Property developer Aseana Residential Holdings, Corp. is looking to generate P1.5 billion from sales of its first residential project, a company official said.
In an interview last week, Delfin Angelo Wenceslao, managing director of D.M. Wenceslao & Associates, Inc., the parent firm of Aseana Residential, said the company has began pre-selling units for its maiden residential project, the Pixel Residences.
“Obviously, we’re a new player in the market, so we’re basically taking our brand out there first so we’re doing a lot of pre-marketing activities right now,” Wenceslao said.
The 15-story residential development will sit on a 1,785 square meter lot in the 107-hectare Aseana City in Parañaque.
A total of 170 units will be offered by the condominium development, which will range from a 39-square meter
studio unit, 66-square meter one-bedroom unit and an 88-square meter two-bedroom unit.
Wenceslao noted that the project is targeted at the middle-income market, particularly aimed at young families.
“So we’re selling roughly at around P140,000 to P145,000 per square unit,” Wenceslao said.
Wenceslao said that the company expects to sell out all the units in two to three years.
Amenities featured by the project include a gym, adult pool, an elevated pool deck and pool lounge, function hall, and kiddie pool and kid’s play area.
Pixel Residences is designed by Spark Architects, an internationally renowned firm with projects in London, Beijing, Shanghai, and Singapore.
Aseana Residential noted that the project would provide residents easy accessibility via Pres. Diosdado Macapagal Blvd. and Roxas Blvd.
“Pixel Residences is also in proximity to NAIA via the NAIA Expressway, Cavite via the Southwest Integrated Transport Terminal, the future LRT Line 1 Extension, and other business, commercial and leisure zones,” the company said.
Development cost of the project will be around P1 billion to P1.3 billion, according to Wenceslao.
Construction is set to begin by January 2017.
Turnover of units is targeted at the second or third quarter of 2019.