The Success Story of Construction Magnate David Consunji

On this day, October 18 in the year 1921, the man considered as the father of the construction industry in the Philippines was born in the province of Bataan. His name was David Mendoza Consunji, the founder of DMCI Holdings, one of the biggest conglomerates in the Philippines. According to forbes.com, he was the 6th richest Filipino in 2017 with a net worth of $3.68 billion.

David Consunji
David Consunji

David Consunji was the son of a farmer in Hermosa, Bataan – a small town northwest of Manila, the capital city of the Philippines. He attended the University of the Philippines where he finished a degree in civil engineering in 1946. After graduation, he became a teacher in Bataan with a monthly salary of P100 or $2. Later, he went to apprentice with his engineer-uncle for several months before he got his real job as a concrete inspector working with Swiss managers in a building construction.

In 1954, David Consunji founded his own construction firm which he named D. M. Consunji, Inc. With his legendary work habits and his attention to details, he was able to gain the trust of the government and biggest private corporations which awarded big projects such as manufacturing plants and high rise buildings. From 1971 to 1975, he was designated as Secretary of Public Works under the presidency of Ferdinand Marcos.

During the next decades, DMCI grew to become the largest construction company in the Philippines. In 1995, he established DMCI Holdings to consolidate his varied business interests which now encompass home development, coal and nickel mining, infrastructure and power generation. Three years later, the holding company was listed at the Philippine Stock Exchange.

In 2014, David Consunji stepped down as chairman of his company. His eldest son, Isidro, took over his role. On September 4, 2017, he died at the age of 95. He had 8 children with his wife Fredesvinda Almeda.

See also: List of Famous Filipino Entrepreneurs

References
https://moneysense.com.ph/david-m-consunji-building-a-legacy
https://www.forbes.com/philippines-billionaires/#4952a4f37776
https://www.bloomberg.com/billionaires/profiles/david-m-consunji/
https://asia.nikkei.com/Business/AC/DMCI-Holdings-founder-David-Consunji-dies-at-95
https://www.dmciholdings.com/our_company/page/business-profile

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