Michael Cosiquien, a prominent figure in the Philippine construction industry, is making a name for himself in the housing market through ISOC Holdings. After a successful tenure at Megawide Construction Corp., he now aims to provide affordable luxury homes.
From Humble Beginnings to Industry Leadership
Cosiquien's journey began at a family-owned hardware store in Libertad, Pasay, where he learned the basics of construction. By age seven, he was already hands-on, assembling and repairing various items.
There, I could do almost anything,” Cosiquien recalls. “I’m not really dreaming of becoming the biggest, but we want to be always relevant.”
Michael Cosiquien, Chairman of ISOC Holdings
After stepping down from Megawide in 2017, he established ISOC Holdings, which now oversees projects in property, energy, and cold storage.
Navigating a Challenging Market
The launch of ISOC's flagship project, I-Land Residences Sucat, coincided with the pandemic's peak. Despite market volatility, Cosiquien remains optimistic, noting strong demand for their residential units.
- Sales volume grew by 7% year-on-year.
- Sales value increased by approximately 18%.
To bolster growth, ISOC is investing about P500 million in residential development this year, with each new tower projected to require nearly P1 billion in funding.
Defining Affordable Luxury
Cosiquien describes affordable luxury as providing spacious living in a crowded Metro Manila. At I-Land Residences, extensive open spaces and amenities are prioritized, contrasting typical high-end developments.
Units range from approximately P3.7 million to P7 million, targeting end-users rather than investors.
Future Aspirations
While ISOC has not yet considered going public, Cosiquien is focused on expanding the brand beyond Sucat. A new project is planned in Cavite, aimed at maintaining their affordable luxury vision.
As Cosiquien continues his construction journey, he remains dedicated to creating homes that are accessible to more Filipinos.