D.M. Wenceslao and Associates, Inc. (DMW) has been tapped by St. Luke’s Medical Center to lease a parcel of land in Aseana City for a new hospital in the Bay Area.

In a statement yesterday, the listed property and construction firm said it had signed a memorandum of understanding with the hospital operator to enter a 50-year lease contract for a 13,896-square meter land in Parañaque City.

This would bump up DMW’s portfolio of leasable space to 261,888 square meters, where 171,974 square meters comprise the total leased land area and 89,914 square meters the total leasable floor area.

“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 health care institution achieves another important milestone towards the development of Aseana City,” DMW Chief Executive Officer Delfin Angelo “Buds” C. Wenceslao said in the statement.

He noted the integration of a tertiary hospital in Aseana City would help DMW fulfill its goal of building a “complete community” in the mixed-use development.

St. Luke’s currently has two hospitals located in Quezon City and Taguig City and an extension clinic in Manila City. The two hospitals have a total of 1,146 rooms, where annual in-patient admissions average 60,321 and outpatient consultations is about 2.7 million.

St. Luke’s President and Chief Executive Officer Arturo S. Dela Peña said the company is looking to expand the scale of its operations further as it sees a “compelling opportunity… to respond to our customers’ needs.”

“Aseana City not only offers the right location to capture the robust health care growth in the country and South East Asia, it also takes a holistic approach throughout its master plan, while setting standards for sustainability,” he was quoted in the statement as saying.

“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,” he added.

Shares in listed DMW closed flat on Tuesday at P9.15 each. — Denise A. Valdez