Professor Dang Hung Vo: Green real estate in Vietnam is just a trend

According to Prof. Dang Hung Vo, former Vice Minister of Natural Resources and Environment, the conflict between short-term and long-term benefits is one of the main reasons for green building development in Vietnam.

At the seminar “Green Real Estate: Trends or Trends?” On the morning of September 20, Prof. Dang Hung Vo led a classic case of green building development in Singapore.

Prof. Dang Hung Vo

Prof. Dang Hung Vo

Accordingly, in retrospect of Prime Minister Lee Kuan Yew, Singapore held a very large seminar on how to green development for Singapore. The seminar took the criterion of “bringing the park into the city” but when closing, Prime Minister Lee Kuan Yew concluded the opposite: Singapore must “bring the city into the park.” It was the thought that made green building strong, became a natural trend in Singapore and led the island nation to become green as today.

“In Singapore, even social housing must comply with the ratio of green areas on each floor,” said Dang Hung Vo.

Back to the case of developed countries, GS Vo said: “In countries such as Vietnam, green development is not an indispensable trend that just stopped in the form of a movement.

Even with the famous urban areas such as Phu My Hung or Ecopark, Prof. Vo also said that the investor just created a green ecosystem, but other issues such as water use, energy savings energy and renewable energy as well as many other green criteria are not yet available.

In fact, in Ho Chi Minh City and Hanoi are still in the status of investors intentionally increase the number of apartments into the project, cutting down the utility (trees, water surface …). It is said that the cut is approved by the regulatory authorities.

“Investors are almost entirely concerned about how much space they can afford to sell, and what they have achieved with regard to green development is almost negligible. In fact, the cut has been cut down. Even cutting has created a real estate project against the green criteria, “said Vo.

Conflict costs – benefits and the role of the state

Evaluating the development of green buildings in Vietnam, Professor Vo said that the conflict between cost and benefits is the main reason hindering the trend of greening. Specifically, according to calculations, the cost of green building is usually several percent higher than that of conventional buildings. While the benefits are greater than the cost, however, it is a long-term benefit. As for the real estate investment cycle, developers pay more attention to immediate benefits.

“In developed countries, the support for green real estate projects is very clear, and investors do not have to pay more for participating in green property development, I think the most important thing is that we have to overcome the cost constraints so that the selling price of products is not too high, “said Vo.

According to Prof. Vo, to overcome this difficulty, a synchronous solution, from government policy to the habits of designers, consultants, investors and consumers, needs to be overcome.

Specifically, GS Vo raised 3 points solution:

First, there should be a change in cost-benefit analysis on the long-term view. “This analysis for investors is only in the investment cycle, so what is the responsibility of the state after the project cycle with the long-term benefits? There should be policies that address the benefits of an investment project. “

Second is the story of the law and the development policy of the state must be expressed in detail, can not accept the philosophy of green development in some events such as “World Water Day”, “World Environment Day” world, then everyone home. “It must be translated into specific policies, to be reflected in the legal policy, in law enforcement guidance, for example Vietnam must have a set of standards for green property,” said Vo.

Third, on the side of investors, Professor Vo said that we need to change thinking, not just the immediate benefit of selling apartments. Consumers also need to be aware of the requirement for apartments at the project.

“We, in urban development, need a long-term vision of a state-approved development strategy that is permanent and provides all the necessary policies and strategies for urbanization and greening. Management agencies must change their thinking towards green development criteria, do not cut the approved things, do not follow the investors, “emphasized Vo.

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