FILIPINOS in Institutional Real Estate (FIIRE) held a 5-day conference in the Philippines for a delegation coming from the United States in mid-February.

FIIRE initially planned an inaugural event in the Philippines to commemorate the beginning of the Manila Chapter in February 2020, eventually pivoting to a virtual launch due to COVID-19.

The recent conference served as an opportunity to celebrate the inauguration of the Manila Chapter of FIIRE while allowing visiting FIIRE members the opportunity to explore the Philippines first-hand as originally intended.

Through launching a Philippines Chapter, FIIRE intends to do the following:

• Assist in attracting large institutions to invest in the Philippines;
• Cultivate a pipeline of talent by sharing best practices of the US specific to the commercial real estate industry;
• Create an exchange program that will bring Filipino students/professionals to train with institutional commercial real estate companies.

The event included a welcome dinner hosted at a private estate in Forbes Park hosted by Monocle Group and Longview, a market introduction by AyalaLand, and real estate tours in various areas of BGC, Makati, Pasay City, and Aseana City hosted by NEO, AyalaLand, SM, and DM Wenceslao.

The main event was held on Friday, February 17 at the Shangri-La in Bonifacio Global City. Speakers included board members from the U.S. – Gloria Browning Gil, Jennifer del Rosario Taylor, Huber Bongolan, Barbara Faylona-Jesuele, and Ernie Ocampo. Economic and real estate updates were presented by Victor Calanog/Moody’s Analytics and David Leechiu/Leechiu Property Consultants. A keynote presentation was provided by Wick Veloso/GSIS.

The first panel discussion with Sheryll Verano/Arthaland Corporation, Mike Rodriguez/Macquarie Asset Management, and RB Roa/ATRAM touched on the growth of the Philippine real estate sector, highlighting how unprecedented capital is being sourced from both equity and debt markets.

Another panel featured Barbara Faylona-Jesuele/J. Paul Getty Trust, Jonathan “Loy” Umali/Arch Capital, and Paul Gately/EQT Exeter who all came in from different countries to discuss the key components institutional real estate investors analyze when entering new markets and potential partners. They also highlighted how institutional capital can provide advantages for local real estate developers to grow and scale their businesses.

A FIIREside chat moderated by Eric Manuel/Arch Capital and featuring Gloria-Browning Gil, co-founder of FIIRE, concluded the program. Through this chat, the audience discovered how FIIRE started, the importance of mentors, the rise of Gloria’s career, and her outlook on the industry.

Over the weekend, a Poblacion food and pub crawl was coordinated by Poblacion Land and Urban Development for the attendees to get a taste of the nightlife in the vibrant area that has rapidly been transforming over the past few years. The National Parks Development Committee hosted a tour of Intramuros and its rich history. The last day of the conference, delegates were invited to visit the Philippine Stock Exchange.

The conference concluded with a master class in collaboration with Urban Land Institute (ULI) Philippines, with speakers from the U.S. discussing real estate topics such as an introduction to institutional investing, debt market, underwriting, fund management, asset management, and much more.

The events were made possible through the generous sponsorship of Arch Capital Management, D.M. Wenceslao and Associates, Manulife Investment Management, EQT Exeter, NEO, Leechiu Property Consultants, Monocle Group, Arthaland Corp, AyalaLand, Santos Knight Frank, CebuLand, Corebuilt, Grow Capital Partners, Romulo, KMC Savills, Colliers, Catellina Property Consultants.

FIIRE, or Filipinos in Institutional Real Estate, is a 501c3 trade organization started in the United States of America that focuses on networking, educating and mentoring Filipinos in institutional real estate. The organization was established in 2009 and has chapters throughout the US in Chicago, Honolulu, Las Vegas, Los Angeles, Mid-South, New York City, New England, San Diego, San Francisco, Pacific Northwest and internationally in the Philippines.

Source: https://asianjournal.com/business/real-estate/fiire-holds-conference-for-us-delegation-in-manila/

Paranaque City, Philippines, September 9, 2022 – D.M. Wenceslao & Associates, Inc.’s (DMW) wholly-owned subsidiary Aseana Residential Holdings topped off the fourth and final tower of its second residential project, the MidPark Towers.

Slated for completion in 2023, MidPark Towers is a modern architectural masterpiece perched on a highly coveted location in close proximity to Ayala Malls Manila Bay and DMW’s own 5-hectare mixed-use green development – Parqal.

MidPark Towers’ unit layouts are 40 sqm+/- studio unit, 52 sqm+/- one-bedroom unit, 80 sqm+/- two-bedroom unit, and a 120 sqm+/- three-bedroom unit.

“We remained all systems go in our expansion projects despite the pandemic. Very soon, the residents of MidPark Towers will be able to enjoy the complete community of Aseana City; from the lush green landscapes and first-rate commercial outlets in Parqal just beside MidPark Towers to all the best-in-class locators in Aseana including the biggest Ayala Mall in the country, the soon-to-rise St. Luke’s Medical Center Aseana City, major warehouse shopping chains, top-grade offices, and major integrated resorts in Entertainment City,” said Mr. Delfin Angelo ‘Buds’ Wenceslao, Chief Executive Officer. “Residents will also enjoy ease of access and abundant means of transport through NAIA Expressway, Paranaque Integrated Terminal Exchange, the future LRT Line-1 extension, elevated walkways, and bike lanes across the estate,” Mr. Wenceslao highlighted.

Paranaque City, Philippines, January 4, 2022 – In December 2021, D.M. Wenceslao & Associates,Inc. (DMW) signed a Contract of Lease with Landers for a 15,064sqm parcel of land in Aseana City. The lease term is 25 years.

Landers is a major membership shopping chain in the country with several branches in Metro Manila as well as in Cebu. Landers Superstores offer a wide array of local and international finds along with delectable in-house dining options.

“We are excited to host Landers in Aseana City; not only will this land lease be recurring income-accretive to DMW but will also advance our efforts to further increasing the diversity of major brands and essential locators in Aseana City,” said Mr. Delfin Angelo ‘Buds’ Wenceslao, Chief Executive
Officer. “Landers has amassed significant following over the years; we look forward to the additional draw and the critical mass that Landers will bring to Aseana,” Mr. Wenceslao highlighted.

Paranaque City, Philippines, May 21, 2021 – D.M. Wenceslao and Associates, Incorporated (PSE: DMW) (“DMWAI” or “the Company”) reported its financial and operating results for the 1Q2021. DMWAI’s consolidated revenues declined 32% yoy to ₱693 million. Despite the revenue decline, net income attributable to parent equity holders rose 24% to ₱552 million as a result of a tax credit related to Corporate Recovery and Tax Incentives for Enterprise Act (CREATE) which was signed into law last March 26, 2021.

DMWAI’s residential revenues dropped 61% yoy to ₱194 million due to the impact of revenue recognition timing. Particularly, only ₱44 million revenues were booked for Pixel Residences in the 1Q2021 compared ₱480 million in the comparable period last year. Note that Pixel Residences is already near completion, a phase where construction progress and revenue booking are generally slower. On the flipside, revenues from MidPark towers reached ₱150 million from ₱18 million in the 1Q2020.

Recurring income consisting of rentals from land, building, and other revenues such as common use service area fees continued to provide a robust source of revenue for the Company.  Recurring income stood at ₱497 million, accounting for 72% of total 1Q2021 revenues. Notwithstanding the threats posed by the COVID19 pandemic, the Company’s building leasing portfolio maintained a healthy occupancy rate of 90%.

“After what can only be described as a uniquely challenging 2020, we continue to navigate through the pandemic with undeterred optimism towards recovery. There is now light at the end of the tunnel, with the country’s vaccination program already in place,” said Mr. Delfin Angelo ‘Buds’ Wenceslao, Chief Executive Officer. “Aside from an expected improvement in the economic backdrop, with the DBCC projecting GDP growth of 6% to 7% this year, our leasing business is also set to receive a shot in the arm, with the expected completion of 8912 Asean Ave in 2Q2021, which will add over 69,000 sqms to our total GLA and will significantly boost DMWAI’s recurring income stream. Time and again, our recurring income-focused business model, complemented by residential sales has proven effective through different stages of the economic cycle, including a pandemic-induced downturn,” Mr. Wenceslao added.

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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 260,000 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 or contact iro@dmwai.com