'Green' Buildings in the Philippines
More multinational corporations that want to set up local headquarters in the Philippines look for eco-friendly skyscrapers. There is a mounting demand from the international business community, especially foreign investors, on local locators to offer more green buildings. An increasing number of Filipino building owners are retrofitting and upgrading existing buildings to improve energy efficiency and environmental performance.
Green growth is gaining momentum in developed and emerging economies like the Philippines. Green buildings reduce the strain on energy resources. A study by the United States of America-based commercial real estate services firm CBRE Global Network showed that while green building may entail more costs, the investment is recoverable in the long run through decreased operating costs, increased return on investment through higher tenant retention, and increased asset value.
Foreign investors prefer Leadership in Energy and Environment Design (LEED)-certified, or buildings designed following green-architecture principles, such as more natural light and ventilation, green roofs, green walls, rainwater harvesting facility, sky gardens, and skywalks to reduce elevator use. …