PHILIPPINE businesses have joined the bandwagon for certification by the United States’ Leadership in Energy & Environmental Design (LEED), which has a set of standards for new and existing buildings, in their desire to help in the effort to effectively meet climate change.
Dean Barone, president of Barone International Inc., reported the forming line for LEED certification and said the applicants include Zuellig’s in Makati City, Aegis People Support in Cebu, the Ayala Corp. Nuvali Evotech One in Laguna, and The Mind Museum, One Campus Plaza, and Sun Life Center all in the privatized Fort Bonifacio Global City in Taguig.
Others that submitted LEED certification checklist to the US Green Building Council include the Asian Development Bank for their headquarters in Manila, SM Development Corp. for its Aria building project, the Centennial Hotel in Baguio City, the Arya Residential Towers for its Shangri-La at the Fort, and Makati Place in Makati.
According to Barone, a 100,000-square-foot LEED building saves $1.50/square foot in energy costs or $150,000 annually so that an owner who invests $400,000 in green technology and standards to get the $1.50/square foot energy savings gets a $4/square foot premium with the investment payback in about 29 months.
“Commercial real-estate properties are valued as a multiple of ‘net operating income’, or dividing the income by the capitalization rate by roughly 6 percent. If the building reduced its annual energy costs by $150,000, the capitalized rate of 6 percent would result in an incremental increase of property value of $2.5 million or return on investment of 625 percent,” said Barone in his presentation on Thursday.
He added the value of the LEED project when completed would increase from $27.5 million to $30 million. “If the building owner or developer decided to sell their LEED building, it is the norm for green buildings to command 30-percent premium price over similar non-LEED buildings.” –Dennis D. Estopace / Reporter, Businessmirror
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of Forced Labour and Freedom of Association protocols.
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