Filipino real estate mogul Delfin Wenceslao Jr. dies aged 77
Delfin J. Wenceslao Jr., the majority shareholder of Philippine listed real estate developer DM Wenceslao & Associates, has died at the age of 77.
“It is with great sadness that the Board of Directors and management of DM Wenceslao & Associates announce that they have been informed of the death of its Chairman and Chairman of the Board, Delfin Wenceslao Jr.” Philippine stock exchange. The company did not provide further details.
Founded by Delfin Sr. in 1965, DM Wenceslao has become known for its expertise in land reclamation. One of its biggest projects is Aseana City, a 204-hectare (2 million square meters) mixed-use commercial and residential project along the Manila Bay coastline, according to the company’s website.
Delfin Jr., who went public in 2018, had a degree in economics from Ateneo de Manila University and an MBA from the University of Manila. He wanted to enlist in the military, but his father, a military engineer, persuaded him to pursue a more peaceful career in construction.
With a net worth of $ 385 million, Delfin Jr. was ranked No.37 on the Philippines’ 50 richest list released earlier this month. He is survived by his wife Silvia and his four sons, all involved in the business. Their youngest son, Delfin Angelo, is the CEO of the company, while another son, Paolo Vincent, is the COO.