Paranaque City, Philippines, February 18, 2020 — D.M. Wenceslao & Associates, Incorporated (PSE: DMW) signs a memorandum of understanding (MOU) with St. Luke’s Medical Center to enter into a 50-year lease agreement for a 13,896-square meter (sq.m.) parcel of land in Aseana City.

The new leasewill expand DMW’s leasable portfolio to 261,888 sq.m., of which 171,974sq.m. is total leased land area and 89,914 sq.m. is total leasable floor area.

“DMW’s success has always been based on anticipating the needs of our customers and providing them the solutions they require to make long term investments to grow their businesses,” said Delfin Angelo “Buds” C. Wenceslao, chief executive officer of DMW. “We are thrilled that St. Luke’s Medical Center has chosen Aseana City for its flagship hospital in the Manila Bay area. The signing of this agreement with the country’s leading healthcare institution achieves another important milestone towards the development of Aseana City. It will accelerate our ability to deliver a complete community in our next generation city development,” Wenceslao added.

St. Luke’s Medical Center is recognized as the leading and most respected healthcare institution in the Philippines. Its two facilities in Quezon City and Global City, Taguig have a combined total of 1,146 rooms, with 60,321 average in-patient admissions and 2.7 million outpatient consultations annually. In 2003, it was the first hospital in the country and the second in Asia to be accredited by the Joint Commission International (JCI)—the world’s leader in healthcare accreditation and quality improvement. In 2016, it was also the first in the country to be accredited as an Academic Medical Center Hospital and become a member of the Mayo Clinic Care Network.

“We see a compelling opportunity for St. Luke’s Medical Center to expand and scale operations to respond to our customers’ needs,” said Dr. Arturo De La Peña, president and chief executive officer of St. Luke’s Medical Center. “Aseana City not only offers the right location to capture the robust healthcare growth in the country and South East Asia, it also takes a holistic approach throughout its master plan, while setting standards for sustainability. With access to all terminals of the Ninoy Aquino International Airport and the rapidly growing population centers south of Metro Manila, this new facility will be at the forefront of convenience to patients and health practitioners alike. We look forward to continue delivering high-quality, patient-centered care for all our hospital patients and to contribute to improved health outcomes through advanced technology.”