D.M. Wenceslao chair dies at 77

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Courtesy: D.M. Wenceslao & Associates Inc. website

Metro Manila (CNN Philippines, September 17) — Listed property developer D.M. Wenceslao & Associates Inc.'s chairman Delfin Wenceslao, Jr. has died, the company announced on Friday. He was 77.

"It is with great sadness that the board of directors and management of D.M. Wenceslao & Associates, Incorporated announce that today, it was informed of the death of its President and Chairman of the Board, Mr. Delfin J. Wenceslao, Jr.," the firm said in a disclosure to the stock exchange.

No other details were provided.

The company also posted on social media to pay their respects to Wenceslao. 

The construction tycoon ranked 37th richest man in the Philippines according to the latest list of Forbes - with an estimated net worth of $385 million.

DMWAI specializes in land reclamation projects. It is also engaged in real estate, rentals, and construction and sale of condominium units.