What's Happening?
Duros Group, originally a small agricultural feed retail business founded in 1987 by Lito and Fe Barino, has grown into a diversified enterprise with investments in real estate, construction, food, and education.
The company, under the parent firm San-Vic Holdings Inc., has expanded its operations significantly, including major infrastructure projects like the Mandaue Reclamation Project and the Mactan Cebu International Airport runway. The group also ventured into real estate with projects such as Liloan Golf and Leisure Estate and Duros Land Properties. The Barinos attribute their success to strategic expansions and seizing opportunities, such as becoming subcontractors for international construction projects.
Why It's Important?
The growth of Duros Group from a small business to a major player in multiple industries highlights the potential for entrepreneurial success in the Philippines. This expansion not only contributes to local economic development but also sets a precedent for other small businesses aiming to diversify and scale. The company's focus on infrastructure and real estate development aligns with broader economic goals in the region, potentially attracting more investments and boosting local employment. Their story underscores the importance of adaptability and strategic partnerships in business growth.
What's Next?
Duros Group plans to continue its expansion by developing a township in Liloan, integrating their various projects such as hotels, schools, and housing. They also aim to develop resort properties in southern Cebu and other areas. The company is preparing for future leadership transitions by training family members to take on roles within the business, ensuring sustainability and continuity. This forward-thinking approach may serve as a model for other family-run enterprises looking to secure their legacy.
