How Green Spaces Are Shaping The Future Of Commercial Real Estate?

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Green buildings aren’t merely a trend or a publicity stunt by developers to grab attention or stand apart from the competition. It’s an outcome of global discussions on the impacts of real estate on the environment. Buildings and the construction sector have long been known to be one of the chief contributors to greenhouse gas emissions.

 

Commercial real estate developers are thus trying to build eco-friendly structures with minimal environmental impacts. Green buildings are now not just a buzzword but a tangible solution for the pressing environmental concerns. This article will shed light on how green buildings are shaping up the commercial landscape.

 

Increased Demand From Occupants

 

While location and price are two important factors influencing the decision of tenants, a recent survey has found that sustainability also matters for occupants. Sustainable workplaces have a positive impact on employee productivity and health. Occupants don’t just contribute to reducing negative impacts on the environment but also enjoy the benefits of a greener and healthier workplace.

 

Healthy Indoor Environments

 

Green buildings use materials that are sourced sustainably. These buildings have features that promote a healthy environment indoors. For example, they have green roofs and plants indoors which improve the quality of air. Adequate ventilation systems, and the use of low-VOC (volatile organic compound) materials, are the other features of green buildings.

 

Advanced Technologies

 

Advanced energy management systems, automated lighting, and HVAC systems are other highlights of green buildings. Energy management systems monitor and control energy consumption in real time, adjusting settings based on occupancy patterns, weather conditions, and energy demand. Automated lighting systems incorporate sensors and controls to adjust lighting levels according to natural daylight and occupancy, reducing unnecessary energy use.

 

Commercial Real Estate In India

 

According to KPMG India and Colliers, India’s commercial real estate market witnessed an 83% growth in green offices compared to 2016. Green buildings in India account for 61% of the office market stock.

 

Green buildings also reduce maintenance costs by 20% as high-quality, durable materials are often more resistant to wear and tear resulting in fewer repairs and replacements over time. For instance, sustainably sourced wood, recycled materials, and low-emission paints not only minimize environmental impact but also enhance the longevity of the building components.

 

It makes economic sense for businesses to build green structures due to their profitability.

Green buildings significantly boost a business's bottom line by reducing operating and maintenance costs, enhancing property value, and attracting tax incentives. These buildings strengthen brand reputation by appealing to environmentally conscious consumers and investors.

 

Additionally, the operational efficiencies and resilience of green buildings lower risks and support long-term financial stability, making them a smart investment for sustainable business growth.

Article authored by: Team Proptranxact

Date: 19th July, 2024

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