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January 18, 2016

Italpinas to increase property sales prospects with green certification

Mixed-use development is becoming an increasingly integral part of new hotel development, but a recent slowdown in residential sales could lead to changes. Andrea Ashfield reports.

Philippines-based Italpinas Development intends to secure green-building certification from International Finance (IFC) for all its real estate developments.

IFC operates under the World Bank and allows certification, including that for Excellence in Design for Greater Efficiencies (EDGE).

The developer has also secured the EDGE certification for the Primavera Residences in Cagayan de Oro city in Philippines, which is the second one in the country to have received the approval, reports Business World.

Primavera Residences is a ten storey, twin-tower, mixed-use project developed in the southern parts of the country.

"With this framework available to us, we can show end users that this is what we mean when we’re green."

The towers have been designed to feature solar panels on their rood deck, which facilitates renewable energy generation and can reduce overall energy consumption.

The firm intends to secure EDGE certification for its Primavera City project in Cagayan de Oro and Miramonti in Sto. Tomas, Batangas.

The green certification is expected to increase its foothold in the real estate market and can lead to better sales prospects for the properties.

Italpinas President Jose D. Leviste III was quoted by Business World as saying: "The marketplace has become more and more noisy because it’s very easy to say that a project is green or environment friendly.

"With this framework available to us, we can show end users that this is what we mean when we’re green."

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