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ADEZ
Realty, Inc. |
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ADEZ Realty
Incorporated was established by Antonio de Zuzuarregui, Jr. in the
Philippines sometime in 1960. It is a family-owned corporation comprised
of Enrique and Antonio de Zuzuarregui and Pacita Javier (uncle, father
and grandmother of Anthony de Zuzuarregui, USF ‘03). It was instrumental
in the real estate business of developing and subdividing lands, that
the de Zuzuarregui family inherited property from Antonio, Sr., which
was later to be sold to the public, and the business is now focused
on rental properties and simply managing capital and revenue it generates.
The business has 10 core employees, most of which have been with the
company for over twenty years.
The real roots of the family business could be traced to Antonio de
Zuzuarregui, Sr. a person described as knowledgeable and visionary.
Through hard work and being spendthrift, he acquired vast former Spanish
Friar lands from the Philippine government in the early 1900s (the
Philippines was under Spanish rule for over 300 years which ended
in 1898). These lands were mountainous and as many elders would describe
it “you wouldn’t think it would turn out like this.” It was later
filled, flattened, and was put to various uses over the years. This
same land however is what is sustaining the family and perhaps more
generations of the Zuzuarregui family to come.
Enrique is currently the president and was also the project mover
and thinker of the corporation. He moved to subdivide the land to
be sold to the public, using the desire of every family to own a house
and lot as a major influence on the development of the business. It
is important to note that the corporation partnered with some bigger
land developer in that ADEZ did not need to bring out capital for
the land development. This strategy proved to be successful in that
the corporation is debt free and therefore no obligations to others
are likely to encumber it in the future. Some of its parcels have
been subdivided. Other parts of the land, that weren’t subdivided,
are currently being leased to other businesses and have become the
primary source of income for the corporation. Further income is generated
through investments in money market, t-bills, and other instruments
using the capital derived from leases and the sale of the lots.
At 71 years old and going strong, who knows where Enrique and his
family will take the corporation in the years to come?
We are extremely proud to be associated with the ADEZ Realty, such
a fine establishment. We thank them for sharing this story with us.
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