EDSA Properties, Kuok Phils. complete merger

The consolidation of Edsa Properties Philippines, Inc. (EPHI) and Kuok Philippine Properties, Inc. (KPPI) into Shang Properties, Inc. is now complete, Shang Properties’ President Andy Bautista announced recently.

Shang Properties utilizes EPHI’s proven track-record of developing the country’s most prestigious real-estate projects, as well as KPPI’s land bank and experience in property acquisition and investment. With the added value and competitive advantages provided by its affiliates, and its vast, ever-growing network of property, logistics and infrastructure assets, the company is poised to set the pace for premium real estate development in the Philippines.

“Shang Properties has an exciting future driven by opportunities the merger will bring. It is an entity with regional links to Kerry Properties Ltd. And Shangri-La Hotels and Resorts, strong sponsors, and committed management. It has a strategic vision to become a leading entity in the real estate sector. This company will be shareholder-focused and committed to driving performance with high levels of corporate governance and citizenship in the Philippines” Bautista adds.

Bautista said the merger is a strategic move aimed at focusing investor interest on only one listed company.

Shang Properties’ current project is the P5.3 billion St. Francis Shangri-La Place in Ortigas Center, whose 60-storey twin towers may be the highest residential building in the city. Scheduled for turn-over in 2009, the St. Francis Shangri-La Place offers spectacular panoramic views of the city, premium amenities such as deluxe banquet rooms, spas, swimming pools and a sports lounge.

The Enterprise Center, Shangri-La Plaza Mall, and The Shang Grand Tower were also developed and are being managed by Shang Properties.