The real estate sector is one of the most bullish industries in the country today. It is heading and gearing up towards property projects that are innovative and sustainable to create a greener future of the Philippines’ property landscape. This is also in line with the growing demand of property buyers and seekers who want to live in homes and communities that transcend comfort and aesthetics.

While innovation and green development aren’t exactly a priority among property developers in the last decade or so, the threat of climate change and global warming has spurred an increasing demand for residential property projects, such as townships and mixed-use condo buildings, to become LEED (Leadership in Energy and Environment Design)-certified. This has prompted real estate developers to become more innovative with their projects by anchoring them on sustainability efforts that emphasize urban mobility and creating more open and green spaces.

Walkable and Bike-Friendly

Metro Manila cities like Makati, considered as the country’s financial hub, have embarked on infrastructure projects such as the widening of sidewalks to improve the mobility of residents in these areas and make property developments more walkable. This initiative not only decongest Metro Manila’s unending traffic nightmare but also makes  and visitors in those areas become healthier. Other cities have also been keen in creating bike lanes to encourage others to ride their bikes instead and ditch their vehicles. Although a small number of people prefer to pedal their way to work, many are afraid to do so even if they would want to due to safety concerns from motorists and the lack of facilities, such as shower areas in office buildings, that would allow them to arrive in their workplaces in comfort and convenience.

With the threat of climate change and global warming, and the growing demand from property seekers and buyers, more and more real estate companies are adopting environment-friendly approaches in developing commercial, residential, and industrial properties. A study conducted by Jones Lang Lasalle in 2017 found out that at least 245 LEED activities have already been initiated, with 61 projects having already obtained certification. The Zuellig Building in Makati, for instance, is the first in the country to be Platinum-certified.

Aside from LEED, the Philippine Green Building Council also established a domestic rating system known as the Building for Ecologically Responsive Design Excellence or BERDE. The Department of Public Works and Highways also implemented the Green Building Code since mid-2015 to encourage developers to adopt more sustainable approaches in real estate development.

Cost-efficient in the Long Run

While the cost of implementing green measures on property development projects are higher, in the long run they are actually more cost efficient. According to the Jones Lang Lasalle Project and Development Services team, developers need to shell out 15 percent to 20 percent more for their total property development project costs. That’s one of the reasons why residential units or office spaces in buildings or townships that are LEED-certified come at a premium. But for a growing number of property seekers and buyers, it’s a small price to pay for the good of the environment and makes a wise investment decision in the long run.

While the Philippines might still be lagging behind its Southeast Asian neighbors in the environment front, innovation and sustainability initiatives are rapidly gaining momentum among property development players and other stakeholders to create cities and communities that future generations are bound to enjoy.

The Outlook Conference 2019

Lamudi, the country’s foremost and pioneering property portal, will be recognizing property developers who have taken steps toward creating projects that are environment-friendly and promote sustainability during its signature event this year – The Outlook by Lamudi, which gathers different stakeholders from the Philippine real estate sector.

Those who would be recognized will be selected by an esteemed panel of judges and based on a survey participation of 10,000 active property seekers. With technology and data becoming important tools in the industry’s arsenal, Lamudi is in a prominent position to change the traditional ways of property searching.

With an average of 2.8 million monthly visitors last 2018 and hosting over 100,000 active properties, Lamudi is at an advantage to understand the needs and wants of the Filipino property seeker.

Philippine real estate developers nominate their prominent projects under various categories.

The shortlisted projects are put to the test via a survey among thousands of property seekers. Participating property seekers are grouped in a way that will ensure that audience groups will only vote in the categories that match their search interests. The Special and Personality Awards nominations are screened only by the judges.

In addition to awarding the real estate excellence of the year, the gala hosts keynote speakers from the industry, offering an unparalleled opportunity for discussion and knowledge sharing.

The Outlook by Lamudi is an annual coming together of the most prominent professionals in Philippine real estate.