D.M. Wenceslao 9-month profit steady at P1.4B, banks on 2026 property upturn

November 12, 2025
9:02AM PHT

Developer D.M. Wenceslao and Associates Inc. (DMW), the force behind the sprawling Aseana City reclamation estate along Manila Bay, kept its net income steady at P1.4 billion for the first nine months of 2025.

The stability reflects strong leasing performance and a solid recovery in residential sales.

“We look toward 2026 with optimism, supported by the sustained improvement not only in DMW’s operations but also in the broader Metro Manila property market,” said chief finance officer Benigno A. Tatunay

“With falling interest rates, we see a more favorable environment ahead that will further stimulate property demand and enhance the growth trajectory of our portfolio,” he added. 

Recurring revenues rose to P2.5 billion, making up 86 percent of total income, as commercial and land leasing remained firm across DMW’s Aseana developments. 

Residential revenues surged 41 percent year-on-year to P387 million, surpassing the full-year 2024 level as unit handovers accelerated.

The company also broke into the flexible workspace segment with AXS Aseana, a 687-square-meter co-working hub designed for startups, remote teams, and corporate clients.

—Edited by Miguel R. Camus 

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