BusinessWorld December 11, 2020 | 7:49 pm PLDT, Inc. has concluded the sale of the 37-storey Smart Tower in Makati City for $128 million to real estate development company DMC Urban Property Developers, Inc, according to commercial real estate services firm JLL in a statement Friday In an e-mail, JLL, a unit of US-listed Jones Lang La Salle Inc., said its client, PLDT, will continue to occupy the building, which houses the headquarters of its wireless arm, Smart Communications, Inc., “for the next five years via an accompanying leaseback agreement.” “The sale price represents the largest commercial real estate transaction completed in the Philippines in 2020,” it added.