Property developer D.M. Wenceslao & Associates Inc. said Tuesday it agreed to lease a 13,896-square-meter lot in Aseana City to St. Luke’s Medical Center for a period of 50 years.
Aseana City in Parañaque is a 107.5-hectare development along the coastal waters of Manila Bay.
DMW said in a disclosure to the stock exchange the latest lease agreement with SLMC would expand the company’s leasable portfolio to 261,888 sq. m., including 171,974 sq. m. in the leased land area and 89,914 sq. m. in the total leasable floor area.
“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,” said DMW chief executive Delfin Angelo Wenceslao.
“We are thrilled that St. 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 healthcare institution achieves another important milestone towards the development of Aseana City. It will accelerate our ability to deliver a complete community in our next-generation city development,” Wenceslao said.
SLMC is one of the leading and most respected healthcare institutions in the Philippines. Its two facilities in Quezon City and Global City, Taguig have combined 1,146 rooms, with 60,321 average in-patient admissions and 2.7 million outpatient consultations annually.
“We see a compelling opportunity for St. Luke’s Medical Center to expand and scale operations to respond to our customers’ needs,” said Dr. Arturo De La Peña, president and chief executive of SLMC.
“Aseana City not only offers the right location to capture the robust healthcare growth in the country and Southeast Asia, it also takes a holistic approach throughout its master plan, while setting standards for sustainability,” De la Peña said.
“With access to all terminals of the Ninoy Aquino International Airport and the rapidly growing population centers south of Metro Manila, this new facility will be at the forefront of convenience to patients and health practitioners alike. We look forward to continue delivering high-quality, patient-centered care for all our hospital patients and to contribute to improved health outcomes through advanced technology,” he said.