Filinvest Land to replicate Northgate Cyberzone’s ‘green’ technology
Major property developer Filinvest Land Inc. (FLI) plans to replicate the success of its District Cooling System (DCS) in Northgate Cyberzone in Filinvest City, Alabang in its other development projects in the country.
FLI subsidiary Filinvest Clark Mimosa Inc. (FMCI) has drawn up plans with Philippine DCS Development Corporation (PDDC) to develop a DCS in its Filinvest Mimosa Plus Leisure City. PDDC is a joint venture between French-based multinational firm ENGIE and FLI and was formed in 2013 to develop and operate the Northgate Cyberzone DCS, the country’s largest DCS.
In addition, PDDC has also invited other building owners operating in Northgate Cyberzone to connect to its Northgate Cyberzone DCS to maximize the efficient use of the sustainable technology solution.
“We are in continuous search for better building designs and practices in terms of cost efficiency and environmental impact. A cooling system is our foremost priority as it has a significant impact, not only in terms of capital expenditure and maintenance, but because of the significant energy savings we generate and its environmental impact,” said Ana Venus Mejia, chief finance officer of FLI’s subsidiary Cyberzone Properties, Inc., to be renamed Filinvest REIT Corp. (FILREIT) pending regulatory approval.
A DCS distributes cooling capacity in the form of chilled water or other medium from a central source to multiple buildings through a network of underground pipes for use in space and process cooling. The system is more efficient than conventional air conditioning and has a significant positive environmental effect by reducing CO2 emissions and pollution.
With the DCS, FILREIT is able to cool its buildings in the 18.7-hectare Northgate Cyberzone and substantially reduce greenhouse gas emissions. The Northgate Cyberzone DCS has a 10,000-ton refrigerant plant, a 42.2-megawatt cooling capacity, and a 3.4-kilometer underground distribution network of steel pipes.
The cooling system also enhances water efficiency in Northgate Cyberzone buildings by eliminating the use of make-up water and the chemical treatment of cooling towers. “The district cooling system is an essential solution to cool cities efficiently and will play a critical role in fighting climate change in Southeast Asia. We are proud to have partnered with Filinvest Land Inc. to develop the Philippines’ largest energy efficient cooling system found in Northgate Cyberzone. We look forward to supporting Filinvest in scaling this infrastructure and developing similar ones across its portfolio to support the country’s transition to a low-carbon future,” said Thomas Baudlot, CEO, ENGIE South East Asia.
FLI believes the LEED® v4 Gold for Neighborhood Development Plan certification is one of the features that has attracted topnotch multinational business process outsourcing (BPO) firms to Northgate Cyberzone. Two of the newer buildings located in Northgate Cyberzone – Axis Tower 1 and Vector Three – are LEED Gold certified office buildings owned by FILREIT. Certifications like LEED and Building for Ecologically Responsive Design Excellence cover the quality of materials used and how these all come together to improve building efficiency, ultimately resulting in lower costs for tenants and boosted employee productivity and retention, according to a recent Jones Lang LaSalle (JLL) office property market study of Metro Manila and Metro Cebu.
“The success of the Northgate Cyberzone DCS gives Northgate a substantial commercial edge to attract new tenants within its IT park and is in line with the Filipino government’s drive towards green energy,” ENGIE’s Mr. Baudlot said. “The DCS frees up building space and existing tenants can enjoy immediate benefits on their utility bill from Day 1.”
According to the registration statement FILREIT filed with the Securities and Exchange Commission (SEC) in March 2021, FILREIT’s portfolio has a total of 17 office buildings, consisting of one office tower with a retail component in Cebu Cyberzone in the gateway of Cebu information technology (IT) park in Lahug City, Cebu, and 16 office buildings clustered in Northgate Cyberzone. a Philippine Economic Zone Authority (PEZA) Special Economic Zone and IT park. As such, 16 buildings in Filinvest REIT Corp.’s portfolio benefit from the DCS servicing Northgate Cyberzone.
The 16 buildings in Northgate Cyberzone are situated in Filinvest City, the first central business district (CBD) in the Philippines to receive LEED® v4 Gold for Neighborhood Development Plan certification. The property is also being served by an Eco-Loop, the country’s first integrated, electric-powered 24/7 public transport system.
A REGISTRATION STATEMENT RELATING TO THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION BUT HAS NOT YET BECOME EFFECTIVE. THESE SECURITIES MAY NOT BE SOLD NOR OFFERS TO BUY THEM BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION STATEMENT IS RENDERED EFFECTIVE. THIS COMMUNICATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR BE CONSIDERED A SOLICITATION TO BUY.
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