MANILA - DM Wenceslao Group said Wednesday its residential development arm acquired a building in Makati City for its planned residential condominium in the area.
Aseana Residential Holdings Corp acquired a 1,600 square meter buidling in Legazpi Village, Makati City, the company said in a statement.
Legazpi Village is located near the Makati central business district.
“This has been a challenging year for the real estate sector with the impact of the pandemic. However, we remain optimistic in the market fundamentals and the prime location of the neighborhood," said DM Wenceslao CEO Buds Wenceslao.
"We believe that this property allows the company to expand and diversify our investment portfolio and development pipeline. While Aseana City remains our flagship project, we will continue to seek opportunities in prime locations even in this current environment," he added.
DM Wenceslao specializes in real estate development and land reclamation. Its flagship project is the Aseana City, a 107.5 hectare development located along the coastal waters of Manila Bay.