MANILA, Philippines — The Philippine Competition Commission (PCC) has approved the joint venture between Robinsons Land Corp. (RLC) and Shang Properties Inc. (SPI) for a real estate development in Bonifacio Global City (BGC) in Taguig City. “There are enough existing competitive constraints on the parties after the transaction,” the PCC said. RLC is the real estate investment arm of JG Summit Holdings Inc. Meanwhile, SPI, a listed real estate property development company, is engaged in hotels, lease of commercial and office spaces, development and sale of luxury residential condominiums, and property management. RLC and SPI will each own 50 percent of the outstanding stock of the joint venture company.

Source: Philippine Star March 21, 2018 15:56 UTC