REAL estate development and construction company D.M. Wenceslao & Associates Inc. (DMW) said it has signed a contract of lease with St. Luke's Medical Center Inc. for a 13,896-square-meter (sqm) parcel of land in Aseana City, one of the company's largest developments.

The lease period is 50 years commencing in June 2022. St. Luke's Medical Center is recognized as the leading and most respected health care institution in the Philippines and with this signing, the land lease will bring DMW's total leased out land to 164,895 sqm and will augment its recurring income.