D.M. Wenceslao and Associates Inc. (DMW) reported net income of P1.25 billion in the first nine months of 2026, down 10.7 percent from P1.4 billion a year earlier, with recurring leasing revenues continuing to support its business.
In a disclosure, the property developer said its nine-month earnings were mainly driven by the steady performance of its properties in Aseana City.
Recurring revenues from land, commercial buildings and ancillary leasing totaled P2.5 billion, accounting for 93 percent of total revenues, with sales from Midpark Towers contributing P462.2 million to revenue in the period.
DMW reported a debt-to-equity ratio of 0.06 times and a current ratio of 3.5 times, reflecting its balance sheet position.
The company said that while office tenants continued to defer leasing decisions, DMW remains positioned to accommodate anchor tenants through its available office spaces and AXS coworking facilities.
In the residential segment, it said buyers remained focused on available supply, while its Parqal retail development continued to draw on experiential offerings, community events and wellness activities to attract visitors.
“In Aseana City, we continue to foster a truly integrated ecosystem. Together with strong capital management and a focused development path, DMW strives to provide the community with new developments and projects to fit demand despite the current market conditions,” Chief Financial Officer Benigno M. T. Datuña said.
DMW is the master developer and primary owner of Aseana City, a 107.5-hectare mixed-use estate along Manila Bay.
On Thursday, the company’s shares slipped P0.07, or 1.47 percent, to close at P4.68 each.
