MANILA, Philippines — D.M. Wenceslao & Associates Inc. (DMWAI) said its building leasing space jumped 76 percent to 160,000 square meters following the completion of its largest office development, 8912 Asean Ave.
8912 Asean Ave., situated along Asean Avenue, is a 15-story tower with a gross leasable area of 69,000 sqm.
Among its key features are 100 percent back-up power, Variable Refrigerant Flow (VRF) air-conditioning, high allowances, and redundancies of utilities per square meter, double-glazed curtain wall, and space planning flexibility, which are expected to attract a wide-array of tenants including traditional corporate office and BPO tenants, among others.
“8912 Asean Ave. forms part of the expansion plan we laid out during our IPO. We remain committed to enhancing shareholder value through delivery of value-adding developments, which drive towards the execution of our masterplan for Aseana City,” said DMWAI chief executive officer Delfin Angelo ‘Buds’ Wenceslao,
He said the completion of the tower, which is the company’s largest office development to date, is another milestone and is a testament to the DMWAI’s execution capacity.
“We are excited to reach this stage where we now extract value from our recurring income developments,” he said.
In addition to 8912 Asean Ave., the company still has two commercial buildings scheduled for completion, which will add another 72,000 sqm GLA to DMWAI’s building leasing space.
DMWAI is a property developer with expertise in land reclamation, construction, and real estate development. It is the master developer and primary owner of Aseana City, a development project with a total land area of 107.5 hectares located along the coastal waters of Manila Bay.
Since 1965, DMWAI has reclaimed more than 2.4 million square meters of land, leased or developed 250,000 square meters of land and buildings, and completed over 140 construction and infrastructure projects including large, complex government developments throughout the Philippines.