D.M. Wenceslao & Associates, Inc. (DMWAI) on Thursday said its subsidiary has received from the government a license to sell units at its new residential project in Aseana City.
In a disclosure to the stock exchange, property developer said the Housing and Land Use Regulatory Board (HLURB) issued the license allowing Aseana Residential Holdings Corp. to sell MidPark Towers.
“We are excited for this project to move forward full speed into the next stage of the development process,” Delfin Angelo C. Wenceslao, chief executive officer of DMWAI, was quoted as saying.
MidPark Towers is a four-tower residential project within DMWAI’s flagship project Aseana City, located in the Manila Bay area. It will have a total saleable floor area of 42,000 square meters (sq.m.) and a leasable floor area of 2,000 sq.m.
“MidPark Towers creates long-term opportunities for DMW to showcase its residential offerings to the emerging vibrant commercial district in the Manila Bay area. The existing residential stock in the area is limited to the current mass of smaller studios and compact one-bedroom options. To widen such housing choices, we designed MidPark Towers with balanced unit mix and sizes. We focused on larger format units to serve a market that is deeply underserved,” Mr. Wenceslao added.
MidPark Towers is DMWAI’s second residential project in Aseana City after Pixel Residences.
The property developer earlier this year said it is spending P12 billion to develop the mixed-use business district Aseana City in the next five years. — VMPG