The Philippines itself has seen numerous high-flying real estate firms come crashing down, leaving in their wake unfinished projects, disgruntled buyers, and creditors knocking on their doors.
One company that has had its ear to the ground in the local property sector for over 50 years now is Asian Pacific Group of Companies (APGC), a real estate marketing, sales, and development conglomerate that has weathered the ups and downs of the industry, including the 1997 Asian Financial Crisis.
InsiderPH sat down with Dante de Guzman, vice-chairman of APGC and CEO of subsidiaries Asian Pacific Estates Development Corp. (Apedco) and Asian Empire Corp. (AEC), to learn more about the firm’s beginnings, how they overcame challenges, the rising demand for luxury properties, and his outlook for the industry.
The early years
The martial law period can hardly be considered an auspicious time to form a company. Yet Arsenio “Jun” de Guzman Jr., a determined Zamboangeño and Lyceum University graduate, and Dante’s father, was unfazed. The younger de Guzman recalls that his father started out as a raincoat salesman before joining V.V. Soliven Realty Corp. in the 1960s, which was then a fast-rising real estate outfit.
Despite the uncertainties of the times and his desire to strike out on his own, Arsenio formed Asian Pacific Realty and Brokerage Corp (APBRC) in 1973 with the goal of “placing a roof over the head of every Filipino family.”
“In a small Quezon City apartment in Kamuning with just one table and three chairs, he and my mother Gloria founded Asian Pacific together,” Dante says.
Over time, the couple was able to connect and form networks with other real estate practitioners, initially selling and marketing projects of Filinvest, the Monteverde Mansions in San Juan, and later for Sta. Lucia, their steady partner to this day.
Business proved brisk, and soon enough, APBRC transferred to the Doña Consolacion Bldg. in Cubao, just as the number of accredited agents began to rise.
A period of growth
The late 1970s and the advent of the 1980s marked a period of growth for Asian Pacific, expanding beyond Metro Manila to include projects in provinces such as Mariveles, Bataan.
“Don’t put your eggs in one basket,” Arsenio would tell his agents, referring to the need to diversify their inventory to other parts of the country.
By 1985 Asian Pacific had built its own two-story building on Harvard Street in Cubao, the Asian Pacific Center, which today stands as a six-story commercial building.
“Maganda camaraderie ng salesforce,” recounts one of the agents during that busy period. “Libre mga tripping kapag may open house tapos overflowing ang softdrinks.” (The camaraderie among the salesforce was very good. Trippings or site visits during open house events were free and soft drinks were overflowing.)
Riding the boom and bust
By the 1990s during the height of the real estate boom, Asian Pacific’s presence further expanded to include the Visayas-Mindanao region—Bacolod, Iloilo, Cebu, and Cagayan de Oro—with a peak inventory amounting to about P6 billion.
The group also began extensive land banking activities in Nueva Ecija, Urdaneta in Pangasinan, La Union, and Mactan, Cebu, while launching their own development projects, such as the Don Bosco Executive Village in Cavite and El Puerto Real in Batangas.
New subsidiaries were also formed—Asian Pacific Sales Inc., Asian Pacific Marketing Inc. and Asian Pacific Condo Network Inc.—the latter reflecting the inclusion of condominium developments to their inventory.
While the Asian Financial Crisis of 1997 hit the real estate industry hard, Asian Pacific was able to survive, says de Guzman, thanks to their numerous projects nationwide. Revenue flow remained steady, he adds.
Demand for luxury real estate
Asian Pacific, which today has three of Arsenio’s children actively involved, along with 30 PRC-licensed salespersons, also has island properties in its inventory, all in Palawan.
“Most inquiries come from affluent individuals who are looking for a lucrative investment. The demand for luxury real estate, particularly private islands, has increased in recent years, just right after the pandemic,” says de Guzman.
Growth areas for residential real estate, he says, are Pampanga, Bulacan, Cavite, Laguna, and parts of Batangas like Laiya and Nasugbu. In Metro Manila, business districts such as BGC, Makati, and Ortigas are also projected to experience continuous growth over the next 10 to 15 years.
A visionary leader
Longtime employees and agents of Asian Pacific describe their chairman, Arsenio de Guzman Sr., who is also a former vice-president of the Chamber of Real Estate and Builders’ Associations (Creba) and treasurer of FIABCI-Philippines, as a visionary.
“Si Mr. de Guzman, kapag sinabi niya yung tinatawag niya na vision, iyung dating bukid lang na nagiging subdivision, nagkakatoto,” says an agent. (Whenever Mr. de Guzman envisions something, such as farmlands becoming subdivisions, it comes to life.)
The younger de Guzman attributes this success to his father's relentless pursuit of knowledge. Even at 84, de Guzman Sr. continues to stay informed about real estate trends. His key to success?
"You need to be passionate, persistent, and patient," says the son.
Dante and his siblings take these valuable attributes to heart as they work to bring the Asian Pacific Group of Companies to its next stage of growth and expansion, carefully navigating the cycles of the property sector.
Features Reporter
