D.M. Wencleslao & Associates, Inc. (DMW) said it recently signed a contract of lease with membership shopping mart Landers for space at the listed property developer’s Aseana City Project.
In a statement on Tuesday, DMW said Landers booked a 15,064-square meter parcel of land in its 107.5-hectare project along the coastal area of Manila Bay. The lease term is good for 25 years.
“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 Delfin Angelo C. Wenceslao, chief executive officer of DMW.
According to its website, Landers currently has six branches. This includes stores in Bonifacio Global City, one along EDSA Balintawak, Landers Otis in Paco, Manila, Landers Alabang, Cebu, and Landers Arcovia in Pasig.
Landers houses local and international brands, along with in-house dining options.
“Landers has amassed significant following over the years,” Mr. Wenceslao said. “We look forward to the additional draw and the critical mass that Landers will bring to Aseana.”
DMW shares at the stock exchange closed at P6.76 apiece on Monday. Trading was canceled on Tuesday due to a technical glitch with the local bourse operator’s trading engine. — Keren Concepcion G. Valmonte