Biz sector urged to focus on resiliency

MANILA, Philippines -  Top real estate consultancy CBRE Philippines joins global experts in urging focus on resiliency and liveability of the Philippines especially for the business sector.

In a report released by the Urban Land Institute (ULI) on Pacific Cities Sustainability Initiative Insights during its 2014 Annual Forum, an evaluation of the Philippines’ experience with rapid urban population growth and adverse weather occurrences brought to light an understanding of how to create more sustainable, buoyant, and liveable cities in an age of increasing climate uncertainty.

“The responsibility of creating a resilient and liveable Philippines lies in part with the real estate and infrastructure industries. These sectors go hand-in-hand in providing solutions to the country’s demand for sustainability and resiliency, in response to growing population and susceptibility to climate change and natural disasters,” said Rick Santos, chairman, CEO and founder of CBRE Philippines.

Investors link city resilience with competitiveness, thus, continuous efforts in improving the urban setting of the target area for business operations and expansion assure investors of a smoother transition, added Santos.

These urban areas or central business districts are where the population converge and do business. According to a report by United Nations, more than 50 percent of the global population now lives in these areas, especially in Asia.

Having been hit by numerous typhoons that tested the country-damaging houses, buildings, and offices-the Philippines is in an opportune position to rise from the devastation and build stronger, more sustainable structures, according to Santos. There are several key factors in building a resilient and liveable community and more competitive business districts. Players in the real estate industry, in particular, should be mindful of the materials and design of the structure, working around climate and other environmental challenges.

Urban planning and disaster preparedness also help improve building management before, during, and after a disaster hits. “Not knowing when and where calamities will happen, company operations are usually brought to a halt. This greatly affects productivity and may even result to losses. What we can do is plan ahead, keep our stakeholders in mind, communicate, and maintain focus. In the face of any force majeure, the best we can do is to be prepared and stay on top of things. Good governance is vital to business continuity even in times of calamities,” added Santos.

Putting paramount importance to “green” and sustainable solutions is also a requisite to building communities fit for business and investment. In CBRE Philippines’ latest press conference, the company noted growing investor demand for sustainability such that green certifications are now being considered as an integral part of building quality structures.

Investors are finally recognizing the long-term benefits of going green. “Imagine a green city serving as a home for trade and commerce, able to withstand harsh weather changes in the Philippines. This is actually a more appealing scenario for investors. The best time to build is now. There’s no time to waste especially now that the Philippines is very much prominent on the investment radar,” said Santos.