Building for Sustainability: How Property Development is Going Green
As our global consciousness grows towards understanding the importance of being eco-friendly and sustainable, there has been a palpable shift in various sectors, including the property development sector. The trend of building sustainable and eco-friendly real estate is accelerating, not just because of environmental concerns but due to the high demand for such properties in the market. Global green building is expected to double every three years, according to a Dodge Data & Analytics World Green Building Trends 2016 SmartMarket Report.
What is Sustainable Property Development?
Sustainable property development is a niche within the architectural, engineering, and construction field that focuses on creating sustainable buildings and spaces. These are designs that aim to reduce the total environmental impact during and after construction, maintaining ethics of resource efficiency, ecological conservation, and quality of life.
Why is it Important?
Firstly, sustainable building minimizes the harmful effects on the environment by reducing carbon emissions and limiting the depletion of natural resources. Moreover, it aids in providing a healthier living space for inhabitants due to better ventilation, abundant natural light, better air quality, and reduction in toxicity, amongst other facilities.
From the business perspective, as ‘going green’ becomes a trend, it increases the product’s value and appeal. With growing awareness and concern for the environment, the market for these construction products has increased. Consumers are willing to pay more for eco-friendly products, leading to increased profitability for constructors and developers who invest in green building.
The Role of Technology
Green building is predominantly facilitated by advanced technologies and techniques. These advances also result in economic benefits and enhanced occupant satisfaction. Technology has the power to drastically reduce energy consumption and waste in buildings. For instance, smart technologies such as building management systems can analyze patterns and automatically adjust lighting, heating, and cooling based on occupancy or daylight availability.
Examples of Sustainable Property Development
Here are some examples of sustainable property development:
- One Angel Square, Manchester: Known as one of the most environmentally friendly buildings in the world, it has a BREEAM score of 95.32%.
- The Bullitt Centre, Seattle: Known as oneof the greenest commercial buildings globally, it claims to produce more energy than it uses.
- The Crystal, London: Considered one of the most sustainable buildings globally, it is a 100% electric building and produces its own energy through solar power and a ground source heat pump.
These building projects show the trend of adopting sustainable practices is booming, and more buildings of such sort will continue be seen in the future.
Conclusion
As demands for sustainability increases and the property development industry begins to fully appreciate the economic, societal, and environmental return on investment that comes from green building, developers globally will continue to produce more sustainable properties. It not only reduces the negative impacts on the environment but also provides healthy living space for the inhabitants and yields higher profitability. Smart strategies combined with advanced technology and innovative building materials will drive this green revolution in the property development sector.
Frequently Asked Questions
What is Green Building?
Green building, also known as sustainable building, is the practice of creating structures and processes that are environmentally responsible and resource-efficient throughout a building’s life-cycle.
What are some benefits of green building?
The benefits include lower operating costs, increased building value, reduced waste, conservation of natural resources, optimized performance, and improved occupant health and productivity.
What is BREEAM?
BREEAM (Building Research Establishment’s Environmental Assessment Method) is the world’s leading sustainability assessment method for masterplanning projects, infrastructure and buildings.
