Self-made tycoon conquers hurdles, rises above dreams
HARDWORK and brand building were Tan’s tools to success.
It was a simple dream that allowed Andrew L. Tan to soar at great heights.
The self-made tycoon, who recently landed on the fourth spot of the prestigious list of Forbes’ richest Filipinos with a net worth of US$2 billion, reveals that all he ever wanted then was to just have a small grocery store.
“While I was in college, the families of some of my classmates owned textile stores, others hardware stores. My dream then was to own and operate a small grocery store,” Tan says in an exclusive interview with Inquirer Property.
In fact, his father, who was a humble worker at a transistor radio factory and the sole breadwinner of the family, only wanted Tan to “study hard and be like the people” who wear barong Tagalog and work for the banks along old Escolta.
Building an empire
But fate seemed to have a different plan for this property tycoon, whose conglomerate now spans across various industries—real estate, food and beverage, quick service and tourism and gaming.
Tan has built, through “hardwork and brand building,” an impressive portfolio through the Alliance Global Group that include Megaworld Corp., Travellers International Hotel Group Inc., Emperador Distillers Inc., Golden Arches Development Corp., Empire East Land Holdings Inc. and Suntrust Properties Inc.
HARDWORK and brand building were Tan’s tools to success.
The more notable of his achievements included putting up Resorts World Manila, the country’s very first integrated tourism estate that opened to the public in August 2009; several IT parks (Eastwood City, McKinley Hill) that served as a hub for the growing business process outsourcing (BPO) industry; and finding strategic locations for McDonald’s branches in the Philippines through Golden Arches—not to mention the numerous infrastructure and residential developments that have since provided thousands of Filipinos what they can call home.
While Tan himself is a “shy billionaire” who has always chosen to stay away from the limelight, his outstanding successes, of course, did not go unnoticed.
Property consultants CB Richard Ellis Philippines and Colliers International, named the Tan-led Megaworld as the Philippines’ top residential condominium developer in more than a decade, and the country’s biggest builder of residential condominium in terms of units completed in 2010, respectively.
Tough choice
But these did not come easy for Tan, who started working for others as a marketing executive.
STANDING tall and proud, Tan at one of Megaworld’s projects, The Eastwood City.
“Business was tough when I started my first company. When you don’t have much capital, it is paramount that you exercise your nose a lot, much like a dog that never ceases to sniff out for food. You cannot afford to fail and lose vital resources. That is how you develop an instinct for success,” Tan relates.
He reveals that two weeks after they launched the first Megaworld project in 1989, the bloodiest coup threatened the Cory Aquino administration.
“Considering that Megaworld then was a start-up, the decision to pursue this project was one of the toughest I made,” Tan notes.
“The Asian financial crisis in 1997 also tested me and Megaworld a lot. The crisis especially threatened the real estate industry. Banks were very averse to lending. We were able to overcome this and come out stronger by being innovative. Megaworld launched Eastwood City, our first integrated township project with the live-work-play mantra, in the late 1990s,” he explains.
Today, Eastwood City is what Tan now considered as the “epitome of a successful development: Eastwood City Cyberpark has been named as the No. 1 IT park and counts more than 40,000 employees, while our condo residents enjoy living here, and shoppers love visiting our new Eastwood Mall. Aside from that, we also have the new Eastwood Richmonde Hotel for business and leisure travelers.”
Important lessons
“My experience of this crisis will be important lessons to my children in the future,” he adds.
Tan shares that his recipe for success was simple: “Do not expect everything to turn out the way you want it to. Be ready for disappointments. You should have extra bullets left to help you fight another battle.”
“My philosophy as a businessman is really quite simple: Just keep working and investing whatever profit you make in new businesses. That way, you generate more jobs and help the country’s economy grow,” he explains.
Tan reveals that he spends most of his time working and for that reason, he notes that he doesn’t get to spend money that much.
“After all, you also need time to spend your money,” he adds.
Hands-on management
According to Tan, he is hands on with his businesses, particularly those involved in the real estate industry. He says he devotes a lot of his time running the company’s day-to-day operations.
Indeed, Tan has already gone far from his dream of owning a small grocery store, to earning the highest honor the Republic of the Philippines accords any Filipino or foreign national.
And yet, nothing seems to stop Tan from expanding and further building more structures, particularly residential developments and BPO offices.
In particular, Megaworld has been reported to be developing more than 40 residential projects and several BPO offices in Metro Manila, with 11 projects to be launched within the first half of 2012.
Last year, Megaworld has unveiled eight new projects, namely: One Eastwood Avenue, 101 Newport Boulevard, One Uptown Residence, Manhattan Heights Tower 2, Viceroy Tower 1, Greenbelt Hamilton and Belmont Luxury Hotel in Metro Manila. Megaworld has also launched its first project in Cebu called 8 Newtown Boulevard.
“Real estate is the industry that’s closest to my heart. I wake up every morning with a feeling of excitement, knowing that I will be building more homes and helping more Filipinos realize their dreams of owning a home,” Tan concludes.
Photos by August dela Cruz
