Making It Happen: “Rooftop Revolution” in Ph

A blessing.

That is how I consider every opportunity to share ideas with movers and shakers of Philippine society. I am a firm believer of the saying that “no one has the monopoly of knowledge” and to share the same stage with them is a chance for me to learn as well.

I hope that all our shared knowledge will contribute to making the Philippines, my adoptive country for 15 years now, a better place.

I wish to express my appreciation to the organizers of the two events this month for inviting me to be their resource speakers on Renewable Energy (RE). Not only did I share how we promote and support RE, but I was able to share the best practices advocated by our company, Italpinas Development Corp. (IDC), in creating eco-friendly communities through our real estate development projects.

I highlighted the importance of integration of green technology in the design and development in every community. This way, we are achieving an interconnected chain of activities in the genuine advancement of Sustainability Goals.

Aside from my speech at “The Future of Energy Show” at the SMX conference, I was delighted to join the panel discussion on the prospects of Commercial and Industrial Rooftop Solar in the Philippines. Indeed the “Rooftop Revolution” is happening all over the world, including the Philippines.

Meanwhile, at Energy Box’s “Solar and Energy Storage Future Philippines 2023” event at Hilton Manila, I shared the impressive impact of solar rooftops in real estate.

More home buyers are appreciating the strategic benefits of solar not just in each household but also for the whole residential community.

Once again, thank you and congratulations on the successful holding of the back-to-back events. Special congratulations as well to the recipients of this year’s “Solar + Energy Storage Future” awards.

I have so much to hope for the renewable energy sector in the Philippines!

There is a general excitement about the prospects of Renewables in the country, especially with the government’s aggressive steps to achieve the 35 percent RE share in the power generation mix by 2030.

One big move is the recent legal opinion by the Department of Justice (DOJ) that foreigners can own 100 percent of RE projects.

This could be a major development, a game changer in the industry.

Now, going back to my sector.

According to YCP Solidiance, an international management consulting firm, the Philippines’ construction industry is expected to bounce back after experiencing a steep decline at the height of the COVID-19 pandemic three years ago.

In its forecast, YCP said the industry is projected “to grow by 21.2 percent from 2020 to 2023, and then by a further 9.6 percent until 2025 at a value of $8.4 billion.”

We are excited about this forecast as we expand IDC’s projects in emerging cities. We want to be a key contributor not only in the promotion and usage of RE in our mixed commercial and residential building projects but also as an active player in the growth of the construction and real estate business.

I am also glad that the government has given these sectors a new focus. I personally welcome this development as a huge help to property developers, especially the startups.

The Department of Human Settlements and Urban Development (DHSUD) has issued Department Order 2021-008 allowing housing developers to get a temporary license to sell lots and units, even with pending issuance of permits and clearances from local and national government agencies.

With these regulatory changes, we can now promote, market, and sell our properties pending the issuance of a permanent License to Sell certificate.

Thus, IDC is now ready to launch and sell its Verona Green Apartments in Cagayan de Oro City. Construction of Phase 1 is expected to kick off within the year.

I am particularly proud of this soon-to-rise green community in the heart of Cagayan de Oro as the project highlights what green and sustainable communities should be.

As in our other projects, IDC’s developments are not just stylish; each one is sustainable and smart as proven by multiple awards from the global communities and are being locally appreciated in their respective locations.

By the way, our concept for Verona Green Apartments has not been left unnoticed by the International Property Awards.

I will be going to Bangkok to personally attend the Asia-Pacific Property Awarding Ceremonies later this month and get the award on behalf of IDC. I will share with you more details about it in my next column.

Kudos to President Marcos and DHSUD Secretary Jerry Acuzar for giving the real estate sector a much needed shot in the arm.

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