The emergence of green building certifications will expand the greening of the Philippine property sector and offer a lot of opportunities, according to property management consulting company Colliers Philippines.
According to the Global Green Growth Institute, green growth promotes sustainability for environmental protection and remediation, while at the same time promoting employment, improvements in social equity, and other related objectives.
Colliers said applying green building standards immediately promotes a safe environment, improved health and well-being, and addressing the environmental impacts of real-estate development. It noted that both commercial and residential buildings and project owners can immediately enjoy utility cost savings, reduced maintenance fees from sustainably sourced materials, higher-valued assets in the long term, and reduced overall greenhouse gas (GHG) emissions.
Further, Colliers noted green buildings usually draw the interest of conglomerates that adopt sustainable business practices within the company’s Environmental, Social, and Governance (ESG) principles who are willing to pay a premium for green buildings compared to non-green buildings.
“There is an untapped green market in the provincial area, especially in the municipalities of Southern and Central Luzon, where demand for residential housing is stable. Project owners and planners must work collaboratively to find ways of adopting green building strategies into residential developments and create an offering to the applicable market segment,” Colliers said.
Partnership for sustainability
Since the year 2007, Costa Del Hamilo Inc. (CDHI), developer of Hamilo Coast and World Wide Fund for Nature Philippines (WWF) have been active in promoting sustainability on key areas for sustainability—coastal resource management, ridge-to-reef management, solid waste management, mangrove reforestation, the use of renewable energy sources, and environmental awareness.
Franklin M. Bolalin, CDHI Assistant Vice President for Estate Management and Operations said Hamilo Coast has declared three of its coves—namely Pico de Loro, Etayo and Santelmo—as Marine Protected Areas (MPA). He pointed out the move will further safeguard ecosystems for marine life; protect threatened and endangered species and preserve their habitats; and cultivate marine resources, among others.
He said Hamilo Coast walked the talk as it manifested its readiness to take care of Olive Ridley Sea turtles that has made the development its nesting ground. Olive Ridley Sea turtles, so- called for their olive-green color, are known for their heart-shaped shells and are considered to be among the world’s smallest sea turtles.The females of the species return to the same beach they hatched on to spawn or lay their own eggs, and bury them in sand nests to incubate for 45 to 72 days.
To keep these eggs safe and undisturbed, Bolalin said Hamilo Coast estate personnel installed nest cages and monitored these regularly, following the guidelines of WWF. With nest cages protecting the eggs from predators, he said their chances for survival significantly rose. In just a few weeks, these eggs will crack, and hatchlings will emerge within three to seven days to reach the surface and race towards the ocean.
Bolalin stressed that, “protecting the turtles is just one of several measures we take to make Hamilo Coast a safe haven, not just for its residents and guests but also for marine wildlife.”
Bolalin likewise affirms that, after all, a majestic and sustainable sanctuary has always been part of Costa del Hamilo’s vision for Hamilo Coast.
Just recently, he said turtle hatchlings were released to the ocean by the SM Leisure Resort Residences team in Pico de Loro Cove. New nest cages were also installed in Santelmo Cove, awaiting the hatchlings’ emergence in the weeks to come. A total of 56 Olive Ridley Sea Turtles have been released as of mid-November 2022 in Hamilo Coast.
Protecting the Olive Ridley Sea turtles is just one of CDHI’s ways of establishing sustainable practices. He said the partnership between WWF and CDHI has been expanding and enhancing the scope of its sustainability program as part of a long-term strategic framework in the Hamilo Coast development.
Hamilo Coast is a recipient of the Longest Sustainability Partner award from the World Wide Fund (WWF) for Nature Philippines. “Our sustainability efforts, in partnership with WWF, have created a positive impact in the Philippine tourism industry,” Bolalin relates. “We hope to continue encouraging seaside developments in the country to prioritize the conservation and protection of our beautiful marine resources.”