DM Wenceslao developing 9 projects
Construction and real estate developer D.M. Wenceslao & Associates, Incorporated (DMWAI) is developing nine real estate projects over the next five years to expand its footprint and broaden its sources of recurring income.
In a statement, DMWAI chief executive officer Delfin Angelo Wenceslao said the firm has three residential and six commercial developments in the pipeline.
He added that the residential projects will provide an approximate total saleable floor area of 88,000 sq.m., while the commercial ventures promise a total leasable area of 280,000 sq.m.
These include DMWAI’s first residential development, Pixel Residences, which is set to be completed by October, 2019.
“We are also in a good position to avail of construction opportunities available in this golden age of infrastructure,” said Wenceslao.
Around half of DMWAI’s revenues come from recurring sources, or from leasing office and commercial space and land rentals. It has doubled its net income from R872 million in 2015 to R1.56 billion in 2017.
DMWAI group owns 57 hectares of land in Metro Manila. Most of that is in the 110-hectare Aseana City, one of the country’s largest and fastest-growing mixed-use business districts.
“Its location makes Aseana City a direct beneficiary of certain fast-growing sectors, including business outsourcing, gaming and tourism,” said Wenceslao.
DMWAI group has developed roughly half of its land holdings in Aseana City. The other half remains unallocated. (JAL)