Manila-based developer to enter Cebu in 2024

CEBU, Philippines —  Sensing the promising real estate industry in Cebu, another Manila-based developer is making its first entry to Cebu.

In an interview with WeeComm chief operating officer (COO) Carson Choa, he said the company is set to introduce the brand by next year in Cebu.

“Part of our growth strategy is to enter Cebu. It is one of our main targets for 2024,” added Choa.

Despite the presence of big and branded developers in Cebu, Choa expressed confidence of the company’s growth potential saying “the accelerated infrastructure development has also unlocked real estate values across the province.”

As part of their debut project, Weecom plans to develop both vertical and horizontal developments.

According to Choa, WeeComm has a prepared six to eight properties up for development in Cebu. These are mostly joint venture agreements with landowners.

Known for building middle-range residential properties, WeeComm is set to develop a 47- hectare property in the northern part pf Cebu in Consolacion.

Currently, Choa said his team is studying the Consolacion property terrain, “because it is relatively high ground.”

“We are checking how many percent of the 47 hectares we can develop but maybe it would be around 25 to 30 hectares that can be considered a developable area,” Choa explained adding that with this calculation, the company pour in about P250 million investment.

Likewise, the company is also working on finishing the details of its vertical development.

He mentioned the development of GT Times Square Cebu in Fuente Osmeña, where the company has joint venture deal with the Cebuano developer.

“Cebu is hyper-competitive. Even if Cebu is considered a regional development, it is now close to how Metro Manila developments go because property values are equally the same or sometimes higher than in Manila,” he added.

He however, admitted that the company is very careful about the discrepancy between the land value versus how much condos are being priced.

“If we embark on a project, it should be a perfect blend of finding the right property with reasonable value so that when you put up a development it is a more inclusive development,” he continued.

Wee Comm has grown to be a developer that builds mid-cost projects. “We want our middle-income earners to enjoy the developments that we do.”

Among WeeComm’s projects are The First Baron Residences, The Baron’s Place, The Baron Gardens, and Baron Tower in San Juan, as well as Centro Residences, and Centro Tower in Quezon City.

Recently, WeeComm also made its presence in Mindanao.