Integrated property developer D.M. Wenceslao & Associates, Inc. said Tuesday submitted new proposals to the Philippine Reclamation Authority to undertake reclamation projects in Parañaque City and Cavite.
In a disclosure to the stock exchange, DMW said the project in Parañaque is an additional 400 hectares of land in front of Aseana City and Entertainment City.
The proposal contains two reclamation areas where the government is expected to receive 200 hectares at zero cost to it.
Meanwhile, the project in Cavite is for the reclamation of approximately 335 hectares of offshore island in Sangley in preparation for the development of the Sangley International Airport. The proposal is undergoing review by the Office of the President, Department of Transportation and the Department of Finance.
“We look forward to continuing our work with the government to strengthen the country’s development activities,” DMW Chairman Delfin Wenceslao Jr. said.
“We look forward to demonstrate once again our expertise in land reclamation. Over the last 50 years, we have reclaimed more than 2,400,000 square meters of land across the Philippines,” Wenceslao added.
DMW 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 250,000 square meters of land and buildings, and completed over 140 construction and infrastructure projects.
On Thursday, shares in DMW were down 1.01% to close at P9.80 each. — Ian Nicolas Cigaral
https://www.philstar.com/business/2019/12/19/1978313/dm-wenceslao-submits-proposals-paraaque-cavite-reclamation-projects
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