Philippines’ property sector has seen promising growth rate in 2015 – the year of the sheep. As the country’s economy continues to grow, property developers have capitalized on these opportunities to build more building projects such as townhouses and green buildings that cater to more market segments while also expanding beyond the capital’s region. According to the International Monetary Fund, it is estimated that Philippines’ economy had rose to 6 percent in 2015, and will continue to increase in the upcoming years.
The country last year witnessed the trend of green buildings in the office market, which is the integration of green or eco-friendly elements into buildings. In Manila, for instance, 22 buildings in Makati and Bonifacio Global City have either applied for an LEED certification – an assessment tool for sustainability in building performance and environmental design – or are already pre-certified.
According to KMC Mag Group managing director Michael McCullough, the green development trend have helped the urban centers become healthy and sustainable, and more importantly can benefit developers raise higher rental rates. Green buildings are able to provide a healthier workplace for employees and increase energy saving and cost-efficiency.
He also added that because green buildings use 25 percent less energy, this cuts down up to 19 percent of operational expenses. The return of investment will therefore increase of about 19.2 percent.
The list of benefits for green buildings make it more attractive to multinational companies that are increasingly looking for spaces that will reflect their sustainability commitments.
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