Vol. XXI, No. 163-A [ Business World Online ]
Thursday, March 20, 2008 | MANILA, PHILIPPINES
The Securities and Exchange Commission has approved the 25-year extension of the corporate life of Republic Real Estate Corp., documents from the corporate watchdog show. Republic Real Estate is engaged in the reclamation of land, disposal of lands and other real properties, and improvement and construction of houses and buildings, aside from managing subdivision and/or housing projects. In 2000, the Supreme Court ordered the real estate company to turn over to the government the entire 77-hectare Cultural Center of the Philippines complex. Ending a dispute, the tribunal ordered the government to pay nearly P100 million to the developer as reclamation fee.
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