






{"id":1608,"date":"2018-12-13T05:40:56","date_gmt":"2018-12-13T05:40:56","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1608"},"modified":"2021-06-04T14:10:23","modified_gmt":"2021-06-04T07:10:23","slug":"interview-with-the-tycoon-the-philippines-andrew-tan-on-his-mega-world","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/interview-with-the-tycoon-the-philippines-andrew-tan-on-his-mega-world\/","title":{"rendered":"Interview with the tycoon: the Philippines&#8217; Andrew Tan on his mega world"},"content":{"rendered":"<p><strong>The tumultuous \u201990s saw the developer turn an old textile mill complex into the country\u2019s most coveted corporate address. Today, the seasoned Filipino-Chinese entrepreneur continues to change the game<\/strong><\/p>\n<figure id=\"attachment_1609\" aria-describedby=\"caption-attachment-1609\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1609\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Interview-with-the-tycoon-the-Philippines-Andrew-Tan-on-his-mega-world.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Interview-with-the-tycoon-the-Philippines-Andrew-Tan-on-his-mega-world.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Interview-with-the-tycoon-the-Philippines-Andrew-Tan-on-his-mega-world-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Interview-with-the-tycoon-the-Philippines-Andrew-Tan-on-his-mega-world-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1609\" class=\"wp-caption-text\">Andrew Tan has risen from humble roots to become one of the preeminent figures in the Asian real estate sector<\/figcaption><\/figure>\n<p>Megaworld Corporation, the pioneering mixed-use property developer founded by Filipino-Chinese tycoon Andrew Tan, has thus far created 23 townships and integrated developments in the Philippines. And the tycoon is just warming up.<\/p>\n<p>Tan, whose wide-ranging business interests\u2014from hotels and resorts, to fast food and liquor\u2014are all gathered under holdings company Alliance Global, attributes the lion\u2019s share of his success to his game-changing real estate enterprise, Megaworld Corporation.<\/p>\n<p>As chairman and founder of Megaworld, Tan pioneered mixed-used development in Metro Manila in the 1990s, changing the industry\u2019s landscape and driving the property sector into a rush to build similar all-inclusive townships across the metropolis.\u00a0 Its flagship Eastwood City\u2014a 17-hectare enclave of sleek office towers, modern residential buildings, and\u00a0\u00a0 commercial\u00a0\u00a0 structures\u00a0\u00a0 within\u00a0\u00a0 Quezon\u00a0\u00a0 City\u2014bears\u00a0\u00a0 the\u00a0\u00a0 DNA\u00a0\u00a0 of\u00a0\u00a0 his\u00a0\u00a0 company\u2019s\u00a0\u00a0 innovative live-work-play-learn concept, a masterplan that incorporates work spaces with residential and recreational facilities.<\/p>\n<p>Eastwood, a\u00a0\u00a0 former\u00a0\u00a0 textile\u00a0\u00a0 mills\u00a0\u00a0 complex, became\u00a0\u00a0 the\u00a0\u00a0 country\u2019s most coveted corporate address when it opened in 1997, providing a springboard for what was then a nascent BPO industry that now employs a million Filipinos and whose total income is projected to hit USD40 billion by 2020.<\/p>\n<p>Such innovation in property development was designed to, among other things, cut home-to-office travel time and increase quality of life in an otherwise dense urban sprawl whose productivity has been hobbled by traffic woes.<\/p>\n<p>The\u00a0\u00a0 people-centred\u00a0\u00a0 concept\u00a0\u00a0 proved\u00a0\u00a0 nothing\u00a0\u00a0 short\u00a0\u00a0 of\u00a0\u00a0 revolutionary\u2014Megaworld\u00a0\u00a0 has\u00a0\u00a0 since\u00a0\u00a0 launched\u00a0\u00a0 similar townships all over Metro Manila, effectively reconfiguring the Philippine capital to include self-contained pockets of hyper-productivity and sustainable urban living.<\/p>\n<p>Sitting\u00a0\u00a0 comfortably\u00a0\u00a0 on\u00a0\u00a0 a\u00a0\u00a0 Forbes-estimated\u00a0\u00a0 fortune\u00a0\u00a0 of\u00a0\u00a0 USD2.4 billion, Tan\u2019s success is driven primarily by humble beginnings.\u00a0\u00a0 The\u00a0\u00a0 son\u00a0\u00a0 of\u00a0\u00a0 poor\u00a0\u00a0 immigrants\u00a0\u00a0 from\u00a0\u00a0 Fujian\u00a0\u00a0 province in South China, Tan was 16 when his family moved to the Philippines. As a newcomer in the country, his father told him he had to strive harder than most, instilling in him the importance of hard work and diligence\u2014values that guided him through his first job as a marketing executive and, when he eventually established Megaworld in 1989, the company\u2019s challenge-riddled nascent years.<\/p>\n<p>Two weeks after launching his first Megaworld project, army forces loyal to the Marcos dictatorship staged the most serious coup d\u2019\u00e9tat against Philippine President Corazon Aquino. The decision to still pursue the project, he revealed in a local interview, was \u201cone of the toughest\u201d he had to make.\u00a0 This was further tested when the Asian financial crisis hit in 1997 and threatened the real estate industry\u2014around the time Megaworld launched Eastwood City.<\/p>\n<p>As history would attest, Tan\u2019s gambit paid off.\u00a0 Today, Tan\u2019s business empire has spread beyond the Philippine capital to other growth markets in the nation, having replicated the success of Mega world\u2019s township developments in such provinces as Pampanga, located north of Manila and whose Clark International Airport is a growing hub for regional airlines, and in the cities of Cebu, Iloilo, Bacolod, and Davao.<\/p>\n<p>In\u00a0this\u00a0interview, Tan\u00a0shares\u00a0how\u00a0his\u00a0groundbreaking\u00a0concept has evolved to meet the future.<\/p>\n<h4>Looking back on Megaworld\u2019s extensive experience in\u00a0building\u00a0\u00a0mixed-use\u00a0developments, how\u00a0do\u00a0the\u00a0townships you are designing\/building today compare with those of 10 years ago?<\/h4>\n<p>We are keeping up to the changing times\u2014just this year, we launched iTownships, a campaign that is intended to guide us in future-proofing our townships. The campaign allows us to create \u201cfuture-ready\u201d communities by integrating innovative design, safety, smart technology, connectivity, and energy efficiency into our developments.<\/p>\n<figure id=\"attachment_1610\" aria-describedby=\"caption-attachment-1610\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1610\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Tan-giving-his-acceptance-message.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Tan-giving-his-acceptance-message.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Tan-giving-his-acceptance-message-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Tan-giving-his-acceptance-message-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1610\" class=\"wp-caption-text\">Tan giving his acceptance message on video after winning the inaugural Icon Award at the PropertyGuru Asia Property Awards Grand Final 2018<\/figcaption><\/figure>\n<h4>What\u00a0\u00a0trends\u00a0have\u00a0you\u00a0pioneered\u00a0or\u00a0seen\u00a0emerge in mixed-use design?<\/h4>\n<p>We\u2019ve been known to be a builder of integrated urban townships that spur economic activities, generate employment, and provide walkability and convenience for everyone.\u00a0 These mixed-use developments allow consumers to put greater value on time.<\/p>\n<p>Having pioneered the country\u2019s first cyberpark, we\u2019ve also taken the active role in growing the BPO industry in the Philippines.\u00a0 Since we built Eastwood City, the BPO industry in the country has\u00a0grown\u00a0exponentially\u00a0which\u00a0eventually\u00a0generated millions of jobs for Filipinos.<\/p>\n<h4>Are you aware of a shift across Asia in the number of developers who now favor mixed-use\u00a0\u00a0over\u00a0\u00a0dedicated\u00a0office\u00a0blocks, retail projects, hotels, etc.?\u00a0What do you think is driving that?<\/h4>\n<p>Time has become more and more limited for today\u2019s consumers.\u00a0 People want to experience everything\u2014shopping, dining, relaxation, entertainment\u00a0\u00a0 and\u00a0\u00a0 learning, among\u00a0\u00a0 others\u2014within the very community where they live and work.<\/p>\n<blockquote><p>BY INTRODUCING TOWNSHIPS LIKE UPTOWN BONIFACIO, WE ARE ABLE TO PROMOTE SYNERGIES AND MAXIMISE THE USE OF OUR LAND. THIS, IN TURN, LENDS GREATER VALUE TO OUR COMMUNITIES BECAUSE BOTH CONSUMERS AND BUSINESSES APPRECIATE BEING A PART OF DYNAMIC COMMUNITIES WHERE THEY CAN TRULY ENJOY THE LIVE-WORK-PLAY LIFESTYLE<\/p><\/blockquote>\n<p>We had foreseen this happening, even back in the late 90s, which is why we conceived of the idea of fully integrated townships.\u00a0 And today, we are proud to have created 23 townships and mixed-use developments across the Philippines, which have become models of real estate development in our country.<\/p>\n<h4>Does building a mixed-use project provide a \u201csafety net\u201d, allowing you to diversify the assets in a project and mitigate against the failure of any one usage?<\/h4>\n<p>Rather than looking at it as a safety net, we would like to treat it as an opportunity to grow our portfolio.\u00a0 In Uptown Bonifacio, for example, we just launched our fourth residential condominium development.\u00a0 It will rise just a few blocks away from Uptown Mall and Uptown Parade\u2014two prime lifestyle destinations in Metro Manila.\u00a0 Within the vicinity, too, are some of the most prestigious international\u00a0academic institutions, the headquarters of the industry-leading companies, and soon a mega transport hub.<\/p>\n<p>Studies have shown that \u201cwhere American site selection strategies are often based on adjacency to highways or other main roads, in Asia proximity to foot traffic and transportation hubs are the leading drivers of where shopping centres and mixed-use developments are built.\u201d By introducing townships like\u00a0\u00a0 Uptown Bonifacio, we are able to promote synergies and maximise the use of our land. This, in turn, lends greater value to our communities because both consumers and businesses appreciate being a part of dynamic communities where they can truly enjoy the live-work-play lifestyle.<\/p>\n<h4>Looking to the future of mixed-use\u00a0developments, what\u2019s the challenge for Megaworld?<\/h4>\n<p>We\u2019ve been a leader in this category in the Philippines, and we see ourselves building more. The challenge now is how to continuously bring in innovations into our township developments. This is not only about employing technology, but also finding other suitable components that make the live-work-play concept more exciting.<\/p>\n<p><em>This article originally appeared in\u00a0<a href=\"https:\/\/www.magzter.com\/TH\/PropertyGuru-International-(Thailand)-Co.,Ltd\/Property-Report\/Business\/\" target=\"_blank\" rel=\"noopener noreferrer\">Issue No. 151<\/a>\u00a0of PropertyGuru Property Report Magazine<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tumultuous \u201990s saw the developer turn an old textile mill complex into the country\u2019s most coveted corporate address. Today, the seasoned Filipino-Chinese entrepreneur continues to change the game<\/p>\n","protected":false},"author":2,"featured_media":19861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[86],"tags":[],"class_list":["post-1608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interview","news_country-philippines","news_author-timothy-bell"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Interview with the tycoon: the Philippines&#039; Andrew Tan on his mega world | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/interview-with-the-tycoon-the-philippines-andrew-tan-on-his-mega-world\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interview with the tycoon: the Philippines&#039; Andrew Tan on his mega world | Asia Property Awards\" \/>\n<meta property=\"og:description\" content=\"The tumultuous \u201990s saw the developer turn an old textile mill complex into the country\u2019s most coveted corporate address. 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