D.M. WENCESLAO & Associates, Inc. (DMW) announced in a disclosure on Monday that it signed a contract of lease with St. Luke’s Medical Center, Inc. (SLMC) for a 13,896 square meter (sq.m.) land in Aseana City, Parañaque.
“An integral part of holistic estate development is anticipating the needs of our locators. Immediate access to world-class healthcare institutions is a fundamental need that we have identified at the onset,” DMW Chief Executive Delfin Angelo C. Wenceslao said in a statement.
“SLMC Aseana City solidifies Aseana’s status as a top mixed-use central business district (CBD) destination of major brands and best-in-class institutions in the country,” he added.
The lease period is 50 years commencing in June 2022, bringing DMW’s total leased out land to 164,895 sq.m.
“The rapidly growing Aseana City provides a compelling platform for SLMC to expand and scale operations to capture the robust healthcare growth in the country and in Southeast Asia,” SLMC President and Chief Executive Arturo S. De La Peña said.
“With proximate critical infrastructure connecting Aseana City to other Metro Manila CBDs, growing population centers south of Metro Manila, and to the Ninoy Aquino International Airport, SLMC Aseana City will be at the forefront of delivering high-quality patient-centered care and improving health outcomes through advanced technology,” he added.
SLMC’s two facilities in Quezon City and Taguig have a combined total of 1,146 rooms, with over 60,000 average in-patient admissions and 2.7 million outpatient consultations annually.
DMW is an integrated property developer focused on land reclamation, construction, and real estate development. It owns and develops Aseana City, a development project with a total land area of 107.5 hectares.
Since 1965, DMW has reclaimed more than 2.4 million sq.m. of land; leased or developed 250,000 sq.m. of land and buildings; and completed over 140 construction and infrastructure projects including large, complex government developments throughout the country.
At the stock exchange on Monday, DMW shares dropped by 0.29% or two centavos to close at P6.78. — Luisa Maria Jacinta C. Jocson