Developers prefer green buildings over non-green ones

Jewel Changi Airport is a unique mix of lush nature and urban energy that features leisure attractions, retail offerings, hotel and airport operations at an estimated cost of $1.7 billion. (Photo: Changi Airport Group)

Given the various benefits offered by green buildings, developers and homeowners in Singapore are willing to fork out more for green buildings certified by the Building & Construction Authority (BCA) Green Mark, reported Business Times.

A survey by the Building & Construction Authority (BCA) showed that 72 percent of developers prefer green buildings over non-green ones and were willing to pay up to five percent more. As for homeowners, over 70 percent were willing to fork out three to four percent more.

More than 90 percent of the respondents believe that green buildings result in better health benefits, reduced environmental impact and lower utility bills.

The survey polled 2,200 developers, homeowners, property agents, office tenants and facility managers. BCA noted that the survey results reinforce the business case for green buildings within the city-state.

“Meeting the strong demand for green buildings domestically has enabled many Singapore built environment firms to develop specialised capabilities in green building design for the tropics. The greater interest in sustainable buildings abroad has also presented new business opportunities to our firms, especially in developments which have adopted BCA’s well-regarded Green Mark assessment,” said BCA CEO Hugh Lim.

And with Singapore firms riding on the robust demand for green buildings, close to 300 projects across 80 cities overseas now have BCA’s Green Mark certification, revealed BCA.

In fact, even small and medium-sized companies (SMEs) are offering their services overseas.

Energy Services company G-Energy Global Pte Ltd, for instance, has over 500 projects in Singapore and overseas. Some of its iconic projects are World Trade Centre 2 in Indonesia, Saigon Sports City in Vietnam and Jewel Changi Airport in Singapore.

 

This article was edited by Keshia Faculin.