Forbes’ inaugural 200 Best Over a Billion (BOB) list, a complement to Forbes’ 200 Best Under a Billion list, looks at the sales of the top-performing companies in the Asia-Pacific region. Of the eight Philippine companies that made it to the list, five have a land development arm that aims to improve the country’s landscape through real estate development.
Forbes Asia magazine revealed the list on Wednesday, naming the top 200 companies in Asia after careful evaluation of their performance. Following similar metrics used in the 200 Best Under a Billion list, Forbes evaluated the companies in over a dozen categories, including operating income growth, return on capital, average five-year sales, and their projected growth over the next one to two years.
The five Philippine real estate companies with reported revenues of $1 billion and up are as follows:
Ayala Corp
With $5.1B in reported sales, Ayala Corporation offers financial services, insurance, telecommunication services, information technology, and water infrastructure. Also contributing to Ayala Corp’s revenue are its subsidiaries that focus on real estate property development.
Ayala Corporation is no newcomer to Forbes’ lists as it has been named one of the World’s Best Employers 2018 and ranking 1259th in terms of profit on Forbes’ Global 2000 2019.
GT Capital Holdings
The investment holding company GT Capital Holdings, Inc. has a reported $3.8B in sales through its subsidiaries in the banking, automotive, infrastructure, utilities, insurance, and property development industries. GT Capital Holdings is the company behind Federal Land, which the holding company took full control of in 2012.
Founded in 2007, GT Capital Holdings has already proven its name in the industry as part of Asia’s Fab 50 Companies in 2015.
JG Summit Holdings
Founded in 1990 and with $5.3B in reported sales, JG Summit Holdings earned its place on the list through its ventures in the textile, consumer foods, and agro-industrial and commodity food products industries. JG Summit Holdings also has investments in the real estate, telecommunications, petrochemicals, air transportation businesses, and hotel and apartment management service industries. With almost 24,000 employees, the company is also able to provide banking and financial services.
Robinsons Land Corporation, JG Summit Holdings’ real estate arm, is a household name in Philippine real estate. The company is behind Robinsons Malls, Go Hotels, and Summit Hotels.
JG Summit Holdings is also included in Forbes’ Global 2000 in 2019.
Megaworld
Spearheaded by chairman Andrew Tan, Megaworld also joins the list with $1B reported sales through its subsidiaries in the real estate, hotel businesses, and marketing services. Megaworld has a diverse portfolio of developments, from condominiums to subdivisions.
Megaworld aims to “uplift lives, impact society, and help shape the nation” through its townships, residences, premier offices, hotels, and lifestyle malls. The multi-awarded company has been recognized nationally and internationally throughout its 30 years in the industry.
SM Investments
The investment holding company headquartered in Pasay has reported sales of $8.5B, establishing its reputation in the retail business, banking services, and real estate and property development industries.
SM Investments is also part of the Global 2000 2019 and ranks 158th in the World’s Best Employers 2018. It is also one of the Top Regarded Companies last year. SM Investment Corporations’ SM Prime, which started as a mall business in 1985, is now an integrated property developer focusing on world-class shopping malls, residential condominiums, commercial office buildings, resorts, leisure projects, and hotels and convention facilities.
The list, which uses similar metrics to that of BUAB, also reveals a correlation between the companies and the members of Forbes’ Asia-Pacific rich lists. According to Jonathan Burgos of Forbes, “Nearly about two-thirds of the companies on this list are controlled or connected to families or individuals who have appeared on Forbes Asia rich lists.”
Philippine companies Cosco Capital, Jollibee, and San Miguel Food and Beverage also made it to the list. Jollibee Foods, a former member of the 200 Best Under a Billion list, has graduated to BOAB, Forbes mentions.
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