Cityland Development Corp. (CDC) said Tuesday that its board has approved a proposed merger with its subsidiary, City & Land Developers Inc. (LAND), with CDC as the surviving entity, subject to shareholder and regulatory approvals.
The plan was approved during the board’s meeting on Tuesday, August 26, as part of an internal restructuring designed to streamline corporate structure, enhance operational efficiency, and eliminate redundancies, while ultimately improving shareholder value.
The merger will proceed under the Revised Corporation Code of the Philippines and will require clearance from both companies’ stockholders and relevant regulatory bodies, including the Securities and Exchange Commission (SEC).
Once completed, the merger will create a company with a market capitalization of P3.8 billion, strengthening CDC’s position in the Philippine real estate sector. Both companies are listed developers known for residential and mixed-use projects in Metro Manila and key urban centers.
CDC said the consolidation will better align business operations, reduce administrative costs, and support long-term growth, especially in an increasingly competitive property market.
Shareholder meetings to approve the merger are expected in the coming months, with regulatory filings to follow shortly thereafter.
