Business tycoon Andrew Tan is expanding his $1-billion Spanish property arm with the opening of the group’s first overseas commercial center in Madrid, Spain.
Called Torre Caleido Shopping Center, the project features “modern design and architecture” and is located near the Cuatro Torres business district in Spain’s capital.
“We are honored to share this new milestone with the entire Filipino nation,” said Kevin Tan, who is Tan’s son and the CEO of the family flagship holding firm, Alliance Global Group Inc., on his Facebook page.
“As a proudly Filipino company, we will continue to pursue and engage in key projects and developments that will put the Philippines in the global map and bring great pride to our countrymen,” he added. Torre Caleido Shopping Center, which offers upscale shopping, dining and other mall amenities, is a project of the Tan family’s Emperador Properties SA, a privately-owned company in Spain.
Emperador Properties is the real estate arm of Grupo Emperador, a property management and acquisition company with assets valued at about $1 billion, its website showed.
It was named after Tan’s multinational liquor conglomerate, Emperador Inc.
Emperador Properties also owns Torre Digital One and the 55-floor Torre Emperador Castellana, among the defining structures of the Madrid skyline.
Tan acquired the Torre Emperador, then called Torre Espacio, as a personal investment in 2015.
That same year, Emperador Inc. announced the acquisition of Fundador Pedro Domecq, Spain’s largest and oldest brandy producer.
Over the past year, the liquor giant has taken steps to raise its profile abroad as part of an aggressive strategy to increase international sales.
Last July, Emperador completed a secondary listing in the Singapore Exchange Securities Trading Ltd., complementing an earlier listing in the Philippine Stock Exchange.
The company’s whisky and brandy products are available in over 100 countries around the world. It earlier announced plans to bring international sales to 50 percent of revenues and profits by 2025.