Philippine real estate today is being redefined by women who dare to lead differently.

From shattering glass ceilings to breaking new ground, these remarkable women reflect how leadership is becoming more inclusive and grounded. Their growing influence is an inspiring proof of how a dynamic sector is making space for new voices that can help shape the future.

At the same time, their leadership balances continuity and change: guarding hard earned legacies while guiding the new generation with insights shaped by real experience on the ground.

This is what the Philippine Daily Inquirer’s Women of Power seeks to recognize each year. Now on its fourth year, this initiative continues to celebrate women leaders who stand out in their respective fields, be it for their professional achievements, meaningful contributions to industry growth, strong leadership, or their lasting impact on the communities they help shape.

For this year, Inquirer Property puts the spotlight on Catherine A. Ilagan, president and CEO of Filinvest Alabang, Inc.; Raquel S. Cruz, SVP of Ayala Land Inc.; Tracey Castillo, VP and chief marketing officer of Rockwell Land Corp.; and June Cheryl Cabal-Revilla, executive director, chief finance, risk and sustainability officer of Metro Pacific Investments Corp.

They join a distinguished roster of Women of Power honorees, who are all set to be recognized in an awarding ceremony, themed “Guarding legacies, guiding generations” on March 24. This a powerful statement of how the Inquirer recognizes leadership that creates real influence and lasting value in the industry.

Behind this recognition, however, are stories of grit, vision, conviction, and decisions that helped shape skylines and strengthen communities. Here, we take a closer look at the four women whose journeys continue to redefine what leadership in Philippine real estate can be.

Building cities with a vision

Catherine A. Ilagan

President and CEO, Filinvest Alabang, Inc.

Cities do not grow by accident. It takes time, direction, and tenacious leaders who understand how urban progress is built step by step.

For Catherine A. Ilagan, this has defined more than three decades of her work in real estate and urban development, guiding the creation of spaces that respond to market realities.

When she assumed leadership of Filinvest Alabang, Inc. (FAI) in 2012, Filinvest Corporate City was already an established address in the South. Under her watch, it was strategically repositioned as Filinvest City, turning the district into an integrated urban environment. Over the years, it has grown into a live-work-play center comprising residential towers, office buildings, retail spaces, and institutional developments within a masterplanned setting.

Sustainability also became a defining thread in this evolution. Ilagan pushed for district-wide environmental initiatives that eventually led Filinvest City to become the first and only central business district in the Philippines to secure both LEED Gold and BERDE certifications.

Beyond visible physical growth, this strategy has also translated into notable market gains.

Over the past decade, land values in Filinvest City rose by 570 percent, reflecting a 21 percent compounded annual growth rate (CAGR). The district currently supports a daily population of around 222,000 residents, professionals, students, and visitors—a scale that reflects its role as a functioning urban hub.

Ilagan’s leadership has also extended into new market segments. She spearheaded the launch of Filigree, the Filinvest Group’s luxury residential brand, marking the company’s entry into the high-end housing sector. Since its introduction, Filigree has developed a portfolio of upscale residential projects and continues to explore expansion opportunities, including in Metro Clark.

As president and CEO, Ilagan continues to drive the growth of FAI’s sustainable townships and mixed-use developments. Her leadership shows that urban progress is not only about expansion, but about building places that work for people.

Of comebacks and market confidence

Raquel S. Cruz

Senior vice president, Ayala Land Inc.

Residential property markets often reveal who can hold steady when conditions are less than ideal.

For Raquel S. Cruz, senior vice president of Ayala Land, Inc. (ALI), the past few years in particular have been defined by guiding the company’s core housing brands through uncertainty and helping position them for recovery and renewed growth.

A key member of ALI’s Management Committee, Cruz serves as group head of Corporate Services and Transformation while simultaneously leading several residential brands as president of Avida Land, Amaia Land, Bellavita, and Amicassa Process Solutions.

In 2025, she led the Core Residential Business Group through a volatile property market marked by cautious buying behavior and the lingering impact of the pandemic slowdown.

Despite headwinds, the group posted positive growth and sustained inventory efficiency that surpassed industry benchmarks, driven primarily by the careful pacing of project launches and greater sensitivity to market shifts. Equally important, too, was how developments were positioned to restore confidence among buyers.

Last year, Avida Land’s “Bespoke Living”campaign highlighted personalization and flexibility, themes that resonated well with home seekers adjusting to new lifestyle priorities. The initiative helped strengthen brand engagement at a time when many buyers were reassessing their long-term housing decisions.

Earlier this year, the successful launch of The Heights Katipunan signaled renewed momentum in urban residential development. Located in a well-established corridor with strong access to schools, offices, and commercial hubs, this project drew market attention as one of Avida’s notable comebacks following several years of tempered activity. Its reception reflected improving sentiment and the gradual return of demand in key city locations.

As Ayala Land continues to navigate a recalibrating housing landscape, Cruz remains focused on strengthening the group’s residential platforms, sustaining growth momentum, and preparing its brands for the next wave of urban demand.

Crafting lifestyle, culture, and the Rockwell experience

Tracey Castillo

Vice president and chief marketing officer, Rockwell Land Corp.

In premium real estate, distinction is about scale, exclusivity, and most importantly, experience.

This understanding has long guided the work of Tracey Castillo, vice president and chief marketing officer of Rockwell Land Corp.

For more than 15 years, she has helped build the brand’s lifestyle identity, positioning Rockwell developments as more than prestigious addresses, but also as refined urban enclaves where daily life is shaped by ease, dining, culture, and familiar social rhythms.

Through campaigns that highlight considered design and the subtleties of elevated living, Castillo has reinforced Rockwell’s standing in the premium residential market while nurturing communities that feel polished and distinctly personal.

From “Rockwell on the Move,” which highlighted the company’s expansion outside its flagship development in Makati City to “Beyond Ordinary,” which centered on curated living experiences, her work has helped articulate a lifestyle that goes beyond the physical attributes of property. The more recent “Done Rockwell” campaign reinforced confidence in the company’s signature brand of city living.

Her influence, however, extends beyond brand messaging. One of her most notable contributions was her role in helping bring to life the Proscenium Theater, a cultural landmark within Rockwell’s flagship community.

As executive producer of this newly opened venue, Castillo has helped place the performing arts at the heart of the Rockwell community, opening doors to world-class productions and meaningful artistic expressions. The theater has undoubtedly introduced a new dimension to the community, encouraging residents and guests to engage with culture as part of everyday life, rather than as an occasional destination.

Through these initiatives, Castillo continues to help shape how Rockwell communities are experienced as prestigious addresses that feel effortlessly elevated. Her work reflects a clear focus on keeping the Rockwell experience fresh and compelling, allowing the brand to evolve with the tastes and tempo of a globally minded urban market.

Managing scale, risk, and the future of essential services

June Cheryl Cabal-Revilla

Executive director and chief finance, risk and sustainability officer, Metro Pacific Investments Corp.

Few leadership roles move across as many industries and as many critical decisions as that of June Cheryl Cabal-Revilla at Metro Pacific Investments Corp. (MPIC).

As executive director and chief finance, risk and sustainability officer, she helps steer the financial direction and long-term priorities of businesses that shape everyday life for millions of Filipinos. Her work involves balancing returns with relevance, ensuring investments generate value while sustaining the essential services that keep cities moving.

Her reach extends well beyond the parent company. Cabal-Revilla concurrently serves as a director of key MPIC subsidiaries, including Meralco, Maynilad, Metro Pacific Tollways Corp., Metro Pacific Hospitals Holdings Inc., and LandCo Pacific Corp., among others. This wide span of responsibilities places her at the center of decisions that influence capital deployment, manage complex risk environments, and support the continued expansion of infrastructure platforms across the country.

At the same time, she is helping open new directions as president and chief executive officer of mWell, MPIC’s digital healthcare arm. The platform signals a shift toward technology-enabled services, while complementing the group’s hospital network.

More recently, her focus has also expanded into tourism through LandCo Lifestyle Ventures (LLV).

In Batangas, Baguio, and Davao, LLV is developing resort estates designed not only as “Life on Vacation” destinations, but also as engines for employment, growth of small enterprises, and stronger regional hospitality communities. This highlights how thoughtful investments in destinations can unlock growth in areas outside major city centers.

“Our responsibility goes beyond delivering financial results. It’s about directing capital toward ventures that uplift communities, create opportunities, and strengthen industries that keep the country moving forward. Investing in tourism through LLV is pivotal to building a more inclusive and resilient future for our nation,” Cabal-Revilla said.

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