The Philippine Competition Commission (PCC) has approved on March 20 the joint venture between Robinsons Land Corp. (RLC) and Shang Properties, Inc. (SPI) to develop a property in Bonifacio Global City (BGC).
The joint venture will develop a 9,118-square meter property of Robinsons at McKinley Parkway corner 5th Avenue, Bonifacio Global City, Taguig. PCC noted the deal would not substantially lessen competition in the market.
According to PCC, the development will feature two luxury residential condominiums, with the potential of converting a portion of the development into serviced apartments and commercial spaces.
RLC is the real estate investment arm of JG Summit Holdings, Inc. while SPI, through its subsidiaries, is engaged in hotels, lease of commercial and office spaces, development and sale of luxury residential condominiums and property management.
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