PLDT sells Smart HQ building


    PLDT Inc. is selling its Smart Towers building in Makati to the DMCI Group.

    The Philippine Competition Commission (PCC) said it has approved the acquisition by DMCI-unit DMC Urban Property Developers Inc. (DMC-UPDI) of PLDT Smart Towers Makati.

    The competition regulator said the DMC-UPDI acquiring the property — two parcels of land with aggregate area of approximately 2,400 square meters together with improvements consisting of two buildings (Smart Tower I and II), on Ayala avenue, Makati City — will “unlikely to lead to substantial lessening of competition in the market of office leasing space in the central business districts of Makati and Bonifacio Global City.” — Ruelle Castro