Fearless real estate revolution via PropTech
He described 2017 to 2019 as his ‘awakening period,’ a time when he realized the potential of integrating FinTech into property transactions, particularly for overseas clients. ‘Because back then, e-wallets were mainly used for standard transactions,’ he explained.
Combining FinTech and PropTech seeks to harness $33 to $36 billion remitted in property expenses, according to Mark David dela Cruz, chief executive officer of property technology firm RealHomes and financial technology company RePay.
Why fear technology? Face it!
Chief executive officer of property technology (PropTech) firm RealHomes and financial technology (FinTech) company RePay, Mark David dela Cruz boldly presents the face of the future through his innovative efforts in redefining real estate and promoting a sustainable approach to property management — an initiative that not only serves the Philippine market but has also captured the attention of the global PropTech industry.
Eyes on the future
Dela Cruz began his career as a documentation specialist for a top-notch property developer, where he served for 13 years and eventually rose to the position of assistant vice president in charge of sales and marketing. He never missed an opportunity to learn and sharpen his business skills. His knowledge of pre-selling property development, combined with his drive for improvement, shaped him into the entrepreneur he is today.
He described 2017 to 2019 as his “awakening period,” a time when he realized the potential of integrating FinTech into property transactions, particularly for overseas clients. “Because back then, e-wallets were mainly used for standard transactions,” he explained.
“As per the Bangko Sentral ng Pilipinas (BSP), if I’m not mistaken, last year, about 60 percent of money remittances were property-related expenditures. Imagine — we’re talking about 33 to 36 billion US dollars being remitted because of property expenses. That’s why I saw the potential to improve our real estate market by combining FinTech and PropTech,” he said during a recent episode of Daily Tribune’s online show Spotlight.
Dela Cruz believes that this model can pave the way for foreign investors to confidently purchase properties in the Philippines.
Two decades of experience in the real estate industry, led to Dela Cruz acquiring dual leadership in the property sector that reflects a mission to redefine the real estate consumer experience and position the country as a leader in digital property solution which he amply explained to Spotlight host Chingkee Mangcucang (right).
Photographs by Alvin Kasiban for Daily Tribune
Voice of the clients
Despite building his own name as a CEO, Dela Cruz still looks back on his past experiences and embraces them as his guiding principles in business.
“You really have to listen to your client,” he said. “The market is the market is the market. That means you have to understand its voice,” he emphasized.
He embodies the essence of a leader who listens, explaining that, “Whether you like it or not, you need to question your assumptions,” as PropTech was created primarily to enhance customer experience.
Dela Cruz identified five key groups for which RealHomes, in partnership with RePay, is developing its modules. The first is for property owners, followed by property brokers and agents. For property developers,
Dela Cruz explained that RealHomes has designed a module that allows them to present their available inventory directly to the market. He noted that many large developers still keep their listings “kind of hidden,” so this module represents a bold move toward transparency and a more customer-facing approach.
The fourth group is business owners connected to the property sector, for whom RealHomes is developing the “Realverse,” a platform combining augmented reality and 3D technology to showcase products online. Lastly, he described property clients, those looking to buy or rent, as one of RealHomes’ largest and most important user segments.
Foot forward in int’l market
Dela Cruz’s innovative leadership has earned him recognition on the international PropTech stage, as he has been invited to represent the Philippines at the Global PropTech Summit in Saudi Arabia this 26 to 27 October.
He proudly shares his optimism: “If there’s one good thing about the Philippines, it’s that we’re actually property-rich.”
As an innovator, he is thrilled to meet other global leaders and gather insights to apply in the Philippine market. He also hopes to connect with trailblazers who share his vision to “open borders for the Philippines in terms of opportunities.”
He expressed confidence that the summit could open new investment channels for the country, citing Mindanao as a promising market for Middle Eastern investors due to its large Muslim population. “Pretty much, I have to sell our country as a whole,” he said. “The goal is to impress.”
Dela Cruz’s confidence shines through, not only because of his business success but because it is deeply rooted in his perseverance and constant pursuit of improvement. From local innovation to the global stage, his efforts and faith in the Philippines’ potential for growth are already making an impact worth talking about.