Vol. XXII, No. 57 [ BusinessWorld Online ]
Tuesday, October 14, 2008 | MANILA, PHILIPPINES
Listed MRC Allied Industries, Inc. will buy a shopping center on a six thousand-square meter land in Divisoria, Manila, the company told the stock exchange yesterday.
In a disclosure, MRC said it would acquire shopping mall Benisons Shopping Center, which is situated on the land.
It said it would perform due diligence and valuation of the property.
Company officials declined to provide details, saying the acquisition was still in the negotiation stage.
MRC Allied is a property company that has found its niche in the development of master planned, integrated residential, commercial, recreational, tourism and industrial areas within a single community or township.
MRC is concentrating on its two eco-friendly projects — the New Cebu Township One in Cebu and the Amihan Woodlands Township in Northern Leyte. Company shares were unchanged yesterday at P15 centavos apiece. — Kristine Jane R. Liu
