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Building a family business

Article - November 29, 2013
While the development and construction industries continue to grow steadily throughout Peru, the father and son team of Manuel Montori Alfaro and Manuel Montori Burbank ensure Grupo Montori and Altozano remain one of the key players in the Peruvian real estate and infrastructure game
THE PROVISION OF SOCIAL HOUSING IS A VITAL PART OF THE EFFORT TO RAISE LIVING STANDARDS IN PERU
Altozano is a Peruvian company dedicated to the building, management and promotion of low income housing projects throughout the 25 regions of Peru. Thanks to years of experience and a diverse and talented team of workers, they have been able to apply both their creativity and up-to-the-minute technology to the planning, execution and inspection of each project. This results in works of excellent quality and a high level of customer satisfaction. At Altozano the customer is the center of every project and in order to achieve total customer satisfaction the team are continually aiming to improve every aspect of their operation from planning to completion.
 
Created in 1999 and based in Lima, Altozano’s early years consisted of developing various real estate projects in and around the capital city of Peru. By 2008 the company had grown substantially and their focus had shifted to social housing projects. Several of these projects were based in Arequipa, Peru’s second largest city, and resulted in the building of over 3,000 new homes. 
 
AGGRESSIVE GROWTH
 
In 2010 Altozano grew to incorporate Grupo Montori among its shareholders in order to further expand its potential and reach new levels of quality.

The following year Grupo Montori became the majority shareholders of the company which led to corporate restructuring resulting in significant efficiencies and a plan to double production capacity to 1,600 homes per year by 2014 in various cities across the country. With over 10 years of experience in developing and building multiple projects, a strong management team and an accomplished leadership, the new combination of Altozano and Grupo Montori set put forth an aggressive growth plan of development and construction of modern housing in the provinces of Peru.
 
Heading up Grupo Montori and the new corporate restructuring of Altozano is the father and son team of Manuel Montori Alfaro and Manuel Montori Burbank, two businessmen with the combined experience and knowledge to see Altozano’s continued contribution to the growing Peruvian economy. 
 
“As Peruvians we are very much used to obstacles. Due to this, and although it is not easy, we have learned to overcome impediments and because of the discipline we have acquired through this, our country is developing in every sector and delivering visible results,” Manuel Montori Alfaro recently commented, before going on to explain how Altozano’s vision for the future is in line with the Peruvian government’s vision, stating “this growth that we have been accomplishing requires investment in order to update the infrastructure matrix – such as ports, highways, energy and water. 

“As Peruvians we are very much used to obstacles... we have learned to overcome impediments and because of the discipline we have acquired through this, our country is developing in every sector and delivering visible results”

Manuel Montori Alfaro,
Chairman of Altozano
“The good news is that the Government is focusing on those main variables. Either through private or public money or through public-private alliances we all are moving in the same direction. It is an ambitious plan and this is what the country needs. The diagnosis has been done and we are sure that this path is the correct one.”
 
Both Manuel Montori Alfaro and Manuel Montori Burbank had contributed enormously to the improved infrastructure of the country before taking over Altozano and their family is responsible for the increased importance of the mining sector to the Peruvian economy. 
 
They are currently focused on growth in the provinces where they have recently developed various hydroelectric power plants and strip malls and are building a land reserve for further expansion. 
 
Manuel Montori Alfaro explains how some businessmen changed the infrastructure in Peru: “My father and four friends founded the mining company MILPO with their family savings. They started a company that is now one of the most important mining companies in Peru, not only because of its favorable financial and economic results, but also because they were pioneers in the social aspect of mining.

The action that was undertaken with the workers and their families at MILPO was truly exemplary. All this has helped the country to continue growing in different sectors, due to the fact that mining has the ability to drag many other industries while also attracting attention towards areas that are away from the capital.”
 
MORE THAN A BUSINESS
 
The motivation and drive behind these two professionals is not only business success but the improvement of Peru as a whole. Manuel Montori Burbank, a Harvard MBA and CEO of Altozano, explains how social housing became more than just a business plan for himself and his father: “For two reasons. Firstly because we consider that it is a prosperous business area that requires significant experience and capital, and secondly because it is indeed a national need. 
 
“You could not imagine how amazing it is when a family from the C or D population sector, our clients, enter their new home. In that precise moment, those fellow citizens significantly improve their living conditions and economic outlook. From that moment on, they are in a better position to build net worth through ownership of quality real estate, see their kids grow up safer, go to better schools, universities, get a good job – all these are things that could have been significantly harder in their previous neighborhoods.”

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