Investing in technology that is geared towards sustainability and resilience will be the standard for commercial and residential properties, moving forward. In fact, the United Nations has prepared a roadmap to towards sustainability until the year 2030. This report covers multiple areas of the society — from governance, the economy, and urban planning and design. Recent global events have also raised the discussion of pushing for green real estate and technology to promote the health and general wellbeing of communities around the world.
Sustainability in real estate has long been a standing movement in the industry. More awareness and campaigns have been made to encourage the shift towards sustainability as the United Nations Environment Programme reported that the building sector has the potential to make energy savings of 50% or more in 2050. The US Energy Information Administration also supported this claim as the organization reported that this increased demand for energy was driven by residential and commercial establishments.
According to a 2018 report, real estate can be a powerful driver for corporate sustainability and for making the Sustainable Development Goals a reality.
The discourse on the importance of uplifting the health and wellness of building occupants was also raised as the world combats the COVID-19 pandemic. Various workplace protocols and guidelines were modified and implemented to protect the safety of public and common spaces, including the workplace. Buildings are also optimizing their technology and design to prevent another health crisis in the future.
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In the Philippines, green real estate is starting to become the new standard in the residential and commercial sector. According to the Urban Land Institute (ULI), green markets tend to thrive in developing economies, and the Philippines is now transitioning into a culture that advocates sustainable design and technologies.
The Building Owners and Managers Association of the Philippines noted that the government are also starting to create policies that will benefit the green movement in real estate. Eduardo Manahan, the organization’s chairman said that the country is on the road to building greener and smarter communities.
“We have a law pending in Congress about green building, and we are also in the process of approving the revision of the National Building Code,” Manahan said in a 2018 interview. “Once approved, everybody should follow, and the buildings should be compliant with these things,” he added.
The shift towards more sustainable and greener developments will also make the country a more globally attractive investment destination for commerce and real estate. The Organization for Economic Cooperation and Development (OECD) has also released policy-making guidelines for countries to support green growth and development in different sectors.
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JEG Development Corporation is one of the frontrunners of sustainable real estate in Cebu and in the Philippines. It’s first high-rise commercial development, JEG Tower @ One Acacia is set to be one of the first premium green buildings within the Cebu Busines District.
“JEG Tower is one of a new crop of office developments in Cebu that are raising the standards of buildings in our city,” JDC Estate and Business Development Manager Stefan Garcia explains. “Our company has placed a lot of resources to build the best workspace in the city.”
From the building’s design to the construction processes, and operations, JEG Tower is energy efficient and environmentally friendly. It is also one of the first Leadership in Energy and Environmental Design (LEED)-certified structures. It is currently pre-certified at the Silver level for building design and construction (LEED BD+C). The Tower will also operationalize using less water and electrical power than many of the structures currently in the city’s central business district. It is expected to emit less in terms of dangerous greenhouse gases.
Want to learn more about Philippine Real Estate’s shift towards sustainability?
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