Pinagkaisa Realty Corporation (PRC) was organized in 1977 under the Corporation Law of the Philippines and registered with the Securities and Exchange Commission on March 13, 1978 under Registry Number 78665.
The Company was organized 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, the National Development Company (NDC) acquired through absolute purchase 60% undivided interest in the four parcels of land owned by the Philippine Electric Manufacturing Company (PEMCO), [now GE Lighting Philippines, Inc. (GELP)]. On September 30, 1977, a Deed of Assignment and Transfer was executed wherein NDC and PEMCO conveyed their respective 60% and 40% undivided interest in exchange for fully paid shares of stock of PRC.
The property is currently under lease to GE Lighting Philippines, Inc.