Land sale boosts DM Wenceslao’s cash position to over P2.4B

Land sale boosts DM Wenceslao’s cash position to over P2.4B

Property developer and construction firm D.M. Wenceslao & Associates Inc. (DMW) recently completed the sale of a 1,790 square meter lot within its 107-hectare Aseana City.

DMWs said the land sale further fortified its balance sheet, which was already at a net cash position of P2.4 billion as of the third quarter of of 2021.

The lot forms part of the land DMW has allocated for future sales.

DMW said it still had 6,000 sqms of available land for sale to parties that would contribute to the overall growth of the Aseana City.

DMW pointed out that these parcels of land are non-core plots to the company’s own development plan.

“Closing this land sale validates the merits of our approach to develop Aseana holistically; we ensure quality locators that each accrue value to the whole estate rather than just increase sheer density. We manage Aseana City based on global standards, with emphasis on the CBD’s mixed-use masterplan, walkability, sustainability, and prime location,” said Delfin Angelo ‘Buds’ Wenceslao, CEO of DMW.

“Such approach continued to attract locators, allowing asset prices in Aseana City to remain in a growth trajectory despite the COVID-19 pandemic,” he added.

DMW closed 1.2 percent higher Monday at P6.68 per share.


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