D.M. Wenceslao and Associates, Inc. (DMW) announced a significant increase in its net income for the first quarter of 2025, reaching Php 562 million. This strong performance was primarily fueled by the exceptional growth of the company’s commercial leasing segment.
The company reported that recurring revenues, which include rentals from land, commercial buildings, and other leasing sources, saw a substantial year-on-year (YoY) increase of 14%, amounting to Php899 million. This segment now represents a significant 84% of DMW’s total revenues for the first quarter.
A key driver of this growth was the commercial building sector, which experienced a remarkable 27% surge in revenues to Php406 million. This impressive increase was attributed to the continued improvement in occupancy rates across DMW’s commercial property portfolio.
Residential revenues also demonstrated positive momentum, rising by 13% to Php167 million in 1Q2025. The company highlighted that the ongoing progress of its MidPark development, as it nears full occupancy and handover, is set to introduce a new community of residents to Aseana City’s main street. This influx of residents is anticipated to further boost foot traffic and patronage at DMW’s flagship commercial development, Parqal.
DMW maintains a solid financial footing, boasting a low debt-to-equity ratio of only 0.07x and a healthy net cash position of Php1.7 billion. This strong financial flexibility positions the company well to support its ongoing development projects and pursue future growth initiatives.
Delfin Angelo “Buds” C. Wenceslao, Chief Executive Officer of DMW, commented on the company’s performance, stating, “Our first quarter results underscore the merits of our integrated development strategy and focus on placemaking. 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.”
