EM Cuerpo Incorporated has selected China-based Poly Changda Overseas Engineering Company as a subcontractor of the proposed 174-hectare Smart City project in Dumaguete, Philippines. The revenues from the sale of EM Cuerpo’s share of the reclaimed land will be used to compensate Poly Changda.
According to a joint venture agreement (JVA), Dumaguete and the Philippine Reclamation Authority (PRA) will own 51 per cent of the reclaimed island, while the developer will own 49 per cent.