When Cesar L. Wee, Jr. stepped away from his family’s successful business to start his own property development company, he needed to find a bank that was willing to give him the funding necessary to turn his real estate dreams into reality. “Fortunately, there was one bank that took a risk in my start-up company and that was Security Bank. They didn’t just see me as a young kid that just wanted to develop property or borrow money,” Wee shared.
In 2008, the first-time developer launched Wee Community Developers Inc. (WeeComm) with the support of Security Bank, which provided a loan facility for Wee’s first ever project. This enabled WeeComm to break ground on its first development: First Baron Residences (Baron 1), a seven-story residential condominium in San Juan.
“Security Bank has been there since day one. They saw some potential in me, in my company, in what I was doing. Basically, they believed in me,” said Wee. “Because of Security Bank, it opened a lot of doors and helped me fulfil my dream as a developer.”
Eventually, that first building led to the developer’s Baron series which is known for its high-end finishes, mid-rise structures, and low-density occupancy.
Finding the right partner in Security Bank was integral to the growth and success of WeeComm. In three years’ time, Wee built three additional properties: The Baron’s Place (Baron 2) in 2010; The Baron 3 Gardens (Baron 3) in 2012; and Centro Residences in 2013. By 2015, WeeComm diversified to high-rise condominiums with the Centro and Baron Towers and subdivision development with the Emerald Estate in Iloilo and Diamond Heights in Davao. From meager PHP31.6 million in 2008, sales soared to PHP 9.5 billion in 2023.
Today, WeeComm has built over 11,000 residential units across 27 completed and upcoming properties in Luzon, Visayas, and Mindanao. Recent and ongoing projects supported by Security Bank are Harbour Park Residences in Mandaluyong, Baron Luxe in San Juan, Emerald Estate (Phase 2) and Southprime Flats in Iloilo. From the San Juan area, WeeComm now develops nationwide—particularly in Davao, Iloilo, Cagayan De Oro, Mandaluyong, Quezon City, Cainta, and soon Bacolod and Cebu.
To help manage its financial operations and transactions, WeeComm utilizes various Security Bank cash management system products such as Digibanker, Check Write Facility, and PDC Warehousing, to name a few.
“The nice thing about Security Bank is the relationship I have with them. The way they understood my needs, studied what I did, my background, and what I was really trying to do… Security Bank saw me differently. They saw the potential in my business,” said Wee.
To know more, visit Security Bank’s website at https://www.securitybank.com/business/loans.