By James A. Loyola D.M. Wenceslao & Associates, Incorporated, an integrated property developer with expertise in land reclamation, construction and real estate development, expects to continue posting dramatic growth with fresh capital raised from its P8.1-billion initial public offering (IPO). “One of the reasons we proceeded with the IPO is we were confident about the growth trajectory of the company,” said DMW Chief Executive Delfin Angelo C. Wenceslao. He noted that, in 2015, “even though we did not get the IPO funds, the company has still substantially grown. We basically doubled our net income from 2015… for the foreseeable future we see that growth is still there.” “Moving forward, you are likely to see us maintain our recurring income at 50 to 60 percent. We expect our residential sales to take up most of our land sale component right now because there's a huge component of our revenue stream that is attributed to land sales. So we expect residential sales to take over that in the coming years,” Wenceslao said. DMW has raised a total of P8.1 billion through the sale of 679.2 million shares or 20 percent of the Company's total issued shares at P12.00 per share. Of the net proceeds of P7.6 billion, about P3.7 billion or 49 percent will be used to fund the development and construction of the company’s nine planned real estate projects. Approximately P2.9 billion or 38 percent will be used to obtain land assets through potential share acquisitions, while the remaining P1 billion or 13 percent is intended to fund the development of infrastructure within Aseana City and for other general corporate purposes. "With our more than 50-year execution record in real estate development and construction, the proceeds raised from our IPO will enable us to expand our real estate portfolio through a mix of commercial and residential projects in Aseana City,” said Wenceslao. He added that, “these pipeline projects will continue to increase our recurring revenue streams and sustain our long-term growth."