THE board of directors of investment holding and management company House of Investments Inc. (HI) has recently approved the purchase of the A.T. Yuchengco Center from its affiliate bank Rizal Commercial Banking Corp. for P6.07 billion as part of its long-term plans to consolidate the property interests of the Yuchengco conglomerate.

'This is part of our strategy to realign the businesses of Yuchengo Group of Companies, and strengthen the conglomerate's position with a more holistic approach in the property development and management sector,' HI President and Chief Executive Officer Lorenzo Tan said.