Makati, Philippines – D.M. Wenceslao Group (PSE:DMW), through its residential development arm, Aseana Residential Holdings Corp. (ARHC), acquired a 1,600 sqm building in Legazpi Village, Makati City. Legazpi Village, a walkable neighborhood in the Makati Central Business District, known as haven for young professionals and families with its offering of new retail concepts, restaurants, and relaxing retreats of parks and open spaces.

The company stated that it plans to build an upscale residential condominium in the area.

“This has been a challenging year for the real estate sector with the impact of the pandemic. However, we remain optimistic in the market fundamentals and the prime location of the neighborhood. We believe that this property allows the company to expand and diversify our investment portfolio and development pipeline. While Aseana City remains our flagship project, we will continue to seek opportunities in prime locations even in this current environment, said DMW CEO, Mr. Buds Wenceslao in a statement.

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ABOUT D.M. WENCESLAO & ASSOCIATES, INCORPORATED

DMW is an integrated property developer with expertise in land reclamation, construction and real estate development. It is the master developer and primary owner of Aseana City, a development project with a total land area of 107.5 hectares located along the coastal waters of Manila Bay. Since 1965, DMW has reclaimed more than 2.4 million square meters of land, leased or developed 245,000 square meters of land and buildings, and completed over 140 construction and infrastructure projects including large, complex government developments throughout the Philippines. For further information, visit dmwai.com.

Parañaque, Philippines – As the ongoing rise of Covid-19 cases continue to disrupt business operations, brand events, and company celebrations both local and abroad, Aseana Holdings Inc. welcomed the second half of the year with the topping off ceremony of 8912 Asean Ave. Building, the newest and most sophisticated office development to date in Aseana City.

While it remained a quiet milestone because of the pandemic, DMWAI CEO, Buds Wenceslao expressed his positive outlook on the construction and real estate landscape. “We are in the phase of uncertainty and hesitancy as Covid-19 has proved to be a strong adversary to businesses causing refinancing, economic downturn, and immediate and catastrophic effect to different income groups. However, celebrating a milestone of one of our developments that is included in our 5-year pipeline projects despite the challenges that we are currently facing is something that should not be overlooked. This only demonstrates the dedication, commitment and competence of our team and the trust that we have earned in the decades-long relationships and partnerships with our internal and external stakeholders, clients and vendors.”

8912 Asean Ave. is a 15-storey office development along Asean Avenue with two interconnected towers right across Ayala Malls Manila Bay, the flagship mall of the Ayala Malls group. The project has approximately 69,000 sqm of leasable office and retail spaces with four levels of parking.

8912 Asean Ave. Building is slated for completion on the first half of 2021.

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ABOUT ASEANA HOLDINGS INC. (AHI)

Aseana Holdings Inc. is a 100% owned subsidiary of D.M. Wenceslao & Associates Inc. (DMW) – master developer and primary owner of Aseana City. Formed in 2003, Aseana Holdings Inc. was organized to cater to the development potential of Aseana City. Aseana City is a development project with a total land area of 107.5 hectares located along the coastal waters of Manila Bay. For further information, visit www.aseanacity.com.

D.M. Wenceslao and Associates Inc. has allocated P100 million as emergency contingency funds for its employees and tenants during the coronavirus disease 2019 (Covid-19) pandemic.

In a statement, D.M. Wenceslao Chairman Delfin Wenceslao said these funds would be used to ensure the continued payment of wages and leave conversions, and extension of financial assistance to employees.

“To commence this support and to alleviate the concern of our people, we are announcing that salaries for the next two successive periods shall be disbursed in advance, effective immediately,” he added.

Wenceslao also said his company had allotted funds to assist communities bordering its projects.

The listed property company would grant rent concessions for qualified tenants affected by the Luzon-wide enhanced community quarantine.

The island has been on lockdown since March 17 to contain the spread of the coronavirus disease 2019, which has infected

“As we have always stated, the DM Wenceslao Group always views any relationship with our stakeholders, both internal and external, as long-term partnerships,” Wenceslao said.

“We shall continue to have a positive and lasting impact in our communities, wherever and whenever our company is present and needed,” he added.

D.M. Wenceslao shares increased by 15 centavos or 2.22 percent to close at P6.90 each on Wednesday.

The SM group has deployed intensive care unit (ICU)-grade ventilators to various medical institutions to support the full recovery of COVID-19 patients, as part its P170-million budget to support medical front-liners in this pandemic.

The disinfecting apparatus donated by the Villar group in support of the country’s fight against the spread of COVID-19 outbreak has been installed at Rizal Medical Center in Pasig for use of the healthcare workers, staff and everyone going to the hospital.

For its part, Global healthcare company Johnson & Johnson (J&J) distributed 20,000 care kits to 26 hospitals and nine non-profit organizations (NGOs) nationwide to support Filipino healthcare workers. This donation is estimated at P10 million but the company has pledged to distribute another P10 million worth of rehydration drinks.

D.M. Wenceslao and Associates Inc. (DMWAI), owner-developer of Aseana City, unveiled a P100-million emergency contingency fund to help alleviate the impact of the COVID-19-related lockdown on its employees and tenants.

DMWAI chair Delfin Wenceslao said the fund would cover continued payment of wages, leave conversions, and other means of financial support and assistance. The company will also disburse salaries for two successive payment periods in advance. As for retail tenants, rent concessions will be granted to tenants affected by the mandated shutdown.

“We have also allocated funds and donations to address and assist the communities bordering our projects and developments,” Wenceslao said.

SM Foundation delivered the ventilators to the following institutions at the center of the COVID-19 war: Philippine General Hospital, Lung Center of the Philippines, Dr. Jose N. Rodriguez Memorial Hospital and San Lazaro Hospital.  It also provided ventilator units to West Visayas State University Medical Center in Iloilo and Baguio General Hospital.

The provision of much needed ICU-grade ventilators are seen to help many patients in critical care.

From the Villar group, disinfecting apparatus will also be installed in Lung Center, Heart Center, and Quirino Medical Center in Quezon City, RITM and Las Pinas General Hospital, San Lazaro and Sta. Ana Hospital in Manila, and Don Jose N. Rodriguez Memorial in Caloocan.

“Like you, we are amazed every single day by the commitment and selflessness of our nation’s healthcare staff who are braving their health and safety at the front lines to ensure ours,” said J&J Philippines managing director Raghu Krishnan.

“There is an urgent need to ensure the forts are held strong during these times of public health crisis. That is why, in response to the growing need for support, we are making these donations to ensure that our frontliners stay healthy and are able to continue the fight against COVID-19.”

Krishnan vowed to provide more aid within the coming weeks to supply partner hospitals with additional surgical masks and personal protective equipment (PPE).

“As the situation develops in our country, Johnson & Johnson Philippines will continue to look for ways that will allow us to extend our resources and expertise further. We will continue to bring our full resources and minds that we may overcome this pandemic together.”

SOURCE: https://business.inquirer.net/294286/more-corporate-aid-for-covid-19-front-liners-employees#ixzz6JZ1ERHVO