Taguig City: A new online platform designed to aid overseas Filipino workers (OFWs) in investing in Philippine real estate has gained substantial backing from key government agencies, including the Department of Migrant Workers (DMW), Department of Trade and Industry (DTI), Department of Science and Technology, and the Commission on Filipinos Overseas.
According to Philippines News Agency, Talino Venture Studios and Rizal Commercial Banking Corp. (RCBC) launched Bahai Deals in Taguig City, an artificial intelligence-powered, end-to-end marketplace that streamlines the process of purchasing residential properties. The platform connects global Filipinos to property listings, financing options, and secured sales processing, all consolidated into a single platform.
"We want to simplify the home buying process. We want to market Philippine properties as the most reliable investment to make, especially if you're Filipino," DMW Secretary Hans Leo Cacdac stated during the launch. He emphasized the significance of ensuring that Filipinos have the opportunity to invest back home, particularly in North America, where property prices are high. Cacdac praised Bahai Deals for making property investments more accessible and transparent, thereby safeguarding OFW incomes.
In the same event, DTI Secretary Ma. Cristina Roque reiterated her support, emphasizing the importance of embracing digital innovation. "Digitalization and AI is the main priority of our President (Ferdinand R. Marcos Jr.)," she remarked. Roque proposed that RCBC consider expanding financial support to OFWs through franchising loans, suggesting this could facilitate their return to the Philippines with sustainable livelihood options.
RCBC, which powers the mortgage side of Bahai Deals, expressed enthusiasm for the collaboration. "RCBC is excited to collaborate with Talino through Bahai Deals, enabling global Filipinos to access seamless, secure, and affordable home loan solutions wherever they are in the world," RCBC executive vice president Lito Villanueva said.
Talino president and chief executive officer Winston Damarillo announced plans for a roadshow in North America over the next two months, with an initial focus on overseas Filipinos in North America. Talino's market study indicates that 31 percent of Filipinos in the US aspire to return to the Philippines in the future. These OFWs in the US have an average annual income of USD115,509, allowing them to purchase residential properties in the Philippines valued between PHP5 million to PHP12 million.
