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Robinsons Land, DMCI joint venture scores SEC approval


The Securities and Exchange Commission (SEC) has approved the incorporation of the joint venture company of Robinsons Land Corp. (RLC) and DMCI Project Developers Inc. (DMCI PDI) to develop residential properties in Las Piñas City.

Named RLC DMCI Property Ventures Inc., the joint venture company will purchase, lease, and develop real estate properties in Las Piñas City, with the initial project intended to ba e multi-tower residential condominium which may increase commercial spaces.

According to its regulatory filing, RLC said it has agreed to put up an initial capitalization of P500 million for the joint venture, with DMCI PD to put up the same amount.

"The joint venture between RLC and DMCI PDI will combine the experience and expertise of two of the leading real estate developers in the country," the company said.

"Furthermore, the combination of the vision of RLC and RMCI PDI's construction expertise is expected to result into a well-planned residential development," it added. — Jon Viktor D. Cabuenas/BM, GMA News

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