Eco-Friendly Developments Dominate 2013 Property Market

December 30, 2013 — If there is a year that the plight of the environment is made urgent, 2013 is one of them as Typhoon Yolanda ravaged parts of Visayas. This particular incident and past natural calamities have repercussions not only on our society in general but also in some sectors such as the property market. A lot of developments, whether they may be vertical or horizontal ones, are now highlighting the fact that they are ‘building green’. Suddenly, eco-friendly features are not mere “accessories”, they now become a selling point, even a plus factor.

When I attended the BEX (Build Eco Expo) in Singapore last September, developers (and allied industries) were all harping the fact that they are now practicing green. I have interviewed developers and majority of them were highlighting the “green” aspects of their developments, putting  in second or lower priority the “luxury” aspects of their projects. They would rather discuss how their buildings have rain catchment systems (to save water), air circulation vents (to cut down reliance on airconditioning), or window solar panels (to cut electricity consumption).

As for the horizontal developers, I have noticed that they are now pro-active in promoting green; from espousing recycling to installing LED streetlamps. The property sector of the Philippines is not left behind in all these “green rush”. In fact, I am delighted to report that our country’s efforts to green the local property sector were noticed by the international community.

In the speeches I heard, the speakers took note of “BERDE”, a green  building rating system developed by the Philippine Green Building Council (PHILGBC).

Like the LEED certification, BERDE is “used to measure, verify, and monitor the environmental performance of buildings that exceeds existing mandatory regulations and standards.”

Add to that, 2013 also saw the emergence of large-scale developments going the green path. The country’s top mall developer, SM and its property arm, SM Land, have continuously highlighted the green aspects of their developments. In fact, one of their biggest (and most high profile) malls that opened in 2013, SM Aura in Taguig, is hailed as an energy-efficient building.

In a release we received from SM Aura, it said that it “is committed to sustainable design and development, and reducing the structure’s carbon footprint through green architecture. The SM Engineering Design and Development team on design as well practiced sustainable operations.

Pollution and waste management systems are planned for maximum efficiency; a water treatment facility to recycle water for non-potable use is in place; and its green roof is designed to reduce the heat island effect in the structure.”

This is also the same case as mall developments from Robinsons Land (Robinsons Magnolia was certified as a green infrastructure by the Quezon City after it was found to have adhered to the stringent standards set under the city government’s Green Building Ordinance of 2009, which requires the design, construction or retrofitting of building, other structures and movable properties to meet minimum standards of a green infrastructure) and Shang Properties.

Of course, shopping convenience, world-class design, and accessibility are prime considerations, but green architecture is now becoming a must, something which future mall developments have to consider.

In 2013, green commercial and residential buildings were also on the rise. Like the Zuellig Building (at the intersection of Makati Avenue and Paseo de Roxas in Makati), which was awarded a Gold certification under the Leadership for Energy and Environmental Design (LEED) of the  U.S. Green Building Council, a lot of developments in the Fort Bonifactio, Makati and Ortigas have followed suit, applying for full LEED certifications for their projects.

Reputable developers who have decades of building experience have also joined the green bandwagon. DMCI Homes has its Lumiventt Design Technology to circulate air efficiently in their buildings; other developers such as Camella Homes, Federal Land, Filinvest, among others have green initiatives, from tree-planting activities to promoting green practices to their residents.

Even developers with one or two projects have stepped up their green efforts, starting with SOC Land, Geo-Estate, EGI, Nuvo Land, etc. This also has been gaining ground outside of Manila with Mindanao having its first green building soon in CDO.

These developers now realize that their responsibility does not end with providing just a roof or an office space; their responsibility goes further in ensuring that their developments will have as less carbon footprint as possible in order to mitigate the effects of climate change, which will in turn help prevent another typhoon of Yolanda’s scale from ravaging our country.