MANILA – Real estate firm DM Wenceslao employs an “adjust and adopt” strategy to ensure continuity of projects despite potential delays due to the COVID-19 pandemic, its CEO said Friday.
Construction workers may be given “barracks” or living quarters near project sites so they won’t have to go out of Metro Manila during the 1-month long community quarantine, DM Wenceslao CEO Buds Wenceslao said in an exclusive interview with Cathy Yang for ANC’s The Boss.
Lesser work days but with longer work hours are also being considered as what have been suggested by the labor department, he said.
“These are new times and we want to make sure we remain flexible to be able to meet our target. So these are things that are currently on the table,” he said.
"There are already options available to make sure that we can continue business especially as we're developing a lot of our future pipeline and our developments within the area," he added.
Although the company hasn’t seen "that much negative effect” due to the COVID-19, it is already preparing its “contingency" plans in case the pandemic disrupts the supply chain, he said.
“So far we haven’t seen that much negative effects in terms of delays and slippages in the construction...We can expect that there might be some reason or cause for delay but we’re also making sure that we have contingencies in place to match those delays,” Wenceslao said.
So far, supplies for glass, aluminum, steel are still complete and that all big projects are on-going.
DM Wenceslao is currently working on a next generation city in the Manila Bay area, where it plans to put up a mixed-use masterplan that will cater to all lifestyles, he said.
The listed company is “on track” to building 400,000 square meters of gross floor area, two-thirds of which are allocated for recurring income or office and retail, Wenceslao said.