The implementation of green home criteria will increase the developers’ costs by up to 15 percent, depending on the degree of greenness, said Real Estate and Housing Developers' Association (Rehda) president Michael Yam Kong Choy.

He said if a developer opted for Green Real Estate (GreenRE) platinum rating, 15 percent would be the average initial cost increase if the score was 95 and above.

“We are going to introduce the rating tool to terrace housing initially, something simple and cheaper and from there developers can progress. We can’t run before we can walk,” he told reporters at the launch of ‘Green Rating Tool  - GreenRE’ in Petaling Jaya today.

Energy, Green Technology and Water Minister, Datuk Seri Peter Chin Fah Kui, officially opened the event.

Yam said Rehda would start from zero-base and was optimistic of implementing the green rating tool on 10 development projects.

“GreenRE is an alternative green rating tool in the local market that will create a healthy competition among other rating tools within the industry as consumers are offered more choices.

“The award rating for GreenRE Platinum is a score of 95 and above, GreenRE Gold (between 85 and 94), GreenRE Silver (between 75 and 84) and GreenRE Bronze (between 50 and 74),” he said.

Earlier, Chin said GreenRE was designed to be more efficient, practical and affordable.

“Based on key credit assessments that comprise energy efficiency, water efficiency, environmental protection, indoor environment quality, green innovations and carbon emission calculator, GreenRE is aimed at promoting a more sustainable real estate industry at non-prohibitive costs,” Chin said.

Industry-driven rating tool

GreenRE is an industry-driven green rating tool established to drive Malaysia’s real estate industry towards a more sustainable and liveable built environment, he said.

Chin said GreenRE was designed for various types of real estates which assesses building performance throughout the whole development process, commencing from the conceptualisation and design stage, during construction and up to post-completion.

He said the initiative to develop GreenRE was timely as Malaysia moved towards becoming a high-income developed nation, adding that the tool incorporated internationally-recognised best practices in environmental design, construction and performance with an added advantage of carbon emission calculator.

“The lower affordable cost of GreenRE certification will encourage more industry players to go for green-rated developments,” he said.

GreenRE is a not-for-profit initiative and is committed to promoting a sustainable real estate industry by encouraging voluntary adoption of green building practices.

It offers a practical an efficient solution to green certification.

The tool is developed in close collaboration with relevant stakeholders from both public an private sectors, including industry professionals.

- Bernama