MANILA - DM Wenceslao and Associates Inc and Landers on Tuesday signed a lease for a membership shopping chain outlet in Aseana City, the property developer said.
The contract of lease with Landers is for a 15,064 square meter parcel of land in Aseana City with a lease term of 25 years, DW Wenceslao said in a disclosure to the stock exchange.
“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,” DM Wenceslao CEO Delfin Angelo Wenceslao said.
“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,” he added.
Landers Superstores has several branches in Metro Manila and Cebu.
Aseana City is a business development of DM Wenceslao along the Manila Bay.