D.M. Wenceslao and Associates, Inc.’s H1 2025 Net Income Rises to P936 Million on Sustained Leasing Momentum

D.M. Wenceslao and Associates, Inc.’s (DMW) H1 2025 net income rose to P936 million, reflecting sustained growth in its rental businesses.

Recurring revenues comprising rentals from land, commercial buildings, and other ancillary leasing sources increased 9% YoY to P1.7 billion, representing 90% of total revenues.

Commercial building and ancillary rental revenues surged 17% to P1.0 billion, driven by a consistently strong lease take-up and higher percentage-of-sales collections from top-performing F&B, retail, and wellness tenants at Parqal.

Riding a sustained leasing momentum, DMW broke ground on the first phase of Aseana Plaza in May 2025. Phase 1 will offer approximately 70,000sqms of gross leasable area (GLA), out of the 130,000sqms GLA total. The four-tower development will anchor the continued expansion of DMW’s commercial leasing segment in the years ahead.

Residential revenues reached P178 million as Midpark Towers moved closer to full completion. Two of the four towers have already been finished, with the remaining two scheduled for completion in the second half of the year. Unit handovers are underway, welcoming a new community of residents along Aseana’s main street.

With a low debt-to-equity ratio of 0.09x and a net cash position, DMW maintains the financial strength and flexibility to advance its current pipeline while pursuing strategic growth opportunities.
 
"By focusing on building a community rather than standalone structures, we have created a stable platform that can weather industry cycles and deliver consistent value to our stakeholders," said Benigno A. Tatunay, Chief Finance Officer.

DMW is an integrated property developer with expertise in land reclamation, construction, and real estate development. It is the master developer and primary owner of Aseana City, a development project with a total land area of 107.5 hectares located along the coastal waters of Manila Bay. Since 1965, DMW has reclaimed more than 2.4 million square meters of land leased or developed over 400,000 square meters of land and buildings and completed over 140 construction and infrastructure projects including large, complex government developments throughout the Philippines.