DM Wenceslao gets PEZA approval

MANILA, Philippines — D.M. Wenceslao & Associates Inc. (DMW) has received Malacañang’s nod for its third commercial office building in Aseana City to become a special economic zone.

DMW’s Aseana Three was  declared a a special economic zone for information technology (IT) upon the recommendation of the Philippine Economic Zone Authority (PEZA).

Delfin Angelo Wenceslao, DMW chief executive officer, said the development is an ideal hub for offices.

“Aseana Three benefits from its proximity to major transportation links, tourism, and recreational and retail concepts in the Manila Bay,” Wenceslao said.

He said that with demand on the rise, the company is complementing the speed of development with office construction in the area.

“The PEZA accreditation is consistent with our strategy to provide value to our tenants through fiscal and non-fiscal incentives,” he added.

With the PEZA accreditation, DMW can accommodate a wider group of tenants and has the flexibility to meet the needs of the growing business community.

Aseana Three is 15-story building with a total leasable floor area of 30,914 square meters and which is already fully leased out as of the end of 2017.

It offers a large floor plate of 2,500 sqm and a high efficiency ratio of 90 percent based on the ratio of usable floor area to the gross floor area.

Aseana Three is strategically located at the corner of Pres. D. Macapagal Boulevard and Asean Avenue, Aseana City right across Ayala Malls Bay Area.

Aside from Aseana Three, DMW has several other office developments in the 107-hectare Aseana City.

As of June 30, the company’s total leasable gross floor area increased 52 percent year-on-year to 89,914 sqm while leased land area increased three percent to 155,418 sqm. Occupancy rate stood at 94 percent.