GY Real Estate, Inc. (GYREI) was organized in 1973 under the Corporation Law of the Philippines and registered with the Securities and Exchange Commission on February 1, 1974 under Registry Number 54511.
The Company was created to acquire, buy, sell, exchange, manage, improve, lease or otherwise deal in real property.
With the termination of the American Parity Agreement on July 3, 1974, Goodyear Phils, Inc. (GPI) (formerly Goodyear Tire and Rubber Company of the Philippines, Ltd.) donated 60% of its undivided interest, right and title to its two (2) parcels of land to the National Development Company (NDC) on May 26, 1975. On the same day, NDC and GPI entered into a Deed of Transfer and Conveyance and conveyed these two(2) parcels of land to GYREI for a 60% and 40% undivided interest, respectively, in exchange for fully paid shares of stock of the Company.
The property was leased by GPI until April 15, 2011, when GPI decided not to renew its occupancy of the property.
The Company has an existing Contract of Lease with HH Asia Tyre Corporation (HH ATC) for the period April 16, 2011 to November 30, 2013.