PROPERTY developer Philippine Realty and Holdings Corp. (PhilRealty) said it has exited from its decade-long corporate rehabilitation as the company launched a P10-billion project in Quezon City targeting the high-end market.

Company President Amador Bacani said the Regional Trial Court in Quezon City, approved the exit process on Monday, more than a decade after it entered rehabilitation in late 2002 when it was unable to service debts that ballooned to P3 billion, including interests.