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