MANILA -- Aseana City developer DM Wenceslao and Associates will break ground on two new office buildings this year.

Speaking on ANC's Market Edge, chief executive officer Buds Wenceslao said the company saw strong demand for office spaces in 2024.

"Last year, as I mentioned, was our biggest office take up. You know, we closed about 45,000 square meters last year. We're actually left at about 30 to 40,000 and we predict, in about a year, a year and a half's time we'll hit close to 90 percent," he said.

Wenceslao said they are still getting inquiries on their office spaces from different kinds of businesses.

"We were definitely expecting some slow down because of the recent announcement regarding gaming industries, but I think just because of the unique advantages that the offerings that we're putting out, specifically in Aseana City, we were quite happy with that," he said.

"Even in terms of the inquiries we're getting, we're still seeing the renewed take up, the already renewed interest we're getting from different sectors."

Wenceslao also said the firm is planning its first co-living development--a 10-storey building with 400 beds.

"It's not for sale. This is another addition to our recurring income portfolio. Based on, from what we're seeing, there's the industries that are setting up shop here in Aseana City, you know, housing affordability is a big factor that we're seeing, we want people to not just be able to work here, but also live here," he said.

"So we're setting this up in terms of servicing all of the (business process outsourcing) and logistics industries that are setting shop here in the Aseana City," he explained.