CONSTRUCTION firm DM Wenceslao and Associates Inc. (DMW) on Tuesday said it signed a 50-year lease deal with Saint Luke’s Medical Center for the land of the hospital that it will build in Aseana City, in Parañaque.
The company said the deal involves a 13,896-square-meter parcel of land in Aseana City.
The lease will expand DMW’s leasable portfolio to 261,888 sq m of which 171,974 sq m is total leased land area and 89,914 sq m is total leasable floor area, the company said.
“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,” Delfin Angelo C. Wenceslao, the company’s CEO, said.
“We are thrilled that Saint 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 health-care institution achieves another important milestone toward the development of Aseana City. It will accelerate our ability to deliver a complete community in our next generation city development,” Wenceslao said. Saint Luke’s currently has two facilities, one in Quezon City, and the second is in Bonifacio Global City in Taguig. The facilities have a combined total of 1,146 rooms, with 60,321 average in-patient admissions and 2.7 million outpatient consultations annually.
“We see a compelling opportunity for Saint Luke’s Medical Center to expand and scale operations to respond to our customers’ needs,” Arturo de la Peña, president and CEO of Saint Luke’s said.