Firms locating their offices in the Philippines are now seeking for quality and more sustainable buildings, property advisory firm CBRE Philippines said.
CBRE Director Morgan McGilvary said demand in the office sector has upgraded as more locators eye for LEED (Leadership in Energy and Environmental Design) Certified buildings.
The demand for LEED buildings in the Philippines is now thriving, McGilvary said.
LEED certification, developed by US Green Building Council (USGBC), is used globally as an assessment tool for sustainability in environmental design and performance of buildings.
According to CBRE, the country now has 35 LEED Certified buildings — mostly concentrated in Metro Manila — including Zuellig building, Wells’ Fargo Center, BTTC Center, Sun Life Center, Pilipinas Shell Administration Building, Nuvali One Evotech, Shell Shared Services Center, and Forbes Media Tower.
CBRE said that developers outside Metro Manila were also following the trend because of the increasing demand for green buildings.
Pioneer House in Cagayan de Oro is the first LEED-certified building outside Metro Manila.
The property advisory firm also said that local government units (LGUs) were now recognizing the need for green buildings.
It cited the Green Building Ordinance in Mandaluyong City, which aims to improve the efficiency of buildings in using natural resources to cut green house gas emissions.
This and other continuous efforts from both the private and public sectors are seen to set higher building construction standards for real estate developers, CBRE said.
The supply for green buildings will continue to rise in response to the demand for landlords and tenants. And as more green building grace the skyline of the Philippines’ central business districts, the office sector will hopefully transform to being more sustainable in the coming years, it added. (PNA)