Lourdes Gutierrez-Alfonso —CONTRIBUTED PHOTO
Newly appointed Megaworld Corp. president and CEO Lourdes Gutierrez-Alfonso, tasked with continuing the multibillion-peso expansion plan of the Andrew Tan-led property developer, was recognized as one of Forbes Asia’s 20 outstanding women leaders in the region for steering their companies despite global economic uncertainties.
The annual list likewise recognized them for being the first women to hold leadership roles in their respective companies.
In Alfonso’s case, the 61-year-old executive succeeded Megaworld founder Tan in June after more than three decades, thus stepping into a role with a gargantuan task: Megaworld plans to spend P350 billion until 2027 to further expand its township and hospitality empire.
READ: Gutierrez-Alfonso upholds meritocracy at Megaworld
The company currently has 34 townships—just one project short of its year-end goal. Megaworld likewise aims to expand its hotel portfolio to 12,000 rooms from 8,000 across 19 properties currently.
Alfonso was included in the list of women and new-generation business leaders with “proven track records” and who are “ready to face any difficulty head-on.”
“From leading property developers and financial institutions to innovating in EVs (electric vehicles) and manufacturing, they are instilling bold strategies and a renewed sense of optimism in industries across the region,” Rana Wehbe Watson, editor of the list, said in a statement.
Forbes highlighted that Alfonso’s new role would be a challenge, especially since mortgage rates in the country remained high.
While the Bangko Sentral ng Pilipinas has so far cut its key policy rate for overnight borrowing by a half-point to 6 percent, experts have said that this would not immediately translate to lower prices of properties.
“Borrowing costs remain high while rival builders are aggressively constructing hotels in anticipation tourism will rally as the government and private sector invest heavily in infrastructure, including airports,” Forbes said.
Still, Megaworld has expressed confidence in Alfonso’s leadership, given her extensive experience in real estate, as well as her background in finance and marketing.
Prior to her appointment, Alfonso was Megaworld’s chief operating officer. She was also a director, member of the board and management executive committees, and senior vice president for finance and administration.
Innovator
Alfonso concurrently sits as director of the property developer’s affiliates, including listed Global-Estate Resorts Inc. and MREIT Inc.
A certified public accountant by profession, Alfonso joined Megaworld in 1990, or six years after obtaining her bachelor of science degree in accounting from Far Eastern University.
Tan, who was on Forbes’ list of billionaires in 2024 with an estimated net worth of $1.9 billion, remains the company’s chair.
Alfonso joins other women innovators across Asia, including Shina Chung, who recently took the helm of technology giant and instant messaging app Kakao as its first female CEO.
Also on the list is Stella Li, executive vice president of BYD tasked with overseeing the EV giant’s operations in the Americas and Europe.