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Manila Bulletin devider Business devider The Stock Market devider DM Wenceslao grows profit despite challenges from POGO ban

DM Wenceslao grows profit despite challenges from POGO ban

Published May 15, 2025 01:16 pm
While the Parañaque real estate market has been affected by the ban on POGOs, D.M. Wenceslao and Associates, Inc. (DMW) continued to grow its earnings due to the boost from its new mall.
In a disclosure to the Philippine Stock Exchange, the firm said its first quarter 2025 net income grew two percent to ₱562 million from ₱551 million in the same period last year, propelled by its commercial leasing segment’s strong performance.
Recurring revenues comprising rentals from land, commercial buildings, and other leasing sources rose 14 percent year-on-year to ₱899 million from ₱790 million, representing 84 percent of total revenues for the quarter.
Commercial building revenues jumped 27 percent to ₱406 million, driven by the year-on-year improvement in occupancy across DMW’s commercial portfolio.
Residential revenues rose 13 percent to ₱167 million in 1Q2025. As MidPark moves toward full completion and handover, it will introduce a new community of residents to Aseana’s main street and this influx is expected to further increase foot traffic and patronage at the firm’s Parqal mall.
“Our first quarter results underscore the merits of our integrated development strategy and focus on placemaking,” said DMW Chief Executive Officer Delfin Angelo C. Wenceslao.
He added that, “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.”

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Delfin Angelo C. Wenceslao D.M. Wenceslao and Associates Inc.
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