Delfin J. Wenceslao Jr., a controlling shareholder of Philippine-listed real estate developer DM Wenceslao & Associates, died at the age of 77.
“It’s very sad that DM Wenceslao & Associates’ board and management have announced that they have been informed about the death of Delfin Wenceslao Jr., president and chairman of the board,” the company submitted on Friday. Philippine Stock Exchange. The company did not provide any other details.
Delfin Sr in 1965. Founded by DMWenceslao, it has become known for its landfill expertise. According to the company’s website, one of the largest projects is ASEAN City, a 204-hectare (2 million square meters) mixed-use commercial and residential project along the coastline of Manila Bay.
Delfin Jr. who released the company in 2018. Has a degree in economics from Ateneo de Manila University and an MBA degree from the University of Manila. He was keen to join the army, but his father, a military engineer, persuaded him to pursue a more peaceful career in construction.
With net worth of $ 385 million, it was ranked 37th in the list of the 50 wealthiest companies in the Philippines released earlier this month. He survived by his wife Sylvia and his four sons. And they are all involved in the business. Their youngest child, Delphin Angelo, is the CEO of the company, and his other son, Paolo Vincent, is the Chief Operating Officer.