Green certification is becoming a high priority for businesses interested in investing in Philippine real estate.
With the presence of climate change causing typhoons and intense heat all over the world, property advisory and consultancy firm CB Richard Ellis Philippines (CBRE Philippines) is seeing an upward trend in the popularity of “green” or sustainable developments as an investment opportunity.
“Green buildings attract more BPOs and multinational companies. Investing in long-term sustainability means reaping the benefits for the longer term,” CBRE Philippines CEO Rick Santos explained.
The practice of creating energy-efficient homes and commercial buildings is so widespread, in fact, that it has led to the development of standards that measure the sustainability of these structures. The US Green Building Council (USGBC) developed the Leadership in Energy and Environmental Design (LEED) assessment tool in evaluating the environmental design and performance of new and existing commercial and residential developments. LEED awards various levels of approval – Certified, Silver, Gold, and Platinum – depending on the number of points earned based on several credit categories.
Here in the Philippines, there are currently nine LEED-certified buildings. The Platinum-certified Zuellig Building, for one, boasts of a high occupancy rate as more and more investors prioritize sustainability as an important factor of building value.
Other structures with LEED status are the Sun Life Centre, the ADB Headquarters, and the Mind Museum with Gold, One Evotech and Texas Instruments with Silver; and Project Jade, Starbucks 32nd and 7th, and Nobel Plaza with Certified.
“Going ‘green’ is more than just a trend. It’s a must for long-term sustainability,” Santos added.