IRC Properties, Inc. Announces Election of Directors

Philippine Infradev Holdings Inc. is a Philippines-based company. The Company is primarily engaged in the acquisition, reclamation, development, or exploitation of land for the purpose of converting and developing said lands into integrated residential or commercial neighborhoods, and generally to engage in the real estate business in all its forms. The Company has two segments: real estate, which focuses on the development and sale of real properties; and the subway, which focuses on the Subway System Project. The Company’s subsidiary, Interport Development Corporation (IDC), is primarily involved in the acquisition and selling of real estate of all kinds or to hold such properties for investment purposes. It is in the process of clearing and re-titling the large portion of the property in Binangonan for future developments. Its other subsidiaries include Makati City Subway, Inc. (MCSI) and Jiangsu Rizal Infradev Co., Ltd. (JRIC).