D.M. Wenceslao Group, through its residential development arm, Aseana Residential Holdings Corp. (ARHC), acquired a 1,600-square meter building in Legazpi Village, Makati City.
Legazpi Village, a walkable neighborhood in the Makati central business district, known as haven for young professionals and families with its offering of new retail concepts, restaurants, and relaxing retreats of parks and open spaces.
The company said it plans to build an upscale residential condominium in the area.
“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. 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,” said Buds Wenceslao, DMW chief executive officer.