Former LT Group Inc. president Michael Tan invested in start-up real estate firm Havitas Properties Inc.
HPI said in a statement Tan, president of Asia Brewery Inc., acquired a personal stake in the company.
HPI is newly-established real estate development company that is targeting property investors looking for passive income opportunities through income-generating vacation homes.
“The founders are excited to have Michael Tan on board. We’ve worked with him in the past, and his guidance, insight and experience will be a valuable asset to our company,” HPI president Jonathan Caro said.
Tan stepped down as president of LT Group, the listed holdings company of tycoon Lucio Tan, in May. He remained a director of the conglomerate.
HPI was established by real estate veterans Alejandro Mañalac, Jonathan Caro, Erwin de Pedro and David Rafael.
The company founders are all former and current senior executives of major real estate developers.
They are joined by Robin Karlsen, who brings to the team extensive international and local market experience in land acquisitions for international real estate developers.
HPI will initially focus on pocket developments of uniquely-designed vacation homes that have rental income potential.
HPI plans to develop 80 units of vacation homes with a four-hectare property in Talisay, Batangas. The project will be launched in the fourth quarter of 2023.
“Given our wide and complementary fields of expertise, we are able to look at a potential project from distinct angles and come up with a market leading development strategy”, said Mañalac who sits as chairman.
“We saw this property with a commanding view of Taal Lake and immediately realized that we could come up with a unique product, a lifestyle-oriented development of uniquely-designed vacation or staycation homes, with strong income potential from rentals,” he said.