Robinsons-Shangrila JV gets anti-trust watchdog’s nod
The Philippine Competition Commission has cleared the joint venture between taipan John Gokongwei’s Robinsons Land Corp. and Shang Properties Inc. that involves the development of an upscale residential project in the booming Bonifacio Global City.
PCC said it approved the project as it would not result in a substantial lessening of the competition in relevant markets.
The two companies will build convert a 9,118-square meter property located at McKinley Parkway corner 5th Avenue in BGC, into a high-end residential enclave. The project will be a 50-50 joint venture.
Two luxury residential condominiums and serviced apartments will rise.