Manila Developer Weecomm to Enter Cebu’s Real Estate Market with Mid-Income Projects

A leading Manila developer plans to enter the booming real estate industry in Cebu next year with projects that aim to appeal to the mid-income sector.

According to Carson Choa, Chief Operating Officer of Wee Community Developers, Incorporated (Weecomm), their initial project will be a horizontal development in Consolacion, Cebu.

The company is eager to make this project, its first in Cebu, a success.

“Cebu is very hyper-competitive. Even if it is considered as a regional development, it is actually closer to how Manila developments go because property values are equal if not sometimes higher than Manila,” said Choa.

The Consolacion project is a 47-hectare property. The company is planning to implement the project in phases and pour in an initial P250 million investment for its first phase.

Aside from the horizontal development, Weecom is also eyeing a vertical development or a condo for Cebu City.

Setting it apart from other developers, Choa said that Weecomm will see to it that their project will be inclusive.

“If we go to it, it is really a perfect blend of finding the right property with the reasonable value so that when you put up a development, it is a more inclusive development,” Choa explained

Choa said that Weecom’s primary market is “middle-income earners” and that the company specializes in producing mid-cost developments.

“In Cebu, we want to tap that mid-market. We will not go too high because that is not what our company is about.”

Their expansion in Cebu will also be joint venture projects with other local companies with 6 to 8 properties already eyed and the groundworks already initiated.

Weecom has been regarded in Manila to have produced the most affordable condominium projects. It has completed 6 towers in Manila and sold more than 4,000 housing units.

According to its website, it has achieved more than P11 Billion in reserve sales over the past four years.