Green buildings gain ascendancy in real estate market
VietNamNet Bridge - The highlight of the Vietnam real estate market in 2017 was the boom of ‘green’ construction. 


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Vietnam is witnessing the boom of green construction


The trend is expected to grow in upcoming years as property owners are paying more attention to sharing utilities with surrounding communities, environmental protection, and adaptation to climate change.

In late 2017, an A-class office building in the central area of HCMC - Deutsches Haus – with modern design and utilities, was put into operation, providing 25,303 square meters of floor area. 

However, it is not the modern design and utilities, but the LEED Platinum certificate on green works which have impressed tenants.  

LEED, or Leadership in Energy and Environmental Design, is the most widely used green building rating system in the world.

More office buildings are expected to receive green work certification in the time to come. These include Etown Central in district 4.

“Of four office buildings expected to be completed in 2018, three are striving for green work certification, which should be seen as a positive sign,” said Trang Bui from JLL Vietnam.

The trend is expected to grow in upcoming years as property owners are paying more attention to sharing utilities with surrounding communities, environmental protection, and adaptation to climate change.

Some other apartment blocks have also joined the ‘green trend’, including Diamond Lotus Riverside developed by Phuc Khang Group. 

The investor recently teamed up with Japanese Mitsubishi Corporation to establish a $500 million joint venture which would focus on housing projects applying US standards on green works.

According to the US Green Building Council (USGBC), 87 projects had registered to pursue LEED certification by the end of 2017, and 37 of those have been granted the certificate.

In 2017 alone, 18 projects in Vietnam got the certificate, four times higher than the figure of 2016.

If counting other green certificates common in Vietnam, such as Lotus (Vietnam), BCA Green Mark (Singapore) and EDGE (World Bank), Vietnam has more than 40 works with green certificates, while only two projects received certificates in 2011.

Besides construction works, some Vietnamese architects, including Hoang Thuc Hao and Vo Trong Nghia, have been honored for their original green designs. 

In HCMC, a series of projects designed in harmonization with rivers and surrounding landscapes are under implementation, including River City in district 7, Saigon Royal, Icon 56, and The Goldview in district 4.

However, the number of certified green works remains modest, mostly because of the high costs for construction and operation.

Truong Anh Tu from Phuc Khang Group confirmed that the group has spent more money to operate Diamond Lotus Riverside in accordance with LEED standards.


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Chi Mai

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