When Lourdes Gutierrez-Alfonso looks at numbers, she cannot help but see stories — stories that she has helped shape, build and grow in the past 34 years, even before she became president of one of the country’s most successful real estate corporations.
By JOSE PAOLO S. DELA CRUZ
In the first half of 2024, property giant Megaworld reported an impressive net income of P9.81-billion, marking an 11 percent increase from the same period last year. Consolidated revenues also soared by 22 percent year-on-year to P39.1 billion, which according to a Megaworld statement, “highlights the strong performance and resilience across the company’s diverse business segments.”
Real estate sales also rose by 30 percent to P24.82-billion year-on-year, due to the high demand for residential properties in various township developments, particularly in Taguig City, Cavite, Bulacan, Palawan and Cebu. The list goes on.
For Megaworld president Lourdes Alfonso, though, these spectacular numbers are so much more than figures on a spreadsheet. “When I look at numbers, I see stories — big stories. That’s one of the things that my very first accounting professor taught us. You have to look at numbers and see the bigger picture,” says the certified public accountant.
“You have to see that story and use it to grow the company,” adds Lourdes, who graduated cum laude from the Far Eastern University with the degree of Bachelor of Science major in Accounting in 1984.
And that is exactly what she has done over the past decades, as employee Number 2 to Megaworld’s founding chairman Dr. Andrew Tan, who fondly styled her PLGA, shortly after she took the reins as the company’s president in its 35th year.
Before PLGA
“We started very small, in a 150-square meter space in Makati that we even shared with Dr. Tan’s three other companies. There were only five of us back then, and that included Dr. Tan himself,” she recalls with a hint of nostalgia.
Unlike what some might imagine, the company was not born on a bed of roses. Established in 1989, Megaworld Corp. had to survive one crisis after the other — several coup d’etats, the great earthquake of 1990, the Mt. Pinatubo eruption and the Gulf War in 1991, to name a few. The struggles would continue as the Asian Financial crisis hit in 1997, and as the peso took a nose dive and interest rates soared in 1998. “I really thought during that time that we wouldn’t survive. The company didn’t have much capital. We also didn’t have a deep bench since we just had five people. We didn’t have any landbank,” she says.
What didn’t kill Megaworld made it stronger.
And for Lourdes, it’s mostly because her boss was such a visionary leader. “He even told us ‘No, we will not be a single building developer. We will be a township developer!’ I saw Dr. Tan driving the company forward. He inspired everyone to keep going, and that is why I chose to stay. Now the rest is history, and today we are celebrating our 35th year,” she says.
No truer words were ever spoken. In time for its Emerald anniversary, Megaworld is well on track toward completing 35 townships by the end of the year. From its lean and mean team of five, the company now has 5,000 employees. It is projected to reach a leasing portfolio of three million square meters by 2030.
And from one milestone to the next, Lourdes keeps a watchful eye on the numbers that tell the story.
Communication is key
“I always set aside time to communicate and converse with our employees every week. I go where they are, I listen to them. I believe there’s value in sharing our vision with our 5,000-strong employees. We would like them to feel that they are part of what we are doing here in Megaworld,” she tells PeopleAsia.
That vision comes hand in hand with a mission to uplift lives, impact society and help shape the nation. For Lourdes, it spills over to her other roles as a respected business leader.
Aside from being president of the company, she is also the corporate secretary of Megaworld Foundation, which is committed to making a positive impact on the communities it serves through granting academic scholarships, promoting the spirit of bayanihan through employee-volunteerism initiatives, or partnering with various organizations across the Philippines to help uplift the lives of Filipino families.
She is also a trustee of Habitat for Humanity Philippines, which aims to help build decent homes for every Filipino family; and a trustee of the Asian Theological Seminary, which provides quality education and training for outstanding servant leaders.
And while Lourdes, who hails from a family of teachers, carved her own path as a CPA, she believes that her role in Megaworld has helped her follow their footsteps, as she mentors and coaches her growing, multi-generational team. “Megaworld grew exponentially during the last 10 years, when teamwork played a major role. If there’s anything that I’d like to hand down to the next generation, it’s the culture of openness and collaboration with everyone,” she adds.
This woman is no island, either. “I like listening to people, collaborating and exchanging ideas. For me, that’s one way to encourage, practice and harness the innovative mindset of the entire team,” she adds. “I want to train and nurture the new generation of leaders in our organization by empowering people. I want to see them flourish as they make decisions and take accountability for those decisions.”
No need to choose
Despite having successfully navigated her way to the top, Lourdes looks back at the journey that was with gratitude and grace. “I started my career at a time when it was challenging for a woman to have a seat in the boardroom or even the meeting room, but I was so blessed. After my first two jobs, I am blessed that I am now here in Megaworld, where we practice a culture of meritocracy. It’s not about the gender or the number of years that you have, but your performance and your determination to excel,” she says.
Inclusivity, she believes, plays a crucial role in Megaworld’s success. After all, women make up a significant portion of the company’s leadership. “As a career woman myself, I stand in unity with all the rest of the working women who strengthen the workforce and bring their unique skills, talents and gifts to the table,” she adds.
The past 34 years haven’t been all about work either. Unknown to many, Lourdes, too, marked a personal milestone, when she married her husband, Dr. Rafael Alfonso, just 10 days after she joined the team. Together, they raised their now 32-year-old daughter, who has since given her “a beautiful grandson.”
In their home, she takes on yet another meaningful role as a loving wife, mother and grandmom. She also enjoys life’s simple pleasures such as reading books, watching movies and being surrounded by her immediate family and spiritual families in church.
At the end of our conversation, Lourdes shares that her faith in Jesus Christ is her north star in everything she does — be it at work, at home, in life.
“I’d like to lead like Jesus, love like Jesus, and live like Jesus. He leads with humility in the midst of His authority. He demands accountability for the resources and roles given to each one. He maintains relationships and has the mindset of stewardship. And for that, He loves us unconditionally. The least we can do is to follow Him and live like Jesus,” she concludes.
Photography by DIX PEREZ
Art Direction by DEXTER FRANCIS DE VERA
Styling by MIKE DE GUZMA and GEO PALMIANO
Hair and makeup by LARS CABANGAN
