In recent years, the sudden rise in loilo’s economy has sparked great interest in residential real estate development, attracting the attention of practically every major property developer with hopes of cashing in on city’s growing potential Subdivisions, villages, and gated communities now pepper almost every corner of the local terrain, with some even extending outward to the suburban reaches of her neighboring municipalities.
Yet before the boom, there were those who had already recognized the possibilities, beginning to develop land for residential communities decades before anyone else showed interest. The decision may have seemed risky back then for Henry Chusuey, but his foresight has, perhaps unwitingly landed him the distinction of being instrumental to the transformation of the Iloilo landscape.
Henry’s story is one of adaptation. His grandparent founded La Pepita de Oro, one of the most popular department stores of its time. His parents later vent on to run most of the cinemas within the city a responsibility he was to succeed in the 1980s. He then diversified into financing before recognizing the potential of what then was an untapped market. “There was A great business opportunity in real estate development,” he says. “The middle classes were strengthening; it was a buyer’s market.”
He established three corporations and built four subdivisions wichin Iloilo City and Oton, Westwoods Subdivision and Prime Estates among them. But despite his success, Henry has continued experience in to take risks. With virtually no hotel and hospitality management he almost singlehandedly built the Boracay Regency Beach Resort and Spa into one of the most popular resorts on the island. Future expansion plans include developments on Bohol’s Panglao and Palawan.
Even as he has now extended his transformative farther shores, he retains a quict fondness powers to the city of his birth. “My home will always for be lloilo,” he remarks. “And as she continues her steady rise as one of the economic centers in the country, you can count on me to be by her side.”
Source: Ilonggo Initiatives published by Iloilo Business Club (2011)
