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Aseana building 5 towers

Aseana Holdings Inc., the developer of the 204-hectare Aseana City project in Parañaque City, will invest another P5 billion to construct five towers and finance the remaining development in the area.

Aseana Holdings chairman Delfin Angelo Wenceslao said the company was looking at proceeds from a proposed initial public offering to fund the Aseana City development.

“We’re raising money for expansion specifically for Aseana development... We’re also looking at other projects in the Visayas on top of public-private partnership projects that we are eyeing to participate in as a company or as a consortium with other construction firms,” Wenceslao said at the sidelines of the 26th PhilConstruct 2015 Trade and Exhibition at the SMX Convention Center in Parañaque City.

The company has so far built three buildings within Aseana City, including Aseana 1, Aseana 2 and Aseana Power Station building.

Wenceslao said the remaining projects in Aseana would be dedicated to business process management companies. 

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