The company was started by Mr. Joseph Wang, a textile factory employee then. With just PhP2,000.00, he started as a contractor, building houses for a real estate developer. As more projects came in, he had to expand his business and to do so he had to sell his car. From the proceeds of sale of the Buick he inherited from his father, he founded Ultima Development Corporation in 1976.

Ultima Development Corporation’s projects were South Green Park Subdivision, a 15-hectare development beside Merville Village in Paranaque that features single detached and single attached homes, and South Green Park, an 8-hectare subdivision in Tandang Sora, Quezon City.

A paradigm shift was drawn from its engagements in building homes for the people and “pang-masa ito!” became the battle cry. Thus, Ultima Development Corporation was renamed Masaito Development Corporation (MDC) in 1986. Its early projects included Concorde Subdivision, a 12-hectare development along MIA Road in Paranaque and Regency Homes, a 4-hectare project along Quirino Highway in Parañaque.

The Citihomes Series was one of MDC’s successful projects as a pocket developer. Developing just small areas at a time, the company was able to create 4 Citihomes communities. The first one is located on a 4-hectare land in Pulang Lupa, Las Pinas, the second development is also a 4-hectare project situated Brgy. Pag-asa, Quezon City, and the third Citihomes project is another 4-hectare development in Tandang Sora. The fourth and largest of the series is in Molino, Cavite which was launched in 1995. Spanning 43 hectares, the development offered 3,500 dwelling units composed of single attached houses, single detached units, and town homes.

In 1996, Masaito Development Corporation transferred to its new office located at the 11th Floor of Philippine AXA Life Centre in Sen. Gil Puyat Ave., Makati City. The company also expanded its portfolio by offering homes in various locations that cater to different clients from different socio-economic backgrounds. From reasonably-priced homes in the Metro to more upscale developments in strategic locations in the suburbs of the Greater Manila Area.

To bring added convenience to its homeowners, Masaito Development Corporation also engages in joint ventures through its subsidiary, Richfield Properties, Inc. (RPI) Aside from its commercial operations, RPI has also started developing residential projects.

Masaito Homes is born from the synergy of Masaito Development Corporation and Richfield Properties, Inc. to deliver a well-rounded combination of quality homes in strategic locations equipped with a sustainable support system that provides for the lifestyle needs of the modern Filipino.

Today, Masaito Homes is driven by its Passion for Building Better Homes.