MANILA, Philippines — D.M. Wenceslao & Associates Inc. (DMWAI) will build three more office towers at the Aseana City, which is envisioned to be The Next Generation City.
DMWAI chief executive officer Delfin Angelo Wenceslao said Aseana City would have large scale developments.
“With increasing traffic, energy costs and accessibility considerations, Aseana City ensures that its residents will be able to take advantage of its unique masterplan,” he said.
The company reported a 42 percent increase in net income to P969.8 million in the first half on strong growth of its core leasing business.
“Strong execution from our marketing and construction teams is accelerating momentum across our businesses,” he said.
The company has already completed its third commercial office building ahead of schedule and within budget, Wenceslao said.
“The early delivery added over 30,000 square meters of leasable gross floor area which was fully leased out as of the end of 2017,” he added.
Revenues reached P1.2 billion with recurring income contribution reaching 80 percent primarily due to the completion of a new office building.
Construction remains on track for residential condominium project Pixel Residences which is expected to be completed by 2019.
Wenceslao said the company would continue to ramp up the business—strategically and with a long-term mindset—while also taking decisive action that could produce meaningful returns to shareholders in the years ahead.
As of June 30, the company’s total leasable gross floor area increased 52 percent to 89,914 square meters.
DMWAI is an integrated property developer with expertise in land reclamation, construction and real estate development.