Chinese property developer enters Philippine market

Hundred Lake Development, a Filipino-Chinese firm, sealed a deal to buy portions of property from local real-estate developer IRC Properties in Rizal province near east Manila, to become an active player in the booming Philippine real-estate market.

“This transaction is our initial step in the Philippines, which is now gaining more attention as an attractive investment area,” said Jane Yan, Executive Vice Chairman of Lek Yuen Group. Lek Yuen is the Chinese partner of Hundred Lake and claims to be among Top 5 in Nanjing, China.

Yan pointed out that the IRC area in particular “is notable to our group due to its size and greenfield nature, making it suitable for scalable property development.”

IRC primarily engages in the acquisition, reclamation, development and/or exploration of land, forests, minerals, oil, gas and other resources. It pursued oil exploration activities before focusing on property development in 1978.