By Aubrey Rose A. Inosante, Reporter
D.M. WENCESLAO and Associates, Inc. (DMW) said it had invested P4 billion in Parqal, its latest mixed-use development located in Parañaque City’s Aseana City.
The project focuses on creating a “third space” designed to enhance work-life balance for individuals working in Aseana City. Third spaces are environments intended for social interaction and public relaxation, distinct from home and office settings.
Parqal spans five hectares and has a gross floor area of 70,000 square meters (sq.m.). It has reached a 90% occupancy rate for retail spaces and 40% for commercial spaces, DMW Chief Executive Officer Delfin Angelo C. Wenceslao told BusinessWorld via an e-mailed statement on Aug. 16.
“Parqal created an ecosystem where office workers can access not just retail and commercial services but amenities that support the community and contribute to enhancing social connections through its world-class public spaces,” Mr. Wenceslao said.
The property has nine four-story buildings with retail and commercial spaces occupying the first and second floors, and offices located on the third and fourth floors.
“With the increasing demand for office spaces in Metro Manila, Parqal aims to offer not just a place to work but a chance to feel at home away from home,” Mr. Wenceslao said.
He said Parqal is changing the work experience of the office population by providing access to public spaces and amenities that promote relaxation and social connections.
Office workers have proximity to wellness facilities, sports amenities, and outdoor spaces and plazas such as the courtyard and amphitheater.
The firm also said the “floating canopy,” which serves as a flagship component of Aseana City’s sidewalk master plan, covers about 5,000 sq.m. of the development’s linear greenway spine.
“The company is currently in the late planning stages of additional office, residential, hospitality, and medical clinic/office projects for its five-year development pipeline,” Mr. Wenceslao said.
He added that Parqal’s foot traffic is increasing, with daily visitors rising from 10,000 to 20,000 weekly. Footfall even doubles during events, showcasing the destination’s growing popularity.
Since opening in September 2023, Parqal has hosted the Big Bad Wolf Booksale, Toycon Launch, Nikon Day 2024, and the Aurora MLBB event.
It has also hosted the weekly community run of Aseana City, or Run Aseana, in partnership with the Recreational Outdoor Exchange and Run With Pat.
Mr. Wenceslao said Parqal highlights the company’s vision of a “15-minute city,” aiming to provide essential uses, amenities, services, and experiences to all Aseana City residents within a 15-minute distance.
Parqal also aims to curb carbon emissions by reducing car usage through pedestrian and cycling infrastructure.
“While DMW has the option to expand its land bank on its frontage, the company is currently focused on developing its existing portfolio. Approximately 50% of Aseana City is currently occupied with existing developments,” DMW said.
