PCC approves joint venture for 265-hectare projecthome/Business/Top Business/PCC approves joint venture for 265-hectare projectTHE Philippine Competition Commission (PCC) has approved the joint venture between Pasay Harbor City Corp. (Pasay Harbor City) and the city government of Pasay for the rise of a 265-hectare reclamation project. In a statement on Monday, PCC said the transaction marked the first merger review involving local government units (LGUs) as a party to the joint venture. The Pasay City LGU allotted rights to reclaim its municipal waters, while Pasay Harbor City will fully finance all raw land reclamation works and expenses. “PCC noted that the reclaimed area would create a new market for commercial and residential real estate in Pasay City,” it said. Pasay Harbor City Corp. is a partnership composed of Udenna Development Corp., Ulticon Builders Inc. and China Harbour Engineering Co. Ltd.

Source: Manila Times September 30, 2019 22:30 UTC