Sustainable Real Estate Development – The Urgency Of Building More ‘Green’
Going ‘green’ and implementing ‘sustainability’ is no longer just a mere buzzword. Creating a space for the green premium is more than just about an ever-increasing self-value with the return of sustainability in land development and property management in the Philippines and across the globe. The world is reaching an urgent tipping point with the usurpation of global warming and climate change. Some even forecast that human society itself will collapse under the weight of its undoing in disrupting the global ecosystem.
Real Estate/Land Development – The Urgency to Sustainability
The issue that we are facing in the ecosystem function due to stressors brought by pollution and harmful emissions has now challenged the global economy in a rapid transition to a safer climate future. The carbon budget is running out, and the devastating, catastrophic impact of the drastic climate change is a rational fear that is about to occur in a matter of critical time.
The climate narrative continues to be more prominent amidst the pandemic. It’s no longer surprising to see the urgency in every property developer in the Philippines and (in other countries) to turn their heads in implementing greener and more sustainable infrastructure for the public.
At least 40% of emissions are coming from real estate, according to Forbes. 11% of the emission came from manufacturing materials for building, and the rest from the infrastructure (generated energy) itself. Nonetheless, local real estate firms and property management services in the Philippines are pushing for more green buildings.
Greener infrastructure is more than just a mainstream, and real estate developer and stakeholders are recognising the potentiality of taking the path of sustainable buildings. The trend remains relevant enough for investors and occupiers to cooperate in realising a sustainable goal while considering the increase of rentals along the premium in line with having a sustainable living space for tenants.
Real Estate & Urban Pollution
Apart from the statistical reports shown above, the real estate industry does impact the environment. The critical factor lies in the urbanised areas and in the construction sector. Living in highly-populated urbanised areas often creates tons of waste and emits air pollution via greenhouse/carbon emissions from appliances for everyday use. It’s not surprising to see why a real estate developer in the Philippines would invest in eco-friendly infrastructural home designs and sustainable materials.
On the other hand, the construction department also does contribute to damaging the environment. However, we can only base and measure it on the construction method, the process and the materials involved in building. Unlike in urbanised areas where the emission remains at a constant level through fluctuation may differ depending on the frequency of using home appliances and the level of carbon it emits per day.
The construction and demolition entail an enormous amount of waste from various materials involved in the process, from steel to concrete and asphalt. Physical waste often discarded in incinerators and landfills cause land and air pollution, even without emitting gas emissions. The sustainable action from every property developer would be to decrease the use of non-sustainable and non-recyclable materials in the building project.
The burning of fuels and powering infrastructures is one of the primary contributors to air pollutants. In some areas with high air pollutants, residents would need to maintain wearing masks and invest in air purifier units. The toxic particles emitted from factories and automobiles can significantly impact our health.
The Primary Advantages Of Investing In Greener Buildings
Since numerous real estate developer companies globally are working for greener buildings to reduce the environmental impact, let’s understand the exact advantage it creates for a more ethical and sustainable approach to urban living. Apart from being eco-friendly by essence and design, here’s what makes it desirable for many to invest in:
Enhanced resource efficiency
Retrofitting establishments with the latest sustainable appliances and infrastructural design enable more efficient use and consumption of water and energy without emitting harmful levels of carbon/greenhouse gases. Residents can enjoy living their lifestyle with decreased operation costs and resource consumption, allowing for higher net operation income (NOI).
In today’s standards, owning and living in a sustainable property equates to reduced maintenance costs and a more prolonged lifespan for appliances. As we can see the cost of reduction is more than just in the aspect of per day operation. Tenants can also save more apart from every property management.
Green buildings and sustainable infrastructure can also impact our physical and mental health. Conventional buildings and constructions often use materials that contribute to pollution and carry harmful side-effects on human health. With greener parks, highways and buildings residents can enjoy a sustainable lifestyle with less stress and a much better quality of life, which is what every real estate developer company is aiming for.
Real estate construction is often responsible for physical waste pollution. As we have mentioned earlier, demolition debris and material manufacture are harmful to the environment. However, sustainable construction allows the industry to solve the problem and provide a cleaner and greener option for building purposes. It helps reduce the impact of physical waste and manufacturing pollution, especially for discarding materials in landfills. Sustainable materials are often recyclable.
Protection for environment
Recycled materials in the building process protect the environment by reducing the use and need for harmful elements from insulated air conditioning and walls. Using efficient and greener energy also minimises the emission of greenhouse/carbon. Hence most property management firms are pushing for more sustainable building designs and materials.
If you are looking for LEED office buildings, visit Arthaland for more info about a property developer company in the Philippines.