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Developers in Bangkok go green and reap the benefits

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A perspective of Parq, one of the buildings that applied for Leed certification. JLL/THE NATION

Developers in Bangkok go green and reap the benefits

Property developers in Bangkok concerned about the environment are investing in the “green architecture” of Leadership Energy and Environmental Design (Leed), says one of the principals at JLL, an international real estate consultancy company.

There are currently 1.26 million sqm of Leed office space in the Thai capital.

Dexter Norville, one of the bosses at JLL, said on Monday that 877,000sqm of that space – nearly 70 per cent – is managed by JLL.

Excluding owner-occupied offices, the Leed-certified gross floor area in Bangkok totals 630,000sqm, of which 577,000 (more than 90 per cent) is managed by JLL.

Leed is one of the world’s most popular green-building certification programs. Developed by the US Green Building Council (USGBC), it features rating systems for design, construction, operation and maintenance to help building owners and managers be environmentally responsible and use resources efficiently.

“While Leed certification generally focuses on the physical building and its impact on the environment, the Well Building Standards are a series of certifications by the International Well Building Institute that broadly assess the building’s contribution to the wellness of people who use it,” said Norville.

“Well certification is becoming increasingly popular among landlords and developers.”

JLL is management consultant on two projects pursuing Leed certification – One City Centre, a Grade A office development that is a Raimon Land-Mitsubishi Estate joint venture scheduled for completion in 2022, and One Bangkok, Thailand’s largest mixed-use development project, a joint venture between TCC Asset and Frasers Property Holdings.

One Bangkok is also seeking Well certification.

Norville says Leed buildings involve high-quality standards and must also achieve the operating goals for which they were built. Some also receive Leed Ebom (Existing Building Operation and Maintenance) certification, showing that the landlord and manager are committed to sustainability.

Chakrapan Pawangkarat, Norville’s fellow chief of Property and Asset Management at JLL, said landlords are increasingly aware that sustainable development offers a competitive advantage.

In fact, both landlords and occupiers benefit from being recognised for their commitment to social responsibility and cost-savings through more efficient energy consumption.

A growing number of developments incorporate green features to obtain certification from reliable programmes such as Leed by the USGBC and the Thai Rating of Energy and Environmental Sustainability, which was established by the Thai Green Building Institute in collaboration between the Association of Siamese Architects and the Engineering Institute of Thailand.

“To achieve their sustainability ambition, many developers and owners seek help from consultants and experts to assist with developing, operating and managing their green real estate. This has contributed significantly to our growing portfolio of Leed-certified buildings that we manage in Thailand, building on our expertise in this area,” Chakrapan says. THE NATION (THAILAND)

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