C Estates Inc is aiming to become a “revolutionary” leader of the real estate market in the Philippines using its blockchain-based tokenized platform to enable convenient transactions for the real estate sector.
Teru Sumida, CEO of C Estates Inc, was quoted in a report by the Manila Bulletin saying the firm was inspired by the desire to replace the time-consuming real estate process in the Philippines. C Estates was developed as an alternative method for selling and purchasing real estate, with companies and investors expected to benefit from the platform.
Before heading C Estates, Sumida worked for property management and consulting company Capitarise Corporation in 2009. The firm handles Japan-Philippines cross-border transactions and offers services for retired foreign investors to acquire property in the Philippines, boasting over 2,500 properties sold through the program in just 5 years of its operation.
According to Business World Online, SMEs in the Philippines have been investing more in digital innovations and slowly driving up local demand for blockchain technology.
Ernst & Young Global Ltd released a report suggesting the Philippines is only second to Vietnam in terms of highest net positive score (NPS) among Southeast Asian nations in 2020, coming in at 93.3% compared to Vietnam’s rating of 94%. Meanwhile, other ASEAN countries have been rated at 86%.
Among modern technologies, tokenization and blockchain have emerged as key investment points for SMEs in ASEAN countries. Through the use of C Estates, businesses can ensure the best selections for buyers from different property owners without the need for physical contact.
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