D.M. Wenceslao & Associates, Inc. Provides Capital Expenditures Guidance for 2018, 2019, 2020, 2021 and 2022
July 06, 2018 at 05:00 am
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D.M. Wenceslao & Associates Inc. (DMWAI) will be spending PHP 12 billion over the next five years to develop its mixed-use estate in Pasay City, banking on the rising demand for residential, retail, and commercial spaces in the area. The newly listed property and construction firm said this spending plan will allow for the development of projects covering 400,000 square meters in the 204-hectare mixed-use business district Aseana City. `(Development) depends on demand, whether the market can readily absorb it. The company has alloted PHP 3.1 billion for its capital expenditures in 2018, more than three times higher than the PHP 850 million it spent in 2017. DMWAI is set to spend PHP 3.5 billion for 2019 and PHP 4.3 billion for 2020, while the balance will be spent from 2021 to 2022. The company further clarify that the company will be spending around PHP 11 billion until 2020 for it development of projects. Also, at this time, only 352,890 sq.m (not 400,000 sq.m.), of leasable/saleable floor area in Aseana City is earmarked for the development of projects. Likewise, the total leasable floor area is 89,914 sq.m. (not 80,000 sq.m.). Lastly, the Aseana City comprises 73% (not 65%) of the Company's current land bank, and only 27% of its land bank is outside Aseana City.
D.M. Wenceslao & Associates, Incorporated is a Philippines-based integrated real estate development and construction company. The Company is engaged in the trade and business of general builders and contractors and related activities, such as acting as specialty construction contractors, supervisors, or managers in all cases of constructions, erections and works both public and private, real estate business and leasing. Its segments include Rentals, which is engaged in leasing of real estate properties, including land and building and other structures; Construction segment, which is engaged in general construction business, which involves site development, earthworks, structural and civil works, masonry works, architectural finishes, electrical works, plumbing and sanitary works, fire protection works and mechanical works, and Sale of Land and Condominium Units segment, which is engaged in development and sale of industrial and other parcels of land and residential condominium units.
D.M. WENCESLAO & ASSOCIATES, INCORPORATED 
