Real estate developers aim for green development

According to Pannir Chelvam, senior director of Keppel Land Vietnam, there are many different criteria for green development within the real estate sector. Among these are reducing energy and water consumption, minimising a project’s carbon footprint and environmental impact.

Real estate developers aim for sustainable development

“All of these criteria are having been applied in our projects in Vietnam, to ensure sustainable development in the real estate sector,” Chelvam said.

In the Sustainable Development Seminar themed “Green Strategy” held in Ho Chi Minh City on July 19, Palm City and Saigon Centre were held up as an example of a project applying green criteria in Vietnam.

The seminar was organised as part of the strategy “Developing Sustainable Real Estate”

The seminar was organised as part of the strategy “Developing Sustainable Real Estate”, along with a range of annual seminars and events to increase awareness for people on environmental protection, organised by Business Review, DKRS Vietnam and GreenViet.

According to a report released by the United Nations, the construction and development of real estate projects is one of the highest contributors to environmental problems. Across the world, construction accounts for one third of the total energy used, releasing a quarter of the total CO2 and consuming 12 per cent of the fresh water supply.

According to Tran Ngoc Chinh, chairman of the Vietnam Urban Development Association, real estate projects continually face challenges in harmonising between urban development and the protection of natural resources.

“The development in Sapa and Dalat are examples of a development strategy where the effects on the environment have not been considered,” Chinh said.

Sapa and Dalat have gone from peaceful, quiet cities to huge construction sites full of cranes, concrete and a mass of buildings.

‘Green building’ meanwhile is an inevitable trend that has been strongly developing both in the region and globally. It aims to achieving high efficiency in energy and material use, minimise negative impacts on the environment and limit risks to human health and the natural environment.

According to Pham Lam, general director of DKRA Vietnam, one of the three factors which property buyers consider when buying a property is the landscape around their projects. Two others are high security and facilities.

This factor is even more important for vacation properties. Green factors are presented in all aspects of the project such as a green environment, green landscape and green management.

To date, Vietnam has around 150 constructions and buildings which have being certified with green certifications.

According to Do Huu Nhat Quang, founder and director of GreenViet, the high fee, lack of support from the government and low awareness from developers are three major factors that hinder buildings in Vietnam from obtaining green certifications.