Recurring income from land, building, and ancillary rentals jumped 27 percent to P3.3 billion, making up nearly 90 percent of total earnings as demand for office and commercial spaces surged.
Management’s view
“While the broader Metro Manila office market still faces headwinds, we have leveraged Aseana City’s strategic advantages – including its prime location, public transport connectivity, diverse mixed-use products, and world-class amenities – to attract business occupiers from all industries, driving significant growth,” said Delfin Angelo ‘Buds’ Wenceslao, CEO of DMW.
“This success reinforces our confidence and optimism as we advance our new development pipeline in 2025,” he added.
Segment breakdown, expansion
The company’s commercial building revenues soared 45 percent to P1.4 billion, benefiting from strong leasing activity in the logistics, shipping, and manning sectors.
Residential revenues contributed P385 million as its MidPark project neared completion, adding to the company’s diversified income streams.
With a solid net cash position of P1.8 billion and minimal debt, DMW remains well-positioned to expand its development pipeline in 2025
