Property developer D.M. Wenceslao & Associates Inc. said Thursday its third commercial office building received an accreditation from the Philippine Economic Zone Authority as an information technology center.
DM Wenceslao said in a disclosure to the stock exchange Presidential Proclamation No. 592 declared the 15-story Aseana Three a special economic zone for information technology.
Asean Three’s accreditation entitles Peza-registered businesses located in the building to certain fiscal and non-fiscal incentives that include an income tax holiday for a certain number of years, which translates into a 100-percent exemption from corporate income tax, duty and tax-free importation of equipment and parts, exemption from wharfage dues on shipments of equipment imports and expanded withholding tax, and simplified import and export procedures.
“Aseana Three benefits from its proximity to major transportation links, tourism, and recreational and retail concepts in the Manila Bay,” DM Wenceslao chief executive Delfin Angelo Wenceslao said.
“With demand on the rise, we are complementing the speed of development with office construction in the area. The Peza accreditation is consistent with our strategy to provide value to our tenants through fiscal and non-fiscal incentives. It also allows us to accommodate a wider group of tenants and provide us with flexibility in meeting the needs of our growing business,” he added.
The 15-story building, fully leased out as of the end of 2017, has a total leasable floor area of 30,914 square meters. It offers large floor plates of 2,500 sq.m. and a high efficiency ratio of 90 percent based on the ratio of usable floor area to the gross floor area. Jenniffer B. Austria
Aseana Three is strategically located at the corner of President Diosdado Macapagal Boulevard and Asean Avenue, Aseana City right across the Ayala Malls Bay Area. It is just minutes from all terminals of the Ninoy Aquino International Airport (NAIA) as well as the NAIA Expressway, the planned Aseana City LRT station and the Parañaque Integrated Terminal Exchange (formerly known as Southwest Integrated Bus Terminal Exchange).