The son also rises: A chat with Kevin Tan

It is easy to forget time when you’re inside Casa Buenas, a Spanish-Filipino restaurant located at the ground floor of Okura Hotel in Newport City. The vibe is homey and relaxing; the interiors, warm and inviting – from the Mediterranean-inspired Machuca tiles to the capiz fixtures. And then there’s the gastronomic adventure executive chef Godfrey Laforteza will prepare for you.

You’ll forget time all the more when you are chatting with Kevin Tan, the young dapper tycoon now at the helm of his father, Andrew Tan’s, sprawling business empire.

The 41-year old Kevin, Tan’s eldest son, runs the day-to-day business operations, enabling his father – although still very active as chairman of the group – to focus on other matters such as how to make his liquor blends even better.

The elder Tan is very passionate about brandy and other drinks, and spends a lot of his time now creating more perfect blends.

“He loves to mix and blend. He is very passionate about that,” Kevin said.

Many hats

As for Kevin, he wears many hats in the conglomerate – CEO of Alliance Global Group Inc; Megaworld chief strategy officer; Infracorp. president; MREIT president and CEO; and many more.

His father has given him a free rein in running the business empire, setting just one condition.

“He just told me not to give him headaches,” Kevin jested.

It’s a big responsibility, but so far, so good.

Because of the pandemic, Kevin has the enormous task of navigating through the worst crisis the world has faced since World War II.

Part of this is mapping out a recovery plan and future-proofing the empire.

MREIT: The Philippines’ biggest REIT

Toward this end, the group is joining the real estate investment trust (REIT) bandwagon.

Megaworld’s newly formed subsidiary MREIT is embarking on a P27.3-billion initial public offering, touted as the Philippines’ biggest REIT offering to date.

MREIT will offer secondary shares of up to 1.2 billion common shares at an offer price of up to P22.00 per share, with proceeds of up to P27.3 billion to be reinvested to further expand the group’s office portfolio.

Megaworld is targeting to complete 21 new office and commercial projects in the next five years across 11 townships in the country.

Kevin said the big-ticket projects would help the economy recover.

“These are big-ticket projects that we want to pursue as we look forward to full recovery of our economy and the return of consumer confidence to normalcy. All of these new developments will spruce up our new townships, and at the same time, further expand our rental income portfolio. More than 70 percent of these new projects are office developments,” Tan said during Megaworld’s recent annual stockholders meeting.

Out of the 21 projects, 15 are office developments which will rise in Uptown Bonifacio and McKinley West in Taguig City; Arcovia City in Pasig City, Iloilo Business Park in Iloilo City; The Upper East in Bacolod City, Capital Town in Pampanga; The Mactan Newtown in Cebu; and Davao Park District in Davao City.

Commercial projects in the pipeline are five lifestyle malls in The Upper East and Northill Gateway in Bacolod; Capital Town in Pampanga; Maple Grove in Cavite, and Highland City in Rizal; and one hotel in The Mactan Newtown.

All of the projects will strengthen Megaworld’s townships all over the country, known for their “live, work, play” concept. This distinct feature of being an integrated community has proven to be a successful and sustainable model during the pandemic, Kevin said.

Despite all the projects in the pipeline, Kevin is well aware that the future is still uncertain because of the pandemic.

Fortunately, he is not easily discouraged. He is driven, determined, and dedicated – and it shows in the energy that he exudes.

Pick-A-Roo

Last year, at the height of the lockdown restrictions, Kevin bravely ventured into a new business, partnering with Crystal Gonzalez, the former country head of Honestbee Philippines, to launch Pick-A-Roo, a new consumer delivery app meant to help customers transition to the so-called “new normal.”

The delivery app carries anything and everything one may need, especially at this time when people are mostly stuck at home – from milk tea to dumplings, from shampoo to lotion. It delivers within Metro Manila and selected areas outside the metro. The app is easy to use and has an above average rating on the app store.

Kevin is proud of Pick-A-Roo, saying that there’s really a lot of room for growth, especially in this new normal, and it provides consumers convenience at this difficult time.

Indeed, Kevin is one busy man these days, stirring his father’s empire toward a brighter future.

His father surely feels more relaxed now with Kevin handling the day to day stuff. Perhaps it’s the reason Andrew Tan now has all the time to dance to his heart’s delight over a McDonald’s BTS meal.

Iris Gonzales’ email address is [email protected]. Follow her on Twitter @eyesgonzales. Column archives at eyesgonzales.com