D.M. Wenceslao Signs Contract of Lease with St. Luke’s Medical Center, Inc.

06 June 2022

Paranaque City, Philippines, June 6, 2022 – D.M. Wenceslao & Associates, Inc. (DMW) signed a Contract of Lease with St. Luke’s Medical Center, Inc. (SLMC) for a 13,896sqm parcel of land in AseanaCity. The lease period is 50 years commencing in June 2022.

The land lease will bring D.M. Wenceslao’s total leased out land to 164,895sqms and will augment its recurring income.

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 over 60,000 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 by JCI as an Academic Medical Center Hospital.

“An integral part of holistic estate development is anticipating the needs of our locators. Immediate access to world-class healthcare institutions is a fundamental need that we have identified at the onset. To have St. Luke’s Medical Center, the country’s leading healthcare institution, fill this need is an important milestone for Aseana City,” said Mr. Delfin Angelo ‘Buds’ Wenceslao, Chief Executive Officer. “St. Luke’s Medical Center Aseana City solidifies Aseana’s status as a top mixed-used CBD destination of major brands and best-in-class institutions in the country,” Mr. Wenceslao highlighted.

“The rapidly growing Aseana City provides a compelling platform for St. Luke’s Medical Center to expand and scale operations to capture the robust healthcare growth in the country and in Southeast Asia,” said Dr. Arturo De La Peña, President and Chief Executive Officer of St. Luke’s Medical Center. “With proximate critical infrastructure connecting Aseana City to other Metro Manila CBDs, growing population centers south of Metro Manila, and to the Ninoy Aquino International Airport, St. Luke’s Medical Center Aseana City will be at the forefront of delivering high-quality patient-centered care and improving health outcomes through advanced technology,” Dr. De La Peña highlighted.