspersistently advanced many ofthe essential issues of the dayto seek for solutions that canbenefit the mass housing in-dustry and relative industries.

GUARDIANS OF REAL ESTATEFROM B10-1

These vanguards have galvanized real estate developers across the country to make sure they all contributed to nation building and practiced accountability to consumers.

Creba has dedicated itself to the long-term vision: “A Home for Every Filipino: 10 Million Homes by 2040.”

Organizations such as Creba, SHDA and OSHDP see to it that profit is balanced with qualitywork and social responsibility.

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SHDA WARMLY WELCOMESSEC. EDUARDO DEL ROSARIO

By Amy R. Remo@amyremoINQ

T he Subdivision and Hous-ing Developers AssociationInc., the major and leadingorganization of housing

and real estate developers in thePhilippines, lauded the muchawaited appointment of Eduar-do del Rosario as Secretary ofthe Department of HumanSettlements and Urban Devel-opment (DHSUD).

SHDA—which has long beenchampioning shelter for everyFilipino—said the former chair-man of the Housing and UrbanDevelopment CoordinatingCouncil (HUDCC) has been high-ly instrumental in helping theorganization formulate, advo-cate, and push for critical policyreforms that address concernsplaguing the housing industry.

Addressing chokepointsIn his capacity as HUDCC

chairman, Del Rosario workedwith SHDA on many occasionsand had adeptly addressed themajor choke points raised bythe group in the productionprocess of housing units for theNational Shelter Program.

SHDA, led by its chairmanJeffrey T. Ng and presidentRaphael B. Felix, was witness toDel Rosario’s responsive andconscientious work ethics as heleaves no stone unturned tosynchronize the housing agen-cies, and enhance a strongerpartnership with all housing in-dustry stake holders.

“SHDA is proud to say thatSecretary del Rosario possessesintegrity and high moral value.He is honest, hardworking anddeserving to be appointed assecretary of the DHSUD. He canmuster the support of the pri-vate sector and all stakeholderstowards addressing the coun-try’s housing need,” the groupsaid in a statement.

His character and achieve-ments will indeed bode wellwith a group who has long beenat the forefront of helping thegovernment address the coun-

try’s housing need and promot-ing developers’ interest for amore vibrant, productive andsustainable housing industry.

SHDA has thus committed towork with Del Rosario towardsthe resolution of urgent housingconcerns, including sustainablefinancing for housing, rational-ization of housing permits andlicenses, access to land for hous-ing, determination of price ceil-ing and standards, incentives forsocialized and low-cost housingdevelopers, among others.

Salient pointsThe DHSUD was established

following the passage into lawof Republic Act No. 11201, whichseeks to consolidate housingagencies. The creation of thisdepartment was deemed crucialby many real estate developersand industry organizations whoexpect the agency to be instru-mental in ensuring a more fo-cused and coordinated ap-proach towards addressing thecountry’s housing backlog.

As of 2017, the housing back-log was estimated to havereached some 6.57 million units.

Under the law, the DHSUDshall have powers and functionsin four key areas: policy devel-opment, coordination, monitor-ing and evaluation; environ-mental land use and urban plan-ning and development; housingand real estate regulation; andhomeowners association andcommunity development.

Specified in its policy devel-opment function is the formula-tion of a national housing andurban development policies,strategies and standards; hous-ing finance and production poli-cies; housing policies and pro-grams; and a framework for re-silient housing and human set-tlements. The Housing andLand Use Regulatory Board(HLURB) meanwhile is to be re-constituted into an adjudicato-ry body called Human Settle-ments Adjudication Commis-sion (HSAC) and shall be at-tached to the Department forpolicy, planning and programcoordination only.

Apart from merging HUDCCand HLURB into a new depart-ment, the law also provides thecreation of a National HumanSettlements Board which will“facilitate a more holistic, syn-chronized and synergistic ap-proach in directions on policyand program formulations ofthe sector and all of the otherkey shelter agencies.”

The Department shall havefour attached corporationsnamely the National HousingAuthority (NHA), NationalHome Mortgage Finance Corp.(NHMFC), Home DevelopmentMutual Fund (HDMF) and SocialHousing Finance Corp. (SHFC).

Also to be created are Hous-ing One Stop Processing Cen-ters (HOPCs) to address the con-cerns of rationalizing and fast-tracking the processing and is-suance of all requirements andrelated permits and licenses.

Further in its mandate is theidentification of governmentlands suitable for housing andrural development within 180days from the effectivity of thelaw. This is to be done jointlywith the Department of Envi-ronment and Natural Resources(DENR), Department of Agrari-an Reform (DAR), Departmentof Agriculture (DA), Departmentof Interior and Local Govern-ment (DILG) and Land Registra-tion Authority (LRA).

Secretary delRosario possessesintegrity and high

moral value.He is honest,

hardworking anddeserving to beappointed assecretary oftheDHSUD.

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been built by SMDC since 2003.Most of its developments arelocated in central business dis-tricts, the Mall of Asia complex,and on the outskirts of MetroManila, such as the provincesof Cavite, Bulacan, and Pam-panga.

SMDC’s condominium de-velopments offer top-notchamenities, such as Olympic-size swimming pools, joggingpaths and libraries, among oth-ers, to promote a healthylifestyle to their residents.

Sy was a generous philan-thropist as he was a donor tocharitable causes, allottingmillions of pesos each year tofinance the college scholar-ships of thousands of under-privileged Filipino youth,among others.

Through SM Foundation,Sy also donates huge amountsto healthcare, disaster re-sponse and farmers’ training.

He stepped down as chairof SMPHI in 2017, assuming thetitle of “chair emeritus” andmaking sure that his trusted al-lies as well as his children “gotit all” for the Filipino con-sumers.

popped up across the country,they helped define the growing

mall culture in the Philip-pines. Some of them have

ice skating rinks, a fea-ture that made SM Su-permalls stand out.

From being just aretail visionary, Syventured into prop-erty development,giving hundreds ofthousands of Fil-ipinos a chance to

own a comfortableand affordable home.

Through its units andsubsidiaries, SMPHI also

builds leisure homes, offices,hotels and convention centers.As of March this year, SMPrime counts 11 office build-ings, six hotels, and seven con-vention centers and trade hallsin its portfolio.

SM Prime’s wholly-ownedunit SM Development Corp.(SMDC) is one of the leadingproperty developers for af-fordable condominium units.It unveiled its first condomini-um project, the Chateau Ely-see, in Parañaque City in 2003.

As of March this year, some126,780 residential units have

inaugurated in 1985.He then grew it into a retail

empire with its 72 SM Su-permalls in the Philippines andseven in China generating P15billion in revenues in the firstthree months of 2019.

SM Prime Holdings Inc.(SMPHI), which owns SM Su-permalls, estimates an averagedaily foot traffic of 4.2 millionin the country and 300,000 inChina.

As more of Sy’s malls

to the top. He was 12 when heleft an impoverished little vil-lage in Jinjiang, a county ofQuanzhou City in China’sFujian province, andflew to the Philippinesto seek a better life.

“Life was hard inChina and I imag-ined that life in thePhilippines was bet-ter because my fa-ther was able tosteadily send us mon-ey,” Sy was quotedsaying in an interviewwith Sunday InquirerMagazine a decade ago.

Sy first started sellinggoods in his father’s “sari-sari”(convenience) store beforeopening in 1958 his first twostores, dubbed Shoemart, onRizal Avenue and Carriedo. Heopened another store in 1963 inMakati and in Cubao in 1967.

He just kept going fromthere. He then launched hisfirst SM Department Store in1972 in Manila and rebrandedhis Makati store into a depart-ment store. In the 1980s, moreSM Department Store branch-es were opened, until Sy’s firstmall—SM North Edsa—was

As the founder of a shoestore in downtown Manila in1958, the late Henry Sy Sr. “gotit all” to build a chain of storesand turn it into a multibillion-dollar business empire.

The success of the over 200companies under the SM com-pany made him No. 1 in theForbes Philippines rich list for11 years in a row before hisdemise in January this year atthe age of 94.

His net worth at the time ofhis death was estimated at $19billion, making him the 53rdwealthiest person in the world,according to Forbes.

His contemporaries sangpraises for him for his visionand drive, calling him “one ofthe great pillars of Philippinebusiness.”

In the words of Jose CuisiaJr., the country’s former am-bassador to the United Statesand ex-governor of BangkoSentral ng Pilipinas, Sy was “agenerous visionary who want-ed to provide Filipinos a betterlife” through education, and bycreating jobs and providing op-portunities for growth and ad-vancement.

But Sy had to work his way

HENRY SY SR.

PASSING OF AN ERABy Marielle Medina,Kathleen de Villa, Ana Roaand Arianne SuarezInquirer Research

T he country’s prominenttycoons led the biggestconglomerates throughwhich they further grew

their empire while contributingto nation-building, job creationand income generation.

They are also some of thewealthiest people in thecountry, whose respective com-panies have poured in massiveinvestments in different indus-tries, and spearheaded effortsto continually evolve and caterto the market’s needs in an ev-er-changing landscape.

In the real estate scene,these tycoons have likewisesteered their companies to de-velop pioneering concepts inthe office, residential, enter-tainment, leisure, hospitalityand even industrial segments.

The late Henry Sy Sr., GeorgeTy, John Gokongwei Jr. and WillieJ. Uy worked their way frommodest backgrounds to the topof the business chain with pas-sion, grit and perseverance, en-abling them to leave an enduringimpact in their every endeavor.

GEORGE TYBusiness icon and philan-

thropist George S.K. Ty,founder of the Metrobankgroup, was prominentlyknown for the fortune hebuilt in banking and auto-motive manufacturing.

The business house ledby the Ty family, GT Capi-tal Holdings is now a di-verse business conglomer-ate with successful jointventures in Toyota MotorCorp., AXA Insurance and OrixMetro Leasing, to name a few.

Ty was motivated to set uphis own bank after experienc-ing for himself how difficult itwas for businessmen to getloans from banks. He obtaineda license in 1961 and openedMetrobank in Binondo in 1962.The bank is now among thecountry’s largest, with totalassets exceeding P2 trillion.

In 1979, Ty set upMetrobank Foundation. Hisphilosophy was: “Whatever Ispend for my personal and fam-ily needs and wants, I should beable to give the same or evenmore for charity since there aremany who are needy.”

In 1988, he set up a localjoint venture company withJapanese automotive giant Toy-ota that would eventuallyevolve into the automotivepowerhouse in the Philippines.

Aside from these businessventures, Ty also had stakes inone of the pioneers in thePhilippine real estatescene—Federal Land Inc.

As one of the country’smovers in the real estate in-dustry and as a builder of Fil-

ipino homes, Federal Land isbehind many large-scale de-velopments: residential con-dominiums, office buildings,retail and commercial centers,mixed-use townships andmasterplanned communities.

The property developer’smission is to “create dynamiccommunities for generationsto enjoy,” and under the lead-ership of Ty, Federal Land hasmade bold investment moveson massive projects targetedto offer properties with thebest value for money.

Federal Land began inManila as Federal Homes in1972. Since then, Federal Landhas built several prime prop-erties that not only add pres-tige to the evolving skyline ofthe country but also provideinvestment opportunities totheir partners.

Federal Land made its markin cities across Metro Manilaand the country with severalprized properties, including the47-storey GT Tower Interna-

tional in the Makati CentralBusiness District, the GrandCentral Park township, the 66-storey Metrobank Center, the

premier Grand Hyatt Hoteland Grand Hyatt ManilaResidences in BonifacioGlobal City; the luxury ad-dress of Marco Polo Resi-dences and the Marco PoloPlaza Hotel in Cebu City;the resort-inspired Six Sens-

es Residences and Bay Gar-den Club and Residences, as

well as the Blue Bay Walk fami-ly-and-lifestyle commercialstrip in Pasay City.

Aside from luxury and pre-mier residences, FederalHomes also built low-cost,world-class homes for fami-lies and communities throughtheir subsidiary, HorizonLand. Properties they devel-oped include the Four SeasonsRiviera in Binondo and thePeninsula Garden MidtownHomes in Paco, the QuantumResidences near Manila’s uni-versity belt, The Capital Tow-ers in Quezon City, and theMarquinton Residences, Trop-ical Garden City and SienaTowers in Marikina City.

The empire Ty has built isevident not only in the struc-tures that are physically visi-ble but more so in the impacthis business ventures had inchanging the lives of Filipinos,providing support through thebanks and bancassurance, giv-ing Filipinos tools through au-tomobiles and power genera-tion, and providing homes andspaces through real estate.

JOHN GOKONGWEI JR.John Gokongwei Jr. has left

his mark in the business andinvestment industry. A game-changer who spearheaded dif-ferent enterprises, his impact inthe real estate industry standsout for touching the lives ofFilipinos across all walks of life.

Among his business ven-tures was Robinsons Land Corp.(RLC), one of the active playersin the property sector which hascontinuously evolved in re-sponse to the needs of society.

To Filipinos, commercialmalls are not just a place forshopping. They are also placesfor leisure, where families bondand friends catch up. RLC’sRobinsons Malls stays true tothis Filipino mall culture.

Through the Robinsonschain of malls, Gokongwei pro-vided to Filipinos a space fordining, recreation and shoppingwithout compromising the ac-cessibility, comfort and securityof every establishment.

RLC does not just take careof the people but also the envi-ronment.

As one of the leading mallchains and biggest consumersof energy in the country, Robin-sons Malls does its part to pro-tect the environment by usingclean energy to reduce carbonfootprint. In 2017, RLC startedinstalling solar farms on theroof-decks of its shoppingmalls, thereby using less elec-tricity produced by the burningof fossil fuels.

Through Gokongwei’s vi-sion, RLC became a front-run-ner in providing office space tocall centers, business processoutsourcing companies, and lo-cal and multinational corpora-tions in the country, with sitesin over 13 key cities and munici-palities nationwide.

Among RLC’s propertiesinclude the cyberparks, whichcater to the Philippines’ grow-ing information technology and

business process managementsector. RLC continues to ad-

dress the demand for high-quality office spaces notjust in the metro but al-so in provinces by ex-panding its officeportfolio and provid-ing vibrant and lastingspaces to its clients.

RLC did not justrevolutionize theworkplace, but also the

homes of Filipinos,shaping modern

lifestylethrough its

residentialdivision. It

caters tothe resi-

dential, leisure and retirementneeds of the market and hasbuilt successful mixed-useproperties in Metro Manila.

Whether someone is lookingfor a place in the fast-paced cityor a relaxed home away fromthe bustling metropolis, Robin-sons has a perfect setting forthem, still with the convenientlocation it never fails to pro-vide.

RLC, through Gokongwei’sefforts, does not just offer aplace for every lifestyle, but al-so for every financial capacitywith its affordable condomini-ums and homes. It has threecondominium brands—theRobinsons Residences, Robin-sons Communities and Robin-sons Luxuria—and one hous-ing brand—Robinsons Homes.

As a leading hotel group inthe country, Robinsons Hotelsand Resorts, through the years,has provided utmost comfortand quality to the Filipino peo-ple in need of accommodation.

RLC offers a diverse selec-tion of hotels and resorts.Ranging from affordable valueproperties (Go Hotels) to five-star international hotels(Crowne Plaza Manila Galleria,The Westin Manila SonataPlace and Dusit Thani MactanCebu) and midmarket hotels(Holiday Inn Manila Galleriaand Summit Hotels and Re-sorts), there is an accommoda-tion for everyone.

Gokongwei left a legacy notjust through the establishmentshe built, but also through the in-tegrity, dynamism and couragethat he imprinted on RLC, in theservice of the Filipino.

In his more than threedecades in the real estate indus-try, the late Willibaldo “Willie”J. Uy, 59, had a vision to provideevery hardworking Filipino anaffordable and decent home.

With that vision, he believedthat informal settlers could bean ally of property developers,not just some nuisance.

Uy had been the 8990 Hold-ings Inc. president and chief ex-ecutive officer from January2018 until his passing. He leftbehind a sustainable housing fi-nance program which the com-pany pledged to implement.

Before taking the helm at8990 Holdings, he had alreadycollected more than 30 years ofquality experience as presidentand CEO of real estate develop-er Phinma Properties, sub-sidiary of Phinma Corp.

Uy once said that the way torespond to the problem of in-formal settlements was not tosimply relocate them to far-flung areas, away fromtheir source of living andeconomic opportunitiesnormally concentrated inthe city; but to integratethem into the urbanlandscape and tap themas potential market.

“Our vision is to createan opportunity for all Fil-ipinos to own quality yet af-fordable homes in strategic lo-cations in Metro Manila. We’renot just after providing themwith spacious and comfortableunits, but also communitiesthat make them feel valued,” Uyhad said.

That is how Phinma Proper-ties shifted its focus from devel-

oping upscale townhouse pro-jects such as the Manila PoloClub houses and Mariposa Villaswhen it started building homes

in 1987 to creating affordablemid-rise properties in the early1990s. It then ventured into so-

cialized housing projects.Phinma, under Uy, creat-

ed communities located inParañaque City (FountainBreeze) as well as in Que-zon City where most of itsprojects are (Sunny Villas,San Benissa Garden Villas,

Spazio Bernardo, SpazioBernardo West Villas, Smile

Citihomes and Smile Citi-homes Annex).

Through the affordable fi-nancing schemes Phinma isknown for, all projects were saidto be sold out in less than a yearand completed in a short periodof time. This was in line withPhinma’s “City Living MadeEasy” campaign, which Uy hadsaid offered buyers “more space

for the same price.”In 2014, Phinma Properties

and the Quezon City govern-ment completed the develop-ment of Sitio Looban into whatis now known as Bistekville II,an in-city socialized housing inNovaliches for some 700 disad-vantaged families.

Instead of getting relocated,slum dwellers were convincedto vacate their old spaces tobuild a mix of concrete loftedrowhouses as well as three-storey condominium buildingsthat would become their homesvia a monthly amortization toPag-Ibig. A total of 1,078 hous-ing units composed of 703 loft-ed rowhouses (with 27-sqm to-tal floor area) and 375 condounits (with 23-sqm floor area)were constructed.

The company also intro-

duced green living in socializedhousing with the developmentof solar-powered units in GrandStrikeville 4 in Bacoor, Cavite.

Uy brought with him theseachievements when he becamethe chief operating officer at 8990Holdings in 2012, after his retire-ment from Phinma Properties. Sixyears later, he became the presi-dent and CEO of the company,one of the top affordable-housingdevelopers in the country.

“The passing of Willie J. Uycast a shadow of unhappinesson the company that he loved somuch. However, this hasstrengthened our resolve tocontinue the great work he didfor the company,” acting 8990Holdings president and CEOAlexander Ace Sotto said in adisclosure to the PhilippineStock Exchange on Nov. 7.

WILLIE J. UY

Sources: Inquirer Archives, gtcapital.com.ph, federalland.ph, sminvestments.com, smdc.com, smprime.com, forbes.com, phinmaproperties,com, 8990holdings.com, pse.com.ph