Property firm DMW reports P936-million profit on strong rental growth

D.M. Wenceslao and Associates, Inc. (DMW) reported a net income of %u20B1936 million in the first half of 2025, up 2 percent from %u20B1918 million a year earlier, supported by continued growth in its rental businesses.

In a disclosure to the Philippine Stock Exchange, DMW said gross revenues rose 3.7 percent to %u20B11.96 billion from %u20B11.89 billion in the same period last year.

Recurring revenues—comprising rentals from land, commercial buildings, and ancillary leasing—grew 9 percent year-on-year to %u20B11.7 billion, making up 90 percent of total revenues. Commercial building and ancillary rental revenues surged 17 percent to %u20B11 billion, fueled by strong lease take-up and higher sales-based collections from top-performing tenants at Parqal mall.

The firm also highlighted the groundbreaking of the first phase of Aseana Plaza in May 2025. The four-tower development will add 130,000 square meters of gross leasable area (GLA), with 70,000 sqm to be completed in the initial phase. The project is expected to bolster DMW’s leasing segment in the coming years.

Residential revenues reached %u20B1178 million, driven by progress at Midpark Towers, where two of the four towers have already been completed. The remaining towers are on track for completion in the second half of the year.

“By focusing on building a community rather than standalone structures, we have created a stable platform that can weather industry cycles and deliver consistent value to our stakeholders,” said DMW Chief Finance Officer Benigno A. Tatunay.