PCC approves joint venture between Robinsons Land, Shang Properties

March 21, 2018

The Philippine Competition Commission (PCC) has approved the joint venture between Robinsons Land Corporation (RLC) and Shang Properties, Inc. (SPI) to develop a property in Bonifacio Global City, Taguig City.

In the Commission decision signed on March 20, the Mergers and Acquisitions Office (MAO) of the PCC found that the transaction does not result in substantial lessening of competition.

“There are enough existing competitive constraints on the parties after the transaction,” the decision explained.

“There is no increased ability nor incentive to engage in input foreclosure or customer foreclosure post-transaction,” it added.

Robinsons Land and Shang Properties are set to develop a 9,118 square meter property of RLC at McKinley Parkway corner 5th Avenue Bonifacio Global City.

Two luxury  residential condominiums will be built and a portion could be converted into serviced apartments and commercial spaces. DMS