SAN FRANCISCO — A Filipino web platform originating from Dubai is trying to cash in on the huge number of idle expatriate-owned properties in the Philippines by facilitating their rental or sale.
The site, tarakabayan.com, (Tagalog for “come, fellow countryman”) allows everything from a small “bahay kubo” (nipa hut), car, apartment unit, beachfront property, boat or farm to be shared by anyone anywhere in the world, reports Gulf News.
Dennis Belgrado, founder and CEO of tarakabayan, worked for a Silicon Valley company that produces high-accuracy global navigation systems. He chose Dubai as launching pad instead of Manila because of Dubai’s links to world-class application development pool.
Tarakabayan apps, though still in “beta” versions, are now also available for download on both iOS and Adroid mobile platforms, according to Belgrado.
Tens of thousands of Filipinos overseas have bought property in the Philippines that are left idle for most of the year due to lack of access to marketing and management outfits. Tarakabayan will get a commission on rental or sales deals transacted through it.
The company is in the process of setting up shop in Manila following registration with the Securities and Exchange Commission (SEC), Belgrado said.
The platform is linked to Paypal’s payment gateway and eventually with DragonPay, which allows over-the-counter-payment at Bayad (Pay) Centers at SM and Robinsons, the Philippines’ biggest mall operators.
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