Cover David Leechiu
David Leechiu
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The CEO and co-founder of Leechiu Property Consultants believes that in the past two years, the global economy has faced threats like never before—and it calls for businesses to succeed using the time-tested approach of working hard
Renowned property expert David Leechiu believes in the importance of giving sound advice to clients, especially with the presence of post-pandemic trends in real estate. This Tatler Asia’s Most Influential 2022 lister acknowledges the difficult and painful years of COVID-19. However, he looks back on it with pride as his company Leechiu Property Consultants (LPC) managed to uphold its commitment to its clients and staff.
Read also: Was real estate a good investment in 2021? Demand still grows in PH property market, data reveals
What projects in the last two years are you most proud of? Why?
David Leechiu (DL): We kept every one of our staff, protected them, and gave each one as much financial and health support as we can possible (advancing 13th and 14th-month bonuses to the beginning of the year, funding vaccine and booster shots for every member of the household of each employee to name a few) despite an 80 per cent drop in our revenues during the pandemic. We believe that our employees are our biggest assets and we shred as many expenses and deployed that to fund employee needs where it mattered most.
For our company’s primary thrust, we collated as much information, simplified it, and made it relevant and accessible to everyone. This enabled us to give as much fact-based property advice to clients across industries.
Above David Leechiu and Jeannie Goulbourn
David Leechiu and Jeannie Goulbourn
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What challenges do you see now in your respective industry? How do you intend to help address these challenges?
DL: The global economy is under threat as never before, summarised by the 15 risk global risk points (from CNN and Bloomberg, which I paraphrase herein): Global inflation, global interest rate hikes, global currency crisis, global warming and its consequences, global food shortages, a global rise in poverty levels and wealth destruction, global asset deflation, global logistics constraints, war, the real estate, mortgage and banking crises unfolding in China, global commodities crisis, COVID-19, Monkeypox, and global real estate crisis—to name a few (whew!).
The Philippines is in a precarious state where our growth has been and continues to be threatened. There is a minuscule margin of error in every move we make as a country. All of these affect the real estate and construction industries. We will continue to adapt and succeed by using the same time-tested approach: working very hard, keeping our heads high as we face these headwinds, and making fact-based information available to as many as possible so people can make sound and reasonable decisions.
Above David Leechiu and Tessa Alindogan share their thoughts on real estate trends today in this intimate discussion held at 8 Benitez Suites, Rockwell, Makati (Photo: Tatler Philippines)
David Leechiu and Tessa Alindogan share their thoughts on real estate trends today in this intimate discussion held at 8 Benitez Suites, Rockwell, Makati (Photo: Tatler Philippines)
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What can you say to those who want to follow in your footsteps?
DL: I always draw inspiration from Jack Ma, a quote that’s apt in today’s times which I share with everyone: “Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.” I have been criticised repeatedly for being bullish, the so-called very naive “new prophet of boom”—but we in the company ground ourselves on the brutal reality of daily life—we are fully aware of the problems and challenges of this country (there are many!), that is why we are just cautiously optimistic, and it is driven by facts, such as but not limited to the OFW remittances, BPO industry, tourism and President Marcos’ Build Better and More Infrastructure Program.
Above David Leechiu (Photo: Tatler Philippines)
David Leechiu (Photo: Tatler Philippines)
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Who do you look up to for guidance, inspiration, or mentorship?
DL: There are many who inspire and continue to give goodwill to my colleagues and me. But to name a few, the families behind SM and JG Summit are the best examples of hard work, discipline, competence, humility, and a sense of responsibility, and make us realize how to treat others and what really matters in life. Personally, my children, mother, my partner, and my siblings are a constant source of motivation to strive for a better future. I am always going to be grateful to those who took a risk on me and my colleagues.
What are your plans for the coming years and what keeps you going?
DL: I thought I have peaked in my career, but I realised very recently that I am just at base camp, looking up to the fortress that is Everest. So I’m currently rebuilding my ten-year plan, to establish how I can still be relevant and of value to everyone around me and to the country.
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