Property developer D.M. Wenceslao & Associates Inc. said it generated revenues of P1.2 billion following the grand launch of its second residential project, MidPark Towers.
MidPark Towers is a four 15-story residential development located within Aseana City in Parañaque City.
“The successful reception of the MidPark Towers is a demonstration of our customers’ growing confidence in our ability to deliver quality residential products,” D.M. Wenceslao chief executive Delfin Angelo Wenceslao said in a disclosure to the stock exchange.
MidPark Towers offers various sizes ranging from 36 square meter for a studio unit to 108 sq.m. for a three-bedroom unit.
It features multiple indoor and outdoor gathering spaces, immediate neighborhood amenities and locational conveniences, such as airports and lifestyle options. It also reflects a modern architecture built in minimalist leanings against a full glass façade overlooking Aseana City’s greenway—a pedestrian park and promenade that stretches from Roxas Boulevard to Manila Bay.
“MidPark homeowners want to live in a walkable and well-connected progressive community. They look for a combination of public spaces, innovative entertainment and retail concepts and an environment that is both pedestrian-friendly and transit-oriented,” Wenceslao said.
MidPark Towers is bordered by two main avenues—Aseana Avenue and Macapagal Boulevard.
The property is within walking distance from Ayala Malls Bay Area and the planned Light Rail Transit Aseana station.
It is strategically located situated within two to five kilometers from all terminals of Ninoy Aquino International Airport and the recently inaugurated Paranaque Integrated Terminal Exchange.
The property developer earlier reported that net income in the first nine months of the year amounted to P1.49 billion, down 3.4 percent from P1.44 billion year-on-year.
Revenues amounted to P1.78 billion, down 30 percent from a year ago level as the absence of land sales was partly offset by higher revenues from a new office development.