Construction and real estate developer D.M. Wenceslao & Associates Inc. lined up nine projects over the next five years to expand its real estate footprint and broaden its sources of recurring income, a top executive said Thursday.
DMWAI chief executive Delfin Angelo Wenceslao said in a statement three residential and six commercial developments were in the pipeline. The residential projects will provide a total salable floor area of 88,000 square meters while the commercial ventures would offer a total leasable area of 280,000 sqm.
“We are also in a good position to avail of construction opportunities available in this golden age of infrastructure,” said Wenceslao.
Projects in the pipeline include DMWAI’s first residential development, Pixel Residences, which is set to be completed by October 2019.
Nearly half of DMWAI’s revenues come from recurring sources, or from leasing office and commercial space and land rentals. This has enabled the company to double net income to P1.56 billion in 2017 from P872 million in 2015. MWAI, which plans to raise up to P17.8 billion through an initial public offering in May, owns 57 hectares of land in Metro Manila.
