According to JLL Philippines, a real estate services and consulting organization, more developers are constructing green buildings in response to the growing demand from tenants in the Philippines.
“The pandemic helped to increase the demand for green buildings, and this awareness must be augmented by government support through policies and incentives, as well as real estate firms adapting and promoting sustainability efforts among their clients,” said Joey Radovan, vice chairman at JLL Philippines.
A JLL Asia Pacific survey shows 40% of corporate occupiers in Asia Pacific have already embraced net-zero carbon emission targets, with another 40% planning to do so by 2025.
The survey showed that across Asia Pacific, society is shifting toward an emphasis on green and sustainable spaces in a bid to address the concerns on climate risk. Seven in 10 occupiers are willing to pay a premium to lease green buildings, validating the belief of about 72 percent of investors that green certifications – such as LEED (Leadership in Energy and Environmental Design) and BERDE (Building for Ecologically Responsive Design Excellence) – drive higher occupancy, higher rates, higher tenant retention, and overall higher value of assets.
JLL Philippines, according to its website, buys, builds, occupies and invests in a variety of assets including industrial, commercial, retail, residential and hotel real estate. From tech startups to global firms, its clients span industries including banking, energy, healthcare, law, life sciences, manufacturing and technology.