Proptech gains ground as developers streamline operations

DEVELOPERS are increasingly adopting digital tools to streamline inventory management and buyer transactions, according to property technology (proptech) firm Cloverly.tech.

“[Property developers] view technology not just as a competitive edge but as a necessity to move faster and operate more efficiently, so there’s an increasing pressure to shorten sales cycles, improve coordination, and equip both agents and decision makers with better tools,” Cloverly.tech Co-Founder Nico Espinosa said in a video interview.

Launched early this year, Cloverly is a mobile application that aims to bridge the digitalization gap among property developers, brokers, and buyers.

“There was a clear digitalization gap, especially in how sales and buyer onboarding are handled. So, we saw that the industry could grow and compete more effectively by using technology,” Mr. Espinosa said.

Cloverly streamlines the sales and reservation process for properties — from inventory management and unit reservations to buyer onboarding and document collection. Buyers may also receive updates and announcements via e-mail.

The company is seeking to onboard residential and horizontal developments nationwide into its platform.

“Imagine [Cloverly as] a control center for the property development team, and a portal for brokers, agents, and buyers,” Mr. Espinosa said. It also seeks to eliminate the hassle of siloed and paper-based requirements for property transactions.

Mr. Espinosa noted that the oversupply of condominium units in some parts of Metro Manila is pushing Cloverly to onboard properties outside the Philippine capital.

“Instead of just focusing on the market here in Manila, we also want to branch out and look for clients in Cebu, Davao, and all those places,” he added.

Data from property consultancy firm Colliers Philippines showed that about 30,500 ready-for-occupancy units remained unsold as of the second quarter. Of the total, 32% were in the lower middle-income segment. — Beatriz Marie D. Cruz