DMW’s Q1 2025 Net Income Grows to P562M on Commercial Leasing Strength

​D.M. Wenceslao and Associates, Inc.’s (DMW) 1Q2025 net income grew to P562 million, propelled by its commercial leasing segment’s strong performance.

​Recurring revenues comprising rentals from land, commercial buildings, and other leasing sources rose 14% YoY to P899 million, representing 84% of total revenues for the quarter.

Commercial building revenues jumped 27% to P406 million, driven by the year-on-year improvement in occupancy across DMW’s commercial portfolio.

Residential revenues rose 13% to P167 million in 1Q2025. As MidPark moves toward full and handover, it will introduce a new community of residents to Aseana’s main street. This influx is expected to further increase foot traffic and patronage at Parqal.

DMW maintains a robust financial position with a debt-to-equity ratio of only 0.07x and a net cash position of P1.7 billion, providing ample financial flexibility to support ongoing projects and growth initiatives.

“Our first quarter results underscore the merits of our integrated development strategy and focus on placemaking,” said Delfin Angelo “Buds” C. Wenceslao, Chief Executive Officer. “In Aseana City, we see that demand rises to meet well-conceived supply, validating our approach of building not just structures but vibrant communities. As we move forward with our development pipeline, we remain confident in sustaining our momentum and delivering long-term value to our stakeholders,” Mr. Wenceslao added.
 
D.M. Wenceslao & Associates, Incorporated (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.