The new Green Building Code as proposed by DPWH seeks to regulate building construction in the country to support a more eco-friendly environment. Under this new regulation, developers will be required to build properties with eco-friendly features before they are issued with a building permit. These features will include energy-saving and water-saving components as well as materials that reduce greenhouse gas emissions.
"It's about time that we have this new green building policy," said Arch. Romolo V. Nati, ITPI's executive chairman and CEO. "We always believe that developers should design buildings that complement the environment rather than against it. That is why our projects are built around this idea. Developing projects that are environmentally sound helps create a more sustainable, livable, and healthier community," he added.
Although the new Green Building Code initially targets properties with large floor areas, DPWH eventually aims to implement the rule to all properties. However, this does not replace the existing National Building Code. Rather, it will be included as additional reference.
According to real estate experts and appraisers, green properties have higher appreciation value compared with conventional buildings. This is due to their long-term benefits such as energy savings, reduced water consumption, reduced water bills, and increased health and well-being of occupants.
"Primavera Residences, our development project in Cagayan de Oro, has a high yearly appreciation of 10% so it's a wise investment for condo buyers," shared Nati. He also encouraged other property buyers looking to invest in Cagayan de Oro to think thoroughly before making any purchasing decisions.
"Investing in a property, particularly in Cagayan de Oro, requires careful planning. You cannot think only of your immediate need of having a place of your own. You also have to think about other important factors such as sustainability of your property in the long run, its market value, efficiency and security. Will your property be still in good condition after twenty years? Can it withstand strong calamities such as earthquakes and typhoons? These are just some of the factors that you have to consider before buying a property," he explained.
As the draft of the new Green Building Code is being readied later this year, ITPI hopes that this will pave the way for other developers in the country to adapt these green efforts.
ITPI is a Filipino-Italian green property developer that focuses on designing and building sustainable projects in secondary cities in the Philippines. Its initial project, Primavera Residences, is an award-winning property in Cagayan de Oro that recently won in the 2014-2015 Asia Pacific Property Awards held in Kuala Lumpur for Best Mixed-Use Development in the Philippines.
To learn more about ITPI and its projects, visit the website at: www.italpinas.com.