David Leechiu’s roller coaster life
AVID LEECHIU’S life may probably have more twists and turns than your regular roller coaster.
DHis childhood, by his own account, was a happy and harsh one—marked by misfortunes, little successes, lucky encounters, second chances and a turning point.
But it was precisely these series of events—fortunate and otherwise—that allowed the 39-year-old Leechiu to soar at great heights, now being the country head (Philippines) of Jones Lang Lasalle Leechiu, the largest real estate advisory and consulting firm in the country.
In a recent interview with SundayBiz, Leechiu admits that early on his life, he already saw how reality bites—how at one minute, you may have all the best things in life, but then lose even much more with a blink of eye.
He recalls how his family had to struggle when their appliance store at Farmers Plaza in Cubao burned down and they had to find a way to pay for all the goods they were selling under consignment.
“During that time, I don’t think there was insurance for things like that. So significantly, we were very much in debt because we had goods under consignment that were burned down and we ended up having to pay for it,” he explains.
“Wewent from having three cars and TVS and all that to having zero. We literally have two days worth of savings. This taught me how to start from scratch,” Leechiu adds.
He then saw how his parents work as long as 18 hours every single day to go from having one or two days worth of savings to three to four months.
But even during that time, Leechiu admits that he was the least academic among siblings—he even had to transfer schools to finish his fourth year high school.
It was only during his college years at the University of Asia and the Pacific that he had his “turning point,” which he believed had forever changed the course of his life.
“Because we didn’t have radio and TV when the business fell, we were forced to spend so much time reading. So even though I was very distracted academically, I spent a lot of time reading and that prepared me for college, during which I realized that I have to fix my life in this next four years,” Leechiu relates.
He realized then that as it is, he was already lucky enough to be able to go to a “very good school” and that he shouldn’t waste this opportunity. He realized that he “can’t keep messing up because I saw how hard my my mom and dad work for it.”
When he finally graduated in 1994, Leechiu related that he was asked by a “mini taipan” to work for him in his paint company, where he stayed for only a year. The man, according to Leechiu, was looking for young people who can help him grow his businesses.
“I felt lucky already that I was earning P5,000, unlike my other friend who was earning P3,500. But my friends from Piltel, which back then was the company to work for, were earning P25,000. At that time, my girlfriend had wanted to get married, but she was earning P30,000 a month and had a car while I was still taking jeeps, buses and tricycles,” he explains.
Leechiu then had to make a painful decision to break up with his girlfriend—whom he eventually married—because he wanted to fix his finances. He also quit his job and went to trading tissue paper and just about anything he could sell. This went on for three months until Leechiu found another job as an analyst/agent under the company of Ramon Cuervo III.
After working for Cuervo, Leechiu was then hired by Lindsay Orr to work for First Pacific Davies (FPD) Savills, then a member of the First Pacific Group.
Unfortunately, the economic and political turmoil in early 2000s had prompted the company to finally shut down the business in 2003.
“It became really bad so Savills said, ‘you
know what this market is too hired Leechiu for Savills in high risk for us, the numbers are 1998—to do that organically by so small.’ They told me to take it hiring as many people as he instead. Since they’re shutting wanted or buy a business in a down, they offered me to buy similar field. the business for a very low And that’s when Orr contactprice,” he says. ed Leechiu. After
‘I asked from Leechiu, his famuch negotiations, ther-in-law who was the contract be
Jones Lang if a broker, and a coltween Jones Lang league at Savills, Lasalle and Leechiu
I can have Angela Padilla Associates was (along with her huseventually signed in
the brand band) had put their March 2008. money together to “One of the last
and our take on the compathings that I asked ny that Savills had from Jones Lang
name left to put up was if I can have the Leechiu Associates. brand and our name
attached’ Leechiu says he had attached—jones put in 90 percent of Lang Lasalle what he had saved in 10 Leechiu. I’m surprised that they years—which even then was said yes. I really did it because not much—to fund the compamy mom kind of wished for it. ny. It’s like a legacy for my parents
One of the biggest chalto see my name. My mom and lenges, however, was their commy dad are so happy every time petition who were trying to they would see my name and bring them down. they point it out to relatives. It’s
“The competition called evvery, very heartwarming,” he ery single person in our office relates. and said ‘ you guys are closing “Right now, the Philippine down and we are going to shut unit is the only company under you down because now we’ve the whole Jones Lang Lasalle heard you’re coming up with organization that is branded your little company called differently. It’s also probably my Leechui and Associates.’ They way to put the Philippines on also told all our clients that we the map because my personal won’t be able to service them goal is to really change the way anymore,” he recalls. foreigners view the Philip
“Again, remember, we were pines,” he adds. the only company in this indusCurrently, Leechiu is bent on try that was run by a local. Evmaking Jones Lang Lasalle eryone else from top manageLeechiu a meaningful part of ment to mid management were the parent firm’s network as he all expats. So we really had to continues to be a champion for work long hours to compensate the Philippines. for that and I’m thankful that In this way, he hopes the we never lost any of our country will be able to attract clients,” he says. more foreign capital.
“There were a few clients At the end of the day, howevwho really stuck it out with er, Leechiu admits that what he us—bong Borja of Aegis People looks forward to is being able to Support, Fitness First and make up for the lost time with Citibank gave us so much credihis family after he has sucessfulbility, because despite us being ly ensured the financial aspect a local company they still used of his life. us. Those three clients were “I’ve prioritized my profesvery instrumental in giving us a sional life to secure my financial lot of support and credibility base. This year, I’m working on through the crisis and through the biggest deal of my life and the early days of Leechui and hopefully when that happens, it Associates,” he further exwill allow me to give more balplains. ance to myself. Instead of work
Meanwhile, in 2007, Jones ing 15 hours a day, I can do it in Lang Lasalle was looking to exeight. By then, I can spend time pand its existing business in the with my kids, bring them to Philippines. At that time, the school, have dinner with them, company had instructed Lindand spend more time with my say Orr—the very person who wife,” he concludes.