Henry Sy's ancestral home in Jinjiang in the Fujian province of China is one of the few reminders of the billionaire founder's humble beginnings. Today, the family’s wealth includes stakes in the Philippines’ biggest bank Banco de Oro BDO and the country’s biggest property company and mall operator SM Prime.
Not content with that, the family and its holding companies are looking for new areas of growth. Among the most ambitious is a plan to reclaim 300 hectares of land along Manila Bay, located close to SM Investment's massive Mall of Asia complex. “The stock of land is limited in Metro Manila,” Jose Sio, SM Investments’ chief finance officer, told...
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