Short answer. Yes. Even if your usufruct was constituted on the building alone, its destruction gives you the right to make use of the land and the salvageable materials — the same rule that applies when the usufruct covers the whole property and a building on it is destroyed.
What the law says
The same rule shall be applied if the usufruct is constituted on a building only and the same should be destroyed.
Civil Code, Article 607 — Destruction of a Building. Read the full provision →
Destruction of the building does not end your rights
The law addresses two situations together. First, if a usufruct covers immovable property that includes a building, and the building is destroyed in any manner whatsoever, the usufructuary still has the right to make use of the land and the materials left over. Second, the same protection applies where the usufruct was constituted on the building alone rather than the whole property — its destruction does not simply extinguish the usufructuary's rights. In either case, you keep something to use even after the structure itself is gone.
What changes if the owner wants to rebuild
The owner is not barred from constructing a new building on the land. If they choose to, they get the right to occupy the land and use the materials for that purpose. But this comes at a price to the owner: for as long as the usufruct continues, the owner must pay the usufructuary interest on a sum equivalent to the value of the land and the materials. In other words, the owner can reclaim the physical space to rebuild, but only by compensating the usufructuary for the value they are giving up while the usufruct is still running.
What this means in practice
If your usufruct was over a building only, and it burns down, collapses, or is otherwise destroyed, you do not automatically lose everything — you can use the land underneath and whatever materials remain from the ruins for the rest of the usufruct's term. If the owner steps in to rebuild, your use of the land gives way to the owner's construction, but you are entitled to be paid interest on the value of what you are giving up, calculated from the value of the land and the materials, for as long as your usufruct would otherwise have lasted.
The cause of destruction does not change the outcome
The right to use the land and materials attaches regardless of what caused the building to be destroyed — fire, a typhoon, an earthquake, or any other cause counts, since the law covers destruction in any manner whatsoever. What this provision does not do is excuse the usufructuary from separate responsibility if their own negligence or fault caused the destruction in the first place. A usufructuary generally owes a duty to preserve the property with the care of a prudent person, and that underlying duty is a different question from what happens to the land and materials once destruction has occurred. This right also does not give the usufructuary ownership of the land or materials — only the right to use them for the remainder of the usufruct's term.