Construction industries have paved the way for many opportunities throughout the years as the development of residential, commercial, and industrial properties became in demand. The government also needed partners to develop infrastructure, thus the rise of this industry. This article will discuss the Philippines' richest people in the construction industry, the companies they lead, and its notable projects.
First on the list is Manuel Villar or commonly known as Manny Villar, who placed 2nd among the wealthiest people in the Philippines with a real-time net worth of $7 billion. Villar's most valuable asset is his ownership interest in Golden MV Holdings (formerly Golden Bria), a mass housing projects and memorial parks developer. Moreover, Villar has been active in politics, serving as a congressman, house speaker, senator, and senate president.
Second is Isidro Consunji and his siblings, who placed 6th among the wealthiest people in the Philippines with a net worth of $2.65 billion. Their fortune was left to them by their late father, David Consunji. Isidro is the Chairman and President of DMCI Holdings, one of the Philippines' largest property development firms. It is the Philippines' only publicly traded holding company with construction as its core competency. Among their notable projects include the Cultural Center of the Philippines (1969), The Folks Art Theater (1974), the Philippine International Convention Center (1976), Rockwell Business District, and Metro Manila Skyway Stage 2 South.
Next on the list is who placed 28th among the wealthiest people in the Philippines with a net worth of $545 million. Luis Yu Jr. is the emeritus chairman of 8990 Holdings, a low-cost housing company. It began in 2005 as an IT and telecom services provider before expanding into property development in 2013. In 2021, 8990 Holdings delivered 11,500 homes, fueled by strong demand for affordable housing.
Sylvia C. Wenceslao is also a known name in the construction industry. They placed 39th among the wealthiest people in the Philippines, with a net worth of $340 million. Sylvia C. Wenceslao was appointed chairman of real estate developer D.M. Wenceslao& Associates following her husband, Delfin J. Wenceslao Jr.'s death in September 2021 at the age of 77. Her late father-in-law Delfin Sr. founded the company in 1965, and it became known for its expertise in land reclamation projects. Among their notable projects are Zamboanga port, Lucena Multi-purpose Fishport complex (Multi-purpose pier), Alabang – Zapote Fly-over Project, Third IBRD Highways Projects, and Tarlac – Pangasinan – La Union (TPLex) Toll Expressway Project.
Next is Jose Antonio, with a net worth of $270 million, who placed 43rd among the wealthiest people in the Philippines. He is the founder and chairman of Century Properties, a high-end real estate developer. Marco is the company's president and CEO. Century, established in 1986, has reshaped the Manila skyline with its luxury branded buildings and is the only Filipino firm developed in New York. The company specializes in land banking and the development of large master-planned communities, transportation-oriented developments, and townships. The company has built Acqua Private Residences, Azure Urban Resort Residences, Azure North, BatulaoArtscapes, Centuria Medical Makati, and Century City Mall.
Mariano Martinez Jr., with a net worth of $250 million and placed 44th among the wealthiest people in the Philippines, is next on the list. Mariano Martinez is the chairman of 8990 Holdings, a low-cost housing company that has built thousands of houses in the Visayas, Mindanao, and Luzon since 2013. 8990 Holdings was listed on the Philippines Stock Exchange in 2013 under the symbol' HOUSE.' In 2021, 8990 Holdings delivered 11,500 homes, fueled by strong demand for affordable housing.
Last but not least, Benedicto& Teresita Yujuico placed 50th among the wealthiest people in the Philippines, with a net worth of $185 million. They are partners in office landlord DDMP REIT with tycoon Edgar Sia's property developer DoubleDragon Corporation. BenedictoYujuico is a descendant of the late ClarencioYujuico, who was involved in textiles and banking in the 1970s. From 2019 to 2021, Benedicto was the president of the Philippine Chamber of Commerce Industry. He previously served as Eastern Europe's trade ambassador. Their projects include CityMall, DD Meridian, Jollibee Tower, CentralHub, Hotel 101 Fort, and Jinjiang Inn.
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