Top 10 Largest Conglomerates in the Philippines in 2024

Discover the powerhouses driving the growth of the Philippine economy with this list of top conglomerates, also known as the largest holding firms in the country.

These giant corporations, with their vast business holdings, significantly influence and shape the Philippine economy and entire industries.

Get to know their ownership and ventures as we share their business profiles one by one.

1. SM Investments Corporation (market cap. 1 trillion)

SM Investments Corporation is the largest conglomerate in the Philippines. It is the parent company of SM Group, which boasts a diverse business portfolio in retail, property, banking, and investments.

This Philippine titan has the highest market capitalization in the Philippine Stock Exchange Index and continues to expand and adapt to the ever-evolving market.

SMIC has solidified its presence in key industries and maintained its strong market position.

Core businesses:

  • Retail: 3,853 retail outlets
  • Property: 85 malls
  • Banking: BDO and China Bank
  • Investments: 2GO, Goldilocks, MyTown, Philippine Geothermal, CREIT, Atlas Mining, Neo Subsidiaries, Neo Associates, Belle Corp., Airspeed
biggest conglomerates in the Philippines right now


  • Chairman: Amando Tetangco, Jr.
  • Vice Chairperson: Teresita T. Sy
  • Vice Chairman: Henry T. Sy, Jr.
  • President and CEO: Frederic C. DyBuncio

2. Ayala Corporation (market cap. 379 billion)

Ayala Corporation is the oldest conglomerate in the Philippines and an empire of successful businesses. Its long-standing presence since 1834 and significant contributions to various industries have established a strong foothold in the country’s economy.

Its businesses are in real estate, banking, telecommunication, and power. It also engages in portfolio investments, education, industrial technologies, health, and logistics.

Core businesses:

  • Real estate: Ayala Land
  • Financial services: BPI
  • Telecommunications: Globe
  • Energy: ACEN
  • Emerging businesses: AC Health, AC Logistics
  • Investments: Manila Water, iPeople, AC Infra, AC Ventures
biggest holding firms philippines


  • Chairman: Jaime Augusto Zobel de Ayala
  • President and CEO: Cezar Juan P. Consing

3. JG Summit Holdings, Inc. (market cap. 250 billion)

JG Summit Holdings, Inc. is a prominent conglomerate in the Philippines with various interests spanning the air transportation, banking, real estate, technology, petrochemicals, food and beverage sectors.

It operates businesses that cater to a growing middle class with rising disposable incomes in the Philippines and Asia.

Since 1957, JG Summit has continued to innovate and expand its reach to other business segments, such as telecommunications and petrochemicals.

Core businesses:

  • Food and Beverage: Universal Robina Corp.
  • Airline: Cebu Pacific
  • Real estate: Robinsons Land Corp.
  • Technology: JG Digital Equity Ventures, Data Analytics Ventures
  • Petrochemicals: JG Summit Olefins Corp.
  • Investments: BPI, MERALCO, Singapore Land, PLDT, DHL, Gotyme Bank, LIPAD (Luzon International Premier Airport Development)
gokongwei companies list


  • Chairman: James L. Go
  • President and CEO: Lance Y. Gokongwei

4. San Miguel Corporation (market cap. 247 billion)

San Miguel Corporation was founded in 1890, and it was the first brewery in Southeast Asia. From becoming the largest beer producer, SMC is now among the top holding firms in the Philippines.

From brewery to infrastructure, San Miguel Corporation has made significant strides in different sectors. The company always focuses on innovations and strategic acquisitions to stay competitive in the market.

Core businesses:

  • Food and beverages: San Miguel Brewery
  • Oil Refining and Marketing: Petron
  • Cement: Northern Cement, Southern Concrete Industries, Eagle Cement
  • Packaging: San Miguel Yamamura Packaging
  • Properties: San Miguel Properties
  • Power and Energy: San Miguel Global Power
  • Infrastructure: SMC Infrastructure projects include Tarlac-Pangasinan-La Union Expressway (TPLEX), the Southern Tagalog Arterial Road (STAR), South Luzon Expressway (SLEX), the Skyway System, and the NAIA Expressway (NAIAX), Boracay Airport, the MRT-7 rail and road project, and the Bulacan Bulk Water Supply Project
san miguel corporation holding companies


  • Vice Chairman, President & CEO: Ramon S. Ang

5. Aboitiz Equity Ventures, Inc. (market cap. 208 billion)

Aboitiz Equity Ventures is the holding company of the Aboitiz Group, which originated in the late 1800s as a hemp trading enterprise in Ormoc, Leyte.

Its investments span the power, banking, food, real estate, construction, shipbuilding, infrastructure, data science, and artificial intelligence sectors.

AEV is currently transforming to become the Philippines’ first tech conglomerate. Let’s get to know their businesses.

Core businesses:

  • Power: Aboitiz Power, Aboitiz Renewables
  • Financial Services: UnionBank, UnionDigital Bank, City Savings Bank, PETNET, UBX PH
  • Food and agribusiness: Pilmico, Gold Coin
  • Infrastructure: Aboitiz Infra Capital
  • Real Estate: Aboitiz Land
  • Construction: Aboitiz Construction
  • Data Science and AI: Aboitiz Data Innovation
  • Shipbuilding: Tsuneishi Heavy Industries (Cebu)
aboitiz equity ventures subsidiaries


  • Chairman: Enrique M. Aboitiz
  • President and CEO: Sabin M. Aboitiz

6. DMCI Holdings, Inc. (market cap. 142 billion)

DMCI Holdings is a reputable conglomerate in the Philippines founded by Engr. David M. Consunji, the “grandfather of the Philippines construction industry.”

The company has successfully undertaken numerous construction and real estate ventures, showcasing innovation and quality. It has also expanded into energy, power, and mining.

DMCI notable projects include the first skyscraper in the Philippines, PICC, Enchanted Kingdom, Asian Hospital and Medical Center, and the largest IKEA store in the world.

Core businesses:

  • Construction: DMCI
  • Real Estate: DMCI Homes
  • Integrated Energy: Semirara Mining and Power
  • Off-grid Power: DMCI Power
  • Nickel Mining: DMCI Mining
  • Water distribution: Maynilad
DMCI holdings companies list


  • Chairman and President: Isidro A. Consunji

7. GT Capital Holdings, Inc. (market cap. 136 billion)

GT Capital Holdings has its roots in Metrobank, one of the largest banks in the Philippines, founded by Dr. George Ty in 1962.

Today, it’s among the top conglomerates in the country, with a dominant presence in banking, automotive, infrastructure, utilities, property development, and insurance.

With a focus on these industries, GT Capital has established itself as a key player in the market. The company’s family-owned structure and strategic global partners add a unique touch to its operations, reflecting a legacy of expertise and commitment to excellence.

Core businesses:

  • Banking and Financial Services: Metrobank, PSBank, First Metro Investment, First Metro Securities, First Metro Asset Management, ORIX Metro Leasing and Finance
  • Automotive: Toyota Motor Philippines, Toyota Financial Services, Sumisho
  • Property: Federal Land
  • Insurance: AXA Philippines
  • Infrastructure: Metro Pacific Investments
GTCap holdings subsidiaries


  • Chairman: Francisco C. Sebastian
  • Vice Chairman: Alfred Vy Ty
  • President: Carmelo Maria Luza Bautista

8. LT Group, Inc. (market cap. 109 billion)

LT Group is the conglomerate of Lucio Tan’s group of companies. It has a diversified portfolio of consumer-focused businesses in beverages, tobacco, banking, and property development.

Although Lucio Tan owns a massive stake in Philippine Airlines, PAL is not part of this holding firm.

In addition to its current success, LT Group is also actively pursuing strategic partnerships further to expand its reach and influence in the market. These collaborations are poised to enhance the company’s power and property holdings, adding value to its overall operations and development plans.

Core businesses:

  • Beverages: Asia Brewery, Tanduay Distillers
  • Banking: Philippine National Bank
  • Property Development: Eton Properties Philippines
  • Tobacco: Philip Morris Philippines Manufacturing and Fortune Tobacco
  • Investments: Parklinks, Victoria Milling Company
companies lucio tan owns


  • Chairman and CEO: Lucio C. Tan
  • President and COO: Lucio C. Tan III

9. Alliance Global Group, Inc. (market cap. 85 billion)

Alliance Global Group is one of the fastest-growing conglomerates in the Philippines. Their remarkable real estate developments have reshaped the Philippine landscape.

The company has set high standards in the industry by spearheading iconic projects like Uptown Bonifacio, Forbes Town, and McKinley Hill.

In the world of hospitality and gaming, Alliance Global shines with its world-class resorts and entertainment complexes under the Megaworld and Newport World Resorts brands, offering visitors unparalleled experiences.

Core Businesses:

  • Real Estate: Megaworld
  • Food and Beverage: McDonald’s Philippines, Emperador
  • Tourism, Entertainment and Gaming: Travellers International Hotel Group
  • Infrastructure: Infracorp Development
alliance global conglomerate map


  • Chairman: Dr. Andrew L. Tan
  • Vice Chairman and CEO: Kevin Andrew L. Tan

10. Cosco Capital, Inc. (market cap. 33 billion)

Cosco Capital has solidified its position as one of the top conglomerates in the country. It operates Puregold and S&R retail chains nationwide. It has been actively expanding its retail footprint through its subsidiaries.

The grocery giant also diversified its business in liquor distribution, commercial real estate, oil and minerals. It also ventured into specialty retailing by acquiring Office Warehouse and partnering with Siam Global House Public Company.

Core businesses:

  • Grocery Retail: Puregold, S&R Membership Shopping
  • Liquor Distribution: The Keepers Holdings (Montosco, Premier Wine and Spirits, Meritus Prime Distribution, Fertuna Distributions)
  • Commercial Real Estate: Ellimac Prime Holdings, Fertuna Holdings, Nation Realty, NE Pacific Shopping Centers, Pure Petroleum, Patagonia Holdings
  • Specialty Retail: Office Warehouse
  • Oil and Minerals: Alcorn Petroleum and Minerals
cosco capital list of businesses


  • Chairman: Lucio L. Co
  • Vice Chairman: Susan P. Co
  • President: Leonardo B. Dayao

Final Thoughts:

After exploring the top conglomerates in the Philippines, we have gained valuable insights into the key players driving the country’s economy.

Each corporation brings a unique set of strengths and contributions to the table, showcasing the diverse business landscape in the Philippines.

By understanding these conglomerates, we can make informed decisions as investors or appreciate their impact on the local and global markets.

Let’s continue to stay informed about the business world, supporting companies that align with our values and goals. Our knowledge empowers us to engage meaningfully with economic trends and make sound choices for our financial objectives.

Keep exploring, stay curious, and let’s navigate the dynamic business world together.

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About Fehl Dungo

Founder of DailyPik, entrepreneur, and tech investor. She has a Degree in Accountancy and background in Finance. She analyzes stocks everyday. Connect with Fehl on Facebook

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