The next generation of a father’s vision
Few industries are as challenging and fiercely competitive as real estate. While this business is shaped primarily by land and capital, it is sustained by something far less tangible: leadership.
Beyond the properties and communities they build, a property firm’s success rests on leaders with the foresight, determination and strategic acumen to navigate an increasingly complex business landscape.
In the Philippines, the industry has been shaped by many such figures—builders who not only grew companies, but also laid the foundation for the next generation to rise. Many of them have since seen their children build successful paths of their own in the same industry. Their achievements offer confidence that the legacies shaped by one generation will continue to grow, evolve and find new strength under the stewardship of the next.
Here are some of Philippine real estate’s most renowned and successful father-and-child duos, whose families continue to make their mark on the industry.
Jaime Augusto Zobel de Ayala and Mariana Zobel de Ayala
Ayala Land Inc.
One of the most recognizable names in Philippine real estate is Ayala, a name attached to some of the country’s most prominent business districts, estates, and landmark developments.
Within this storied company and family, one of the figures firmly etched in corporate history is Jaime Augusto “Jaza” Zobel de Ayala.
Jaza, who serves as chair of Ayala Corp. and Ayala Land Inc. among others, succeeded his father, Don Jaime Zobel de Ayala, as president and CEO of Ayala Corp. in 1994, and later led the group through crucial growth areas, including the expansion of its real estate arm.
Carrying this legacy forward is his daughter, Mariana Beatriz Zobel de Ayala, who was elevated in March 2025 as one of Ayala Corp.’s next-generation leaders. She currently leads the transformation of Ayala Land’s leasing business across its retail, hospitality and office pillars, building on her earlier role as senior vice president and head of Ayala Land’s Leasing and Hospitality Group.
George S.K. Ty and Alfred V. Ty
Federal Land Inc.
Among the country’s most influential business families, the Tys stand out for building an empire that began with banking and grew into a diversified conglomerate. At the center of that story was the late George S.K. Ty, the visionary founder of Metrobank.
Long before his passing in 2018, Ty had already built a legacy that extended well beyond finance. After establishing Metrobank in 1962, he steadily expanded its reach, eventually transforming the bank into the foundation of a much broader business group.
GT Capital Holdings would later become the primary vehicle for managing the Ty family’s diversified interests in the Philippines, spanning banking, property, automotive, insurance, infrastructure and other key sectors. Its property interests include Federal Land, one of the country’s most established real estate developers with over five decades of experience in shaping residential communities, commercial developments and mixed-use estates.
Ty served as chairman of the board of GT Capital from its inception in July 2007 until July 2012, and was later named chairman emeritus.
Carrying that legacy forward is his son, Alfred V. Ty, who has served as vice chairman of GT Capital since February 2012. He is also chairman of Federal Land, keeping the family closely tied to the property sector, which has become one of the group’s key growth pillars.
Henry T. Sy Jr. and Jessica Bianca T. Sy
SM Prime Holdings Inc.
Henry T. Sy Jr.—a director of SM Prime Holdings since 1994 and its chairman since 2014—has helped guide one of Southeast Asia’s largest integrated property developers. His role covers real estate acquisitions and development activities for the SM Group, including the identification, evaluation and negotiation of potential sites, as well as design direction and project planning.
SM Prime began as a mall operator before evolving into a full-spectrum property developer with interests spanning malls, residences, offices, hotels and convention centers. Its residential arm, SM Development Corp. (SMDC), has since become known for providing more accessible condominium options in key urban locations.
Under the Design, Innovation and Strategy Group now headed by his daughter Jessica Bianca T. Sy, SMDC continues to refine its approach to housing by placing real human needs at the center of development.
In earlier interviews, Jessica has emphasized that “a good home can change the course of a family’s life,” underscoring the long-term impact of thoughtful, well-planned communities.
That vision now extends to sustainability, which Jessica has been actively advocating within SMDC. For her, building better homes also means creating communities that are more mindful of the environment, more efficient in the use of resources, and more responsive to the needs of future generations.
Today, SMDC’s design philosophy is anchored on accessibility, thoughtful planning, sustainability and lasting value.
Through this lens, Jessica brings a next generation perspective to the business, one focused on creating places where Filipinos can move, grow and thrive, and where communities can remain relevant for years to come.
Jose R. Soberano III and Jose Franco B. Soberano
Cebu Landmasters Inc.
Jose “Joe” R. Soberano III built Cebu Landmasters Inc. (CLI) from the ground up, combining the discipline of a seasoned property executive with the instincts of a Cebuano who knew and understood his market well.
Under his leadership, CLI grew steadily into a Cebu-based powerhouse with projects spanning residential, commercial, hospitality, mixed-use and civic developments.
Today, CLI has emerged as one of the most formidable developers in Visayas and Mindanao. The company is targeting P20 billion in project turnover for 2026, while steadily expanding its recurring income base through retail and hospitality. It is also pushing beyond its traditional strongholds, moving into Metro Manila and broader Luzon as it widens its national footprint.
Yet perhaps, one of Soberano’s most meaningful legacies is seeing CLI enter its next chapter under the leadership of his son, Franco. As he remains executive chairman, Franco steps in as president and CEO, carrying both the weight and privilege of continuing what his father began.
For Franco, the task ahead is substantial. CLI’s secured land bank can support an estimated P300 billion in project turnover over the next seven to eight years, giving the company a strong runway for growth. But beyond the numbers, his role is also deeply personal. It is about honoring a vision built over many years while bringing his own energy, perspective and ambition to a company ready for its next phase.
More than the passing of titles, CLI’s leadership transition is a story of trust between father and son—of a founder willing to guide without standing in the way, and of a next generation leader ready to build on a strong foundation while shaping the company’s future in his own way.
Andrew L. Tan and Kevin Andrew L. Tan
Megaworld Corp.
Since its founding in 1989, Megaworld Corp. has built a reputation as one of the country’s leading developers of high-end residential condominiums, commercial properties and masterplanned townships in premier urban locations.
Behind that rise is its founder, Andrew L. Tan, whose name has become closely tied to the growth of modern Philippine real estate.
Tan led Megaworld for more than three decades, serving as president until 2024 while holding key leadership posts across the broader Alliance Global Group Inc. In July 2024, Megaworld appointed Lourdes Gutierrez-Alfonso as president, with Tan remaining chairman and CEO.
The next generation link is his son, Kevin L. Tan, who has steadily taken on larger roles within the group. He became CEO of Alliance Global in 2018, succeeding his father, who remained chairman after having led the company since 2006. The elder Tan praised Kevin’s “vast exposure and professional experience” of almost two decades, which he said prepared him for the role.
Kevin has also played a key role in Megaworld’s real estate investment trust arm, MREIT Inc. After serving as its president and CEO since its launch in 2021, he was appointed chairman of the board effective June 1, 2025. Under his leadership, MREIT also grew its total gross leasable area to 482,000 sqm, further strengthening the group’s recurring income platform.
Together, these leadership transitions show how the Tan family’s business interests continue to flourish across malls, offices, hotels, townships and other real estate assets. For Megaworld and the broader Alliance Global, the next chapter remains anchored on the same growth areas that Andrew Tan helped build, and now being carried forward by a new generation of leadership.
Tomas P. Lorenzo and Monica D. Lorenzo
Torre Lorenzo Development Corp.
Tomas P. Lorenzo, president and chairman of Torre Lorenzo Development Corp. (TLDC), has built his name on a clear and exacting philosophy: a lifetime of good projects.
For more than 25 years, he has prioritized quality, thoughtful design and meticulous craftsmanship, growing TLDC from its Taft Avenue beginnings into a developer with 15 university residences and seven leisure sites.
His entry into premium student housing was shaped by a gap he personally observed after returning from the United States. Through TLDC, he pioneered premium university residences, raising the standard for how students could live while staying close to their campuses.
That same eye for opportunity later led TLDC beyond university residences and into leisure developments in Batangas and Davao, serving balikbayans, families and residents seeking well-planned spaces outside the usual urban centers.
For Lorenzo, value is built not only through location or design, but through deep environmental observation, strict maintenance and a long-term commitment to improving Filipino living.
Part of that next chapter is now being shaped by his daughter, Monica Lorenzo, who joined TLDC in 2023 and now serves as director of Leisure and Business Development.
Like her father, Monica brings a grounded and human way of looking at projects. Lorenzo once recalled walking with her around a project site at midday, simulating the experience of a student making their way to a nearby university. It was a simple exercise, but one that reflected the family’s approach to development: understand the user, study the place and build with care.
Through Monica, TLDC’s next generation carries forward Lorenzo’s discipline while bringing fresh perspective to residences and leisure spaces designed for how people live today.
Manuel B. Villar Jr. and Manuel Paolo A. Villar
Vista Land and Lifescapes Inc.
Few names in the Philippines command as much recognition in both politics and property as Villar. Much of that prominence traces back to Manuel “Manny” B. Villar Jr., the former Senate president and real estate tycoon who built one of the country’s largest property empires.
Villar is the founder of Vista Land & Lifescapes Inc., the property developer behind several of the country’s residential brands as well as AllDay, AllHome and Vista Malls—reflecting how the family’s enterprise has grown well beyond its original homebuilding roots. In 2023, Villar topped the list of Filipino billionaires included in Forbes’ world’s richest list, with much of his fortune tied to his property and retail ventures.
Part of that legacy is now being carried forward by his son, Manuel Paolo Villar, who has served as president and CEO of Vista Land & Lifescapes since July 2011. He was also appointed president of Vistamalls Inc. in June 2019 and has held key posts in several Vista Land subsidiaries, including Camella Homes and Crown Asia Properties.
The family’s imprint, however, is not confined to business. It also extends to public service through Senators Mark and Camille Villar.
For the elder Villar, this breadth of achievement has been a source of pride. He has often spoken warmly of his children, particularly the work ethic, discipline and sense of responsibility they bring to their respective paths. Together, these roles reflect a family legacy that continues to move across enterprise and public service, with the next generation carrying forward the name that Manny Villar built.
Giovanni J. Olivares and Pammy Olivares-Vital
Ovialand Inc.
Giovanni J. Olivares serves as chairman of Ovialand Inc., a fast growing developer anchored on thoughtfully designed homes and communities for Filipino families.
Since 2014, Ovialand has already completed and turned over more than 3,500 homes, each contributing to greater stability, security and improved everyday living for its residents.
His daughter, Marie Leonore Fatima “Pammy” Olivares-Vital, first joined the family’s construction and development business, Malate Construction and Development Corp., in 2006.
At just 22, she entered a male-dominated industry during a period of sales slowdown, choosing to face the challenge head on rather than be defined by it. Through disciplined work and rigorous team training, Pammy helped strengthen operations and sharpen the group’s competitiveness.
Later on, Pammy served as business unit head of Ovialand before becoming its president in 2020. In that role, she helped advance the company’s “Premier Family Living” philosophy, anchored on quality, service, safety and affordability.
In previous interviews, Pammy has described homeownership as more than a physical asset. For her, it is a foundation for stability, security and life’s key milestones. This perspective continues to shape her forward-looking approach as she works to expand Ovialand’s reach and further refine communities that respond to the evolving needs of Filipino families.
With a report from Erin Alcala, Karen Amarilla, Inquirer Research
******
Get real-time news updates: inqnews.net/inqviber
