Savvy, with plenty of guts, and a strong sense of vision, Andrew, 68, pioneered the “live-work-play-learn” concept of real estate development in the Philippines. He became enormously successful and he is now one of the Philippines’ 10 richest with a net worth of over $2 billion.
Tan’s Alliance Global Group Inc. is his investment holding company. AGI has a market cap of P159.76 billion. Andrew owns 57 percent of that or P91.06 billion. His Global-Estate Resorts, Inc. has a market cap of P16.698 billion. He owns 70 percent or P11.68 billion ($229 million).
Andrew is exceedingly richer than his $2 billion in AGI and GERI suggests. Andrew is the Philippines’ largest township developer, biggest hotel owner, biggest brandy maker, and second biggest fast-food operator.
AGI is one of the leading conglomerates in the Philippines, with interests in property development, food and beverage manufacture and distribution, quick-service restaurants and integrated tourism development businesses.
Andrew’s son, Kevin Andrew Tan, 37, is executive director of AGI. He has over 11 years of experience in retail leasing, marketing and operations.
AGI is diversifying into infrastructure. The 24-year-old conglomerate has created Infracorp Development, Inc., a new company that will handle infrastructure projects, particularly to participate in the government’s Private-Public Partnership projects.
Infracorp has submitted an unsolicited proposal to the government to build a 2-km monorail project called Skytrain that will link Fort Bonifacio to the MRT Guadalupe Station, which hopes to benefit around 60,000 to 100,000 passengers daily.
The project, which will utilize the automated cable-propelled monorail technology, will reduce travel time from Fort to MRT Guadalupe to only five minutes.
Under the proposal, a station will be built in Guadalupe, Makati near the MRT station and another in Uptown Bonifacio, a township development of AGI’s real estate arm Megaworld, at no cost to the government.
“Given the country’s strong and stable economy, we see a huge opportunity to invest in infrastructure. We are excited to participate and optimistic about the government’s aggressive push for infrastructure developments,” says Kevin L. Tan, executive director of AGI and president of Infracorp.
The Skytrain monorail project will take three years to construct and it could be interconnected with the subway system project passing through Fort Bonifacio that the government is set to build.