D.M. WENCESLAO & Associates, Inc. (DMWAI) on Wednesday started construction of its mixed-use development, Parqal, within its flagship Aseana City project in Parañaque City, targeting its completion by 2021.
“We’re building office buildings, condos, retail, but this is one of the first developments, at least in this area, that’s committed to public space,” Delfin Angelo C. Wenceslao, chief executive officer of DMWAI, said during the groundbreaking ceremony for Parqal.
Parqal, whose name is a combination of “park” and “kalye,” is located on a five-hectare property occupying two blocks between Diokno Avenue and Macapagal Boulevard. It will have a gross floor area of 78,000 square meters (sq.m.) spread across nine independent four-storey buildings, which will be devoted to office and retail space.
“As you look around all the developments, not just in the Philippines, but in Asia, globally, livability is one of the major themes. We’re committed to this project not just because of the commercial value of it, but more so because of… how it promotes walkability, and connectivity in our urban developments,” Mr. Wenceslao said.
DMWAI will implement sustainable building practices at Parqal, as it aims to secure four to five star rating Building for Ecologically Responsive Design Excellence (BERDE) certification from the Philippine Green Building Council.
“What we’re building here is a mixed-use experience that will be located in the greenway of Aseana City. Originally, the concept here is it will provide green space, a lot of public space for the residents, office workers the visitors of Aseana City, but of course we want to take advantage of the area by providing retail offerings, as well as other commercial activities,” Julius M. Guevara, vice president for corporate planning of DMW, told reporters after the ceremony.
More than half or 60% of the whole area is dedicated to lush green spaces, and recreational facilities.
The open areas will have canopies made up of ethylene tetrafluoroethylene (ETFE), which would allow sunlight to still penetrate the roof but reduce heat. The company said this will still allow trees to grow even under the roof.
Mr. Guevara said Parqal is expected to attract families living in nearby areas such as Pasay, Manila and Cavite, as well as those occupying residential condominiums in Aseana City. Its proximity to the airport also makes it attractive for tourists.
“We would want to have a mix that would be attractive to those that would visit Aseana City and one thing that we would want is that we’re located in the Entertainment City… We would want to round that off by providing entertainment that would draw the family to visit the area,” he said.
“We’re very close to the airport. That would attract international travelers in the area and we want to provide a retail mix that would address their retail needs,” he added.
Parqal is just a stone’s throw away from DMWAI’s flagship Aseana City, which features projects such as Aseana One, Aseana Two, Aseana Three, and MidPark Towers.
“If you take a look at it holistically you could the entire vision for Aseana where you have a lot of high grade office spaces, premium residential condominiums, complemented by a very upscale retail and mixed-use experience on the very center,” Mr. Guevara noted.
Earlier this year, DMWAI said it is allotting P4 billion for capital expenditures after seeing a double-digit growth in 2018 due to strong demand for properties in the Bay Area. — Vincent Mariel P. Galang