Top 11 Largest Real Estate Companies in the Philippines
This is list of the top 11 largest real estate companies in the Philippines. They're actively traded and publicly listed in the Philippine Stock Exchange (PSE). A brief profile of each company is provided.
Ayala Land, Inc. (ALI) - was formerly the real estate division of Ayala Corporation and was incorporated on June 30, 1988 to focus on the development of its existing real estate assets. In July 1991, the Company became publicly-listed through an initial public offering of its primary and secondary shares on the Makati and Manila Stock Exchanges. ALI is engaged in the planning and development of large scale, integrated estates having a mix of use for the sale of residential lots and buildings, office buildings and commercial and industrial lots, leasing of commercial and office spaces and the development, operation and management of hotels and resorts. The Company also develops commercial and industrial parks and is also engaged in property management, construction and other businesses like retail and healthcare.
Megaworld Corporation (MEG) - was incorporated on August 24, 1989 to engage in the development of large scale, mixed-used planned communities or townships that integrate residential, commercial, leisure and entertainment components. The Company is also engaged in other property-related activities such as project design, construction oversight and property management. On August 19, 1999, the Company changed its corporate name to the present one to coincide with its conversion from a purely real estate company into a holding company, although MEG continues to focus on its core competence in real estate development. MEG's real estate portfolio includes residential condominium units, subdivision lots and townhouses, condominium-hotel projects as well as office projects and retail spaces. Since its incorporation in 1989, the Company and its subsidiaries and associates have launched approximately 371 residential buildings, office buildings and hotels consisting in aggregate of more than 6,786,146 square meters of floor area.
Robinsons Land Corporation (RLC)- was incorporated on June 4, 1980 to serve as the real estate investment arm of JG Summit Holdings, Inc. RLC and its subsidiaries are engaged in the development and operation of shopping malls and hotels, and the development of mixed-use properties, office and residential buildings, as well as land and residential housing developments, including socialized housing projects located in key cities and other urban areas nationwide. RLC's operations are divided into four business divisions such as the commercial centers, residential, office buildings, and hotels.
DoubleDragon Properties Corp. (DD), formerly Injap Land Corporation - was established on December 9, 2009 to primarily engage in the business of real estate development and other real estate-related business ventures. The Company started commercial operations in November 2010. DD was originally 100%-owned by Injap Investments, Inc. (IJI), a holding company owned by the Sia family. In June 2012, DD became a joint venture between IJI and Honeystar Holdings Corporation, the holding company of the Tan and Ang families. The Securities and Exchange Commission approved the Company's change in name to its present one on August 1, 2012. As of December 31, 2014, DD holds 100% interest in DoubleDragon Sales Corp. and One Eleven Property Management Corp. The Company also owns 50% of Piccadilly Circus Landing Inc. (PCLI), with the Aryanna Group holding the other 50%. PCLI was the company behind the development of the Umbria Commercial Center in Biñan, Laguna. On February 17, 2014, DD and SM Investments Corporation (SM) signed an investment and shareholders' agreement wherein the former increased its shareholdings and the latter subscribed to shares in CityMall Commercial Centers, Inc., resulting in ownership of 66% and 34%, respectively. DD and its subsidiaries own, lease and enter into joint venture agreements covering several tracts of land for community malls, office, residential and other types of developments.
Vista Land & Lifescapes, Inc. (VLL) - was incorporated on February 28, 2007 as an investment holding company. VLL through its subsidiaries harnesses more than 35 years of professional expertise in residential real estate development. The Company's projects include master-planned developments and stand-alone residential subdivisions which offer lots and/or housing units to customers in the low-cost (which includes socialized housing), affordable, middle-income and high-end market segments. The Company operates through five distinct business units, namely Brittany Corporation; Crown Asia Properties, Inc.; Camella Homes, Inc.; Communities Philippines, Inc.; and Vista Residences, Inc. These units are involved in various real estate markets
Araneta Properties, Inc. (ARA) - was originally incorporated on June 15, 1988 as Integrated Chrome Corporation with the principal business of mining chrome ore and producing ferro silicon metal, commonly known as ferrochrome. The Company stopped its smelter operations in January 1996. Later that year, the Company changed its corporate name to Araneta Properties, Inc. and its primary purpose of business to land and property development, maintaining the smelter operations as a secondary purpose. On June 5, 2003, ARA signed a joint venture agreement with Sta. Lucia Realty and Development, Inc. to develop the Company's property in San Jose del Monte, Bulacan. The Company's existing smelting plant is located in a five-hectare land in Misamis Oriental. The land on which the smelting plant is built is only part of the 17.3 hectare of industrial/residential land. On January 24, 2005, ARA entered into a contract of sale with Platinum Group Metal Corporation for the sale of the non-operating property.
Cityland Development Corporation (CDC) - formerly Statehouse Land Development Corporation, was incorporated on January 31, 1978. CDC publicly listed its shares on the Philippine Stock Exchange in March 1983. The Company's primary purpose is to acquire and develop suitable land sites for residential, office, commercial, institutional, and industrial uses. CDC's projects include medium to high-rise office, commercial, and residential condominiums located in the cities of Makati, Mandaluyong, Manila and Pasig; and residential subdivisions and farmlots in Bulacan and Cavite. Among the Company's projects include Pines Peak Towear I, Grand Central Residences I, the Makati Executive Towers I, II and III, Corinthian Executive Regency, Manila Executive Regency and Rada Regency. CDC has two subsidiaries, namely, City & Land Developers, Inc., a real estate company, and Cityplans, Incorporated, a pre-need firm.
Cebu Property Ventures and Development Corporation (CPV) - was registered with the Securities and Exchange Commission on August 2, 1990 and started commercial operations on September 1, 1996. The Company started as a joint venture corporation between the province of Cebu and Ayala Land, Inc. Cebu Holdings, Inc. owns 76% of the company as of 1995. CPV is engaged in real property ownership, marketing, management and development. CPV's operations consist of commercial land sales, development and leasing of office space, residential condominium sales, residential subdivision sales, and rental of retail space. CPV is the owner and developer of Asiatown I.T. Park, a 24-hectare property complementing the Cebu Business Park. The I.T. Park obtained accreditation from the Philippine Economic Zone Authority as an I.T. Park in 2000. On September 22, 2011, Asiatown I.T. Park was officially re-named Cebu I.T. Park. On April 16, 2013, Asian I-Office Properties, Inc. became a wholly owned subsidiary of the Company.
Arthaland Corporation (ALCO), formerly EIB Realty Developers, Inc., - was incorporated on August 10, 1994 for the purpose of engaging in property development of residential, commercial, and leisure projects. Following the reduction in the par value of its shares and decrease in authorized capital stock in 2007, ALCO undertook a recapitalization program which led to the entry of new investors. On January 26, 2009, the Securities and Exchange Commission approved the change in corporate name to the present one. ALCO is geared to pursuing niche and boutique developments as well as opportunistic joint venture developments. In 2011, ALCO ceased to be a subsidiary of AO Capital Holdings, Inc. after selling its 31% stake to CPG Holdings, Inc. (CPG). In addition, CPG infused additional capital to ALCO in consideration of 200 million unissued shares, giving it an effective ownership interest of 34% in ALCO. In September 2014, CPG acquired additional ALCO shares from the market. As of end-2014, CPG was the largest shareholder of the Company at 40.29%.
IRC Properties, Inc. (IRC) formerly Interport Resources Corporation, - was incorporated on February 24, 1975 primarily to engage in the acquisition, reclamation, development or exploration of land, forests, minerals, oil, gas and other resources. The Company initially ventured in oil exploration activities and drilled two wells in Southern Mindoro and the Sulu Sea areas. World recession in the late 1970s forced IRC to cut down on exploration activities. On January 27, 2013, the Securities and Exchange Commission approved the change in corporate name to the present one as well as the change in the primary purpose and declassification of stock. IRC has one wholly-owned subsidiary, Interport Development Corporation, which was established primarily to acquire and sell real estate of all kinds or hold such properties for investment purposes. IRC and its subsidiary have no commercial activities, except for clearing and retitling of its properties in Binangonan, Rizal. On July 28, 1978, the Company acquired a 2,200-hectare property in Binangonan, Rizal which signaled its shift in major business activity from oil exploration to real estate development. On November 10, 2010, the Company sold its property in Coron, Palawan to finance its development projects in Binangonan, Rizal. On September 10, 2013, the Company entered into a Contract to Sell with Hundred Lake Development Corporation, whereby the company agreed to sell its land located in Binangonan.
City & Land Developers, Inc. (LAND) - registered with the Securities and Exchange Commission on June 28, 1988 and started commercial operations on August 1, 1992. The Company is 49.73% owned by Cityland Development Corporation. LAND's primary purpose is to acquire and develop suitable land sites for residential, office, commercial, institutional, and industrial uses. The Company has three commercial, office and residential condominium projects namely, Pacific Regency in Manila; Grand Emerald Tower in Pasig City; and Manila Residences Bocobo in Manila. LAND is currently developing North Residences, a commercial and residential condominium in Quezon City along EDSA.
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