The Yuchengco Family’s Sangley Point International Airport (SPIA) project received clearance from the Philippine Competition Committee (PCC) [link] upon a finding that the SPIA project is “unlikely to result in a substantial lessening, restriction, or prevention of competition in the relevant market.” The SPIA project is a public-private partnership joint venture development between the Metro Pacific Investments-led Cavitex Holdings and the Yuchengco Family’s House of Investments [HI 3.65, up 3.1%; 2% avgVol]. The SPIA was awarded to Cavitex and HI two years ago. The first phase is expected to be complete in 2028 when the first of its four planned runways will be operational. The entire project is estimated to cost approximately $11 billion (~P634 billion).