real estate industry

Greggy Araneta’s son is new president of Araneta Properties

Isagani de Castro Jr.

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Greggy Araneta’s son is new president of Araneta Properties

ARA. From left: Araneta Properties Inc. (ARA) chairman Gregorio "Greggy" Araneta III, ARA President Crisanto Roy Alcid, and ARA Treasurer Luis Marcos Araneta.

Cropped screenshot of Ayala Land Inc. handout

Luis Marcos Araneta is the new president of Araneta Properties, following the resignation of Crisanto Roy Alcid from the post. Alcid stays as treasurer.

MANILA, Philippines – How difficult is it to work for the companies of President Ferdinand Marcos Jr.’s brother-in-law, Gregorio “Greggy” Araneta III? 

Apparently, one needs to have a lot of stamina and energy to be able to cope with the work load. 

In one of those rare instances that a publicly listed company disclosed the reason for the resignation of its high-ranking executives, Araneta Properties Incorporated told the Philippine Stock Exchange on Thursday, February 22, that its president Crisanto Roy Alcid, had resigned. 

The reason? Too much work. 

“We wish to inform you that due to the vast amount of work associated with Gregorio Araneta, Inc. and the Gregorio Araneta III group of companies, Mr. Crisanto Roy Alcid has tendered his resignation as the president of Araneta Properties Inc. (the “Corporation”) which the Board of Directors has accepted. The resignation shall take effect the end of business day on February 21, 2024,” Araneta Properties said in its disclosure. 

Most corporate disclosures on changes in high-ranking officials often just say “personal” or “retirement” under the column on Reason for resignation/cessation, so this particular disclosure is uncommon.

As of December 2022, Araneta Properties had 30 employees: 7 executives and managers; 5 consultants, and 18 rank-and-file plus supervisors. 

Luis Marcos Araneta, treasurer of Araneta Properties, was elected president replacing Alcid effective Thursday. Luis is the youngest son of Greggy and Irene Marcos Araneta, the President’s younger sister.

ARANETA PROPERTIES PRESIDENT. Luis Marcos Araneta with wife Alexandra Rocha Araneta, on July 2, 2022 following the assumption to office of Greggy’s brother-in-law, Ferdinand Romualdez Marcos Jr., as Philippine president. Screenshot from Alexandra Rocha Araneta/Instagram

Luis, who is in his late 30s, is married to television and event host Alexandra Rocha Araneta. 

Alcid, however, will stay with the company after he was elected treasurer vice Luis Araneta. 

Luis has a Business Administration in Management degree from the private school, Pace University, in New York City. He was elected director of Araneta Properties in 2012 and has served as business development manager of the real estate company.

His younger brother is Alfonso Araneta, an executive in various companies of the Gregorio Araneta III group of companies. 

Alcid, who is in his mid-50s, has a Bachelor of Science in Management Engineering from Ateneo de Manila University and completed the General Management Program at Harvard Business School. He was previously connected with Ayala Land, Asiatrust Development Bank, and Citibank NA. 

Residential projects

One the major projects of Araneta Properties is the high-end subdivision Colinas Verdes Residential Estates in San Jose del Monte, Bulacan. This is a joint venture with Sta. Lucia Land, Incorporated.

As landowner, Araneta Properties gets 40% of net proceeds from sale of real properties while Sta. Lucia, which is responsible for the subdivision development of Colinas Verdes, gets 60%.

The three phases of Colinas Verdes have been completed, and 78 subdivided lots have been sold. Colinas, however, was still operating at a loss as of third quarter of 2023.

The company is hoping that the completion of the MRT-7 rail project connecting Quezon City to Norzagaray, Bulacan, will boost the real estate business in the area. 

JOINT VENTURE. Ayala Land Inc. and Araneta Group officers hold a board meeting in 2022. From left (positions are as of November 2022): ALI SVP and Altaraza Development Corporation (ADC) board member Anna Ma. Margarita Dy; ALI and ADC CFO Augusto Bengzon; ALI president and ADC chairman Bernard Vincent Dy; ALI SVP and ADC president Robert Lao; Araza Resources Corporation (ARC) chairman and ADC board member Gregorio Ma. Araneta III; ARC vice president and ADC treasurer Crisanto Roy Alcid; and GA Incorporated director and ADC vice chairman Luis Araneta. Handout

In 2022, Araneta Properties formed a joint venture with Ayala Land Incorporated (ALI) – Altaraza Development Corporation(ADC) – to develop 600 hectares of land in San Jose del Monte. Altaraza will invest P20 billion for this development, which includes expanding ALI’s Altaraza, a mixed-used 40-hectare estate launched by ALI in 2014.

Most of Araneta Properties’ land assets are in Bulacan, and in Laoag City, Ilocos Norte, the home province of the Marcoses.

Araneta Properties accumulated its land bank in San Jose del Monte through the years from various entities, including Rodolfo Cuenca (50,094 square meters); Insular Life Assurance Company (580,154 sqm); BDO Strategic Holdings Incorporated (926,550 sqm); and Don Manuel Corporation (410,377 sqm).

Not to be confused with Araneta Properties is Araneta City in Cubao, which is under the Araneta Group of companies led by its CEO/President/Chairman Jorge L. Araneta with Judy Araneta Roxas as vice-chairman.

Aside from being chairman/CEO/director of Araneta Properties, Greggy Araneta held the following posts as of December 2022: 

  • president and chairman of Araza Resources Corporation (ARC) and Carmel Development Corporation; 
  • chairman of Gregorio Araneta Incorporated, Gregorio Araneta Management Corporation, and Gamma Holdings Corporation;
  • president and chairman of Energy Oil and Gas Holdings Incorporated;
  • president and chairman of Belisama Hydropower Corporation, and Gregorio Araneta Energy Holdings Incorporated;
  • chairman of Philweb Corporation
  • director of ISM Telecommunications Incorporated.
Greggy Araneta’s son is new president of Araneta Properties

Greggy is a certified Blue Eagle. He has an economics degree from the Ateneo de Manila University. He also studied at the University of San Francisco. – 


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Isagani de Castro Jr.

Before he joined Rappler as senior desk editor, Isagani de Castro Jr. was longest-serving editor in chief of ABS-CBN News online. He had reported for the investigative magazine Newsbreak, Asahi Shimbun Manila, and Business Day. He has written chapters for books on politics, international relations, and civil society.