C Estates Inc. is eyeing the inclusion of everyone in real estate transactions through the use of its "pioneering" real estate tokenization platform. The company hopes to achieve this with the use of blockchain technology. Through the use of such technology, it aims to become a "revolutionary" market leader in the Philippine real estate market.
Manila Bulletin reported that CEO Teru Sumida said that the company was conceptualized as an answer to the tedious process of real estate in the Philippines. Sumida added that this idea was to make C Estates an alternative to the cumbersome buying and selling methods, benefitting the companies as well as the investors themselves.
Prior to his work with C Estates, Sumida was with Capitarise Corporation in 2009, a property management and consulting company.
The company was responsible for cross-border transactions between Japan and the Philippines. It has built its business to help foreign investors retire and own property in the Philippines. It has helped these investors through 2,500 properties sold in its first five years alone.
Blockchain technology is slowly coming to maturity in the Philippines. According to Business World Online, small and medium enterprises (SMEs) in the Philippines are looking to increase their investments in digital technologies.
They want to increase these exponentially by 202, according to a survey by Ernst & Young Global Ltd.
The report had the Philippines looking at an "optimistic" growth outlook for the next year. It comes in the only second to Vietnam for the highest net positive score (NPS) in the Southeast Asian region. The Philippines sits at 93.3% while Vietnam is rated at 94%.
Other Association of Southeast Nations (ASEAN) member-countries had NPS measurements that sat at 86%, with SMEs revenues expected to grow by 12.6% this year. The NPS result has been collected from 368 "senior decision-makers" in SMEs from the region, ranging from the Philippines, Vietnam, Indonesia, Singapore, Malaysia, and Thailand. They were asked about their expectations of growth, from 15-20%, in 2020.
Tokenization and blockchain technology stand in the core of technologies that these SMEs want to invest in. C Estates is already committed to creating a better version from an already working copy of the technology.
Through it, they can ensure buyers of the best selections from different property owners, even if the investors and the owners don't physically see eye-to-eye.
The Philippines is finally catching up to the rest of the world, which see blockchain as the eventual partner in the evolution of a once-cumbersome real estate market.
