Sustainability In The Property Development Industry
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 In recent years, our industry has come under scrutiny for its impact on the environment. The lack of widely established mechanisms to control emissions has led to a failure in curbing the environmental footprint of the property development industry. However, a shift is occurring with a focus on sustainable real estate development– a movement that aims to build sustainability into all parts of a development project from the ground up. Â
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Lower Maintenance & Operating CostsÂ
One of the key advantages of sustainable real estate development is the reduction in maintenance and operating costs. Sustainable structures are designed to preserve resources by utilising them efficiently, leading to significant savings in the long run and lower operational costs. Green buildings have shown they’re able to save between 25 and 35 percent on energy usage and 89 percent more water than conventional buildings. By incorporating eco-friendly technologies such as solar, wind, hydro, or biomass power, property owners can not only decrease energy consumption costs but also contribute to overall sustainability on their locality and environment. Â
Higher Resale ValueÂ
When businesses who are concerned about their social responsibility look to leasing, properties with energy-efficient appliances, technologies, and installations like solar panels are given a higher weighting among other properties under consideration. With a recent growth in awareness of the health benefits associated with living in green buildings, buyers are willing to pay a premium for properties developed with sustainability features in mind. Green buildings have been shown to generate less waste, provide a balanced and healthy environment, and allow property owners to see higher returns on their investment. When selling a green building, owners can potentially gain 8 to 10 percent more worth than the market value offered for the equivalent in a conventional building, making sustainability a priority for sound investment and long-term financial returns. Â
Improved Reputation and Corporate Social ResponsibilityÂ
Investing in sustainable real estate goes beyond financial gains; it also enhances a company’s reputation and corporate social responsibility (CSR) to its shareholders. Green structures demonstrate an organisation’s commitment to minimising its environmental impact and contributing positively to their stakeholders. Businesses that operate in sustainable buildings can attract passionate customers, employees, and build long-term prosperity. Leasing or purchasing green buildings allows organisations to showcase their dedication to environmental responsibility, bolstering their CSR claims and improving their financial and business health. Â
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A Healthy Way of LifeÂ
Sustainable buildings not only benefit the environment but also contribute to the health and wellbeing of its occupants. Construction crews working on green buildings use less invasive and harmful building techniques, resulting in a healthier environment. The materials used in green buildings last longer, require minimal maintenance, and have a minimal impact on the environment.Â
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Sustainability in property development is no longer a choice but a necessity for a better and greener future. Sustainable real estate developments offer numerous benefits, including cost savings, higher returns, improved CSR, and a healthier way of life for occupants. As the industry continues to evolve, property owners, developers, and businesses will begin to prioritise sustainability in every aspect of construction, from planning to post-construction to occupying/leasing. It’s time for our industry to build towards a sustainable future. Â
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