PhilRealty revamps top management

MANILA, Philippines - Publicly-listed Philippine Realty and Holdings Corp. continues to reclaim its top position in the local property sector with a new management at the helm.

Andrew Alcid — former CEO of PhilRealty’s controlling shareholder, Greenhills Properties Inc. — now occupies the top post as president and CEO. The developer will also have Gerardo Domenico Lanuza as executive vice president and COO, Vincent Fisher as CFO, Jose Ramon Olives as chief brand officer and Erwin Ciar as vice president for construction.

Alcid brings with him over 25 years of experience in the financial services industry, most notably with Citibank (New York, Los Angeles, Hong Kong and Manila), Merrill Lynch (New York) and Salomon Brothers Inc. (New York), and locally with UCPB and BDO. He also served as CEO of the Philippine operations of AXA, the French insurer, prior to being involved in the development of Cavitex (toll road connecting Manila to Kawit, Cavite) as president/CEO of Coastal Road Corp.

The new management team will zero in on its efforts of rebuilding PhilRealty’s capabilities anchored on five pillars of growth: residential, office, specialized retail, master planned townships, and leisure. It will also build on its corporate social responsibility, whose roots will center on the underserved communities in the south.

PhilRealty has been in the business of land development for over 30 years. The company was a key player during the height of the development boom in Ortigas Center in the 1980s and 1990s, and was responsible for innovative landmark projects, such as the Philippine Stock Exchange Centre (Tektite Towers), The Alexandra, La Isla Condo, among many others.

PhilRealty also pioneered the concept of home replacement and gated condominium subdivisions in the Philippines — the idea of spacious, uncompromised home living within a vertical community — when it introduced The Alexandra in Ortigas. The development was a highly celebrated PhilRealty project that boasts of the largest land-to-occupant ratio in its category. The 33-story Tektite Towers, on the other hand, held the distinction as the largest office-building complex for decades after its completion.

Its newest project, Sky Villas at One Balete in New Manila, Quezon City is currently nearing the final phase of construction. It will have 113 residential condominium units in a gated, private and exclusive enclave called One Balete, with a planned turnover by mid-2016. Once completed, One Balete will have reinvented the concept of the family compound – a popular residential concept in New Manila neighborhoods.