Park Hyatt Phu Quoc Residences certified as EDGE green building

Under International Finance Corporation (IFC), a member of the World Bank Group, the EDGE standard requires certain efficiencies in energy, water, and materials usage based on a local benchmark.

Specifically, according to the evaluation of the EDGE system, Park Hyatt Phu Quoc Residences achieved a 24 per cent efficiency in energy saving, 49 per cent in water, and 28 per cent in used construction materials. In addition, the project reduced its emissions to 5,086 tonnes of CO₂ per year.

Park Hyatt Phu Quoc Residences certified as EDGE green building

EDGE, which stands for Excellence in Design for Greater Efficiencies, is a standard of the IFC that includes a software system for optimising materials and protecting the environment from the design stage, combined with the expert evaluator stage.

Thereby, projects using resources efficiently will be certified with a global certificate. Moreover, EDGE provides green engineering solutions helping to reduce the investment of substantial finance. This certificate is recognised in many countries, including Vietnam.

Park Hyatt Phu Quoc Residences is the second of BIM Land’s luxury projects that have been awarded an EDGE certificate. In April 2021, InterContinental Residences Halong Bay project was also officially approved as a green building with an efficiency of saving 25 per cent energy, 30 per cent water, and 30 per cent construction materials, as well as reducing the emissions of 2,663 tonnes of CO₂ into the environment.

In the same month, BIM Land, a member of BIM Group, successfully issued $200 million in international listed bonds on the Singapore Stock Exchange with an interest rate of 7.38 per cent and a 5-year maturity. BIM Land was the first unlisted Vietnamese enterprise to issue not only bonds but also green bonds successfully in the international market.

This is the type of bond that the proceeds from issuance must be used to implement green and sustainable projects, being valuable to promote sustainable growth.

With the direction of constantly initiating innovation and applying science and technology, BIM Group pursues a green and circular economy in its four core business fields: tourism development; real estate investment; renewable energy; agriculture and food; and commercial services.

In 2021, BIM Group completed the model of a green economic complex including renewable energy and salt production in Ninh Thuan. This complex creates employment opportunities for more than 1,000 local people and contributes to reducing CO₂ emissions by 600,000 tonnes.