Meet the Manigsacas: Cebu's Rising Powerhouse
Many of the Philippines' affluent and influential families hail from Cebu, including the Gokongweis, Aboitizes, Lhuilliers, Gothongs, Gaisanos, Gotianuns, and Gotinuys. In recent decades, a lesser-known family is making its mark across various industries including construction, real estate development, hospitality, and healthcare. Meet the Manigsaca family, led by the dynamic duo of Ray and Venus, alongside their children Patrick and Samantha.
The family's Cebu-based and homegrown property developer, AppleOne, built some of the prominent structures in the province. These include the Sheraton Cebu Mactan Resort, a 261-room hotel and resort; Diamond Suites and Residences, a three-star rated business and leisure hotel; The Residences at Sheraton Cebu Mactan Resort, a 22-storey condominium development; VisayasMed City Center, an integrated medical complex; AppleOne Banawa Heights, Cebu’s very first residential gated condominium; AppleOne Equicom Tower, a 19-storey mixed-use development; a chain of Regus Centers that provides of flexible office spaces; and the soon-to-rise Mahi Center, an all-in-one business and lifestyle hub.
Facade of Sheraton Cebu Mactan Resort
Under Manigsaca’s leadership, AppleOne has invested in the Sheraton Cebu Mactan Resort in Lapu-Lapu and the JW Marriott Panglao Island Resort and Spa, which is poised to be a sought-after five-star resort in Panglao, as well as the JW Marriott Residences Panglao Island, which is set to open in 2028. In addition to this, AppleOne has also partnered with Radisson Hotel Group to build the first five-star hotel and internationally-branded residences in Cagayan de Oro city.
Sheraton Cebu Mactan Resort's Executive Suite Bedroom
AppleOne Group has earned the distinction of being the seventh-leading developer in the recent Philippine Property Market Report by Leechiu Property Consultants, Inc., surpassing other well-established names in the country.
A press release sent to Esquire Philippines reveals that the company is expected to launch several high-quality projects in the coming years, in response to a growing demand for upper midscale and upscale hotels. With 1,063 keys in development, the company is among the leading hotel developers contributing to the construction of 40,084 new hotel rooms over the next six to seven years, amounting to an investment of 250 billion pesos.
Lagoon pools at The Residences at Sheraton Cebu Mactan Resort
Humble Beginnings
The family's journey to achieving their current stature is truly inspirational. Both coming from middle-class families, Mr. Ray hails from Zamboanga, and Mrs. Venus is from Danao. Their story seems destined, having met as engineering students in 1985, leading to marriage and the founding of Ven Ray, their construction company, in 1993. With their background as contractors, they possess extensive knowledge in building and construction.
"In the beginning, kami lang talagang dalawa. Siya ang engineer at ako naman ang naghahanap ng projects," shares Mr. Ray, president and CEO of AppleOne. Their business evolved into a construction corporation focused on general contracting and other related services.
Interior of The Residences at Sheraton Cebu Mactan Resort
The bigger vision came in the mid-2000s, when they recognized the immense potential of real estate. "We find that real estate remains quite stable, unlike construction projects, which are seasonal. In real estate, especially with hotels and hospitality, the attraction is capital appreciation. For instance, we bought this property for around 10,000 pesos per square meter in 2014, and now it's valued at approximately 100,000 pesos per square meter. Besides capital appreciation, the income is stable, unlike in construction, where we need to constantly seek new projects," he says.
Using the earnings from their construction business, they generated the capital needed to diversify their ventures. They began by constructing properties one by one, from a small hotel, followed by a mixed-use development, and then developing Diamond Suites and Residences. Eventually, they expanded fully into a real estate company, founding AppleOne Properties Inc.
 Soon to rise is the Mahi Center, an all-in-one business and lifestyle hub.
Mr. Ray considers their background as builders and their familiarity with the place as a competitive advantage over other larger companies. "We usually initiate projects in areas where we have extensive knowledge. For instance, we developed the JW Marriott Residences in Panglao, Bohol because I am well-acquainted with Panglao. We are frequently there. We built the roads around that area," he shares.
They are also focused on premier developments. "For the longest time, we would always go to Shangri-La when they were young. I thought, why not create something similar? That's why we established a branded hotel here as well," he adds.
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A Family Affair
Today, the Manigsaca couple couldn't be prouder to have their children on board as part of their businesses. "At a very young age, we exposed them to the business. We really made sure that they received a good education to prepare them to eventually take the reins," says Mr. Ray.
Patrick studied business at Ateneo de Manila and later earned his master's degree in Project Management at the University of Sydney. Samantha, on the other hand, pursued Hospitality at Enderun College in Bonifacio Global City and obtained an MBA in Global Hospitality from Les Roches in Switzerland. Patrick holds the position of Executive Vice President at Suprea Phils. Development Corporation, which supplies ready-mixed concrete in the Visayas and Mindanao, while Sam is AppleOne Group's Vice President for Hospitality.
Ray and Venus Manigsaca with their children Samantha and Patrick
When they began their business, Mr. Ray confesses that the primary goal for him and his wife, Venus, was simply to secure their family's future. So they are now incredibly pleased to employ over 5,000 people through their ventures.
"We are very happy because we're also helping to put Cebu on the map with the Sheraton Cebu Mactan Resort, which is an international brand. The sense of fulfillment is different compared to when we were solely in the construction business," he remarks.
In the next five to ten years, the Manigsacas intend to broaden the reach of their businesses beyond Cebu, exploring opportunities in other regions across the country.
