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About Us
IRC Properties Inc. (IRC) is a real estate company with vast inventory of land in the Province of Rizal, Philippines. The company was established in February 28, 1978 with an authorised capitalisation of P1.0B and is listed in the Philippine Stock Exchange.
In 2011, the Company shares were declassified and par value was denominated at P1.00/share. Today, the total shares of the company is 1,500,000,000. In its recent stockholders’ meeting Authorized capitalization of IRC has been increased up to P19.5 Billion and presently, with 1,499,888,964 shares are fully subscribed and issued.
The Company was principally engaged in mining explorations, thus the purchase of an 800-hectare island property in Busuanga, Northern Palawan called Apo Island. Along the way, it also set its eyes on a vast contiguous property in Binangonan, Province of Rizal totaling almost 2,200 hectares.
Mining research commenced in Palawan; but due to complicated exploration activities and the lack in funds, the company did not pursue exploration.
With the entry of a new management in 2008, the company decided to forego mining for its principal activity and instead focused on real estate development – resulting to a change of company name to IRC Properties Inc.(IRC). The island property was sold, the proceeds of which was used to clear its properties for development. The company has fourteen (14) mother titles with a total land area of 21,587,133 sqm (2,158.7 hectares) in Municipality of Binangonan, Province of Rizal. The area is located east of Metro Manila and deemed the new growth corridor outside the National Capital Region. The east boasts of toll free roads, with cooler climate in most areas of high elevation.
Land “clearing “ has resulted into 220 individual titles segregated from the mother titles, with an area of 1,812,882 sqm. The company also owns a 1.3 hectare property in the Eastridge Golf Village which it intends to develop into a condominium residential/commercial project.
Mission
Institute quality standards in building residential and commercial projects to provide better homes and lifestyle.
Respond to the need for environmental preservation and care for the future
Create career growth and social upliftment for its people thereby achieving sustainable growth for the company and its shareholders.
Vision
IRC Properties Inc. endeavors to be a preferred real estate developer committed to its buyers and the community it serves.
Our Business
In 2012, the company initially embarked on a 30-hectare residential project bringing to the community affordable housing, and uplifting social standards in the municipal barangays it served. The housing projects cater to the economic class who avails of home loans through the Home Development Mutual Fund (Pag-IBIG) lending scheme.
This venture brought about the surge of the share of IRC in the public market to a high of P1.70/share in the following years.
The first completed subdivision, Sunshine Fiesta Subdivision is a 7.6 hectare residential project offering townhouses in cluster development. Average lot unit size is at 46 sqm with a two-storey floor area of 42 sqm. Initial house-and-lot price was P575,000/unit. As selling progressed, price increases were introduced bringing up the unit price to P650,000, after which, duplex units priced even higher were introduced.
The second subdivision, Fiesta Casitas Subdivision was started midway into the completion of Sunshine Fiesta. Following the same design, it offered a higher price structure of P750,000 with subsequent price increases and now selling at P900,000/unit.
While the above two subdivisions have joint venture partners, the third residential subdivision, Casas Aurora Subdivision is a sole project of the company with funding from a Japanese firm, TamuraKenzai. Price structure was again increased and still accepted by the market. Present townhouse price averages P1,400,000/unit with end and corner units selling higher.
A fourth subdivision, named Casas Bauhinia, has been deferred for a redesign and replacing to cater to middle end market.
In its place, a fifth subdivision project is being planned and to be called Casas Carlina. A 9.6 hectare-project, it will offer 836 townhouses and single-attached units.