The Perspective on Sustainability in the Construction Industry
One of the most substantial movements in business and even politics today deals with the sustainability problem. There have been many discussions on this topic in the past decade, and plenty of action has already been taken. The number of countries introducing new laws with ecology in their focus is constantly rising, so it's only natural that this will also affect the business market.
We are aware of the urgency of this issue. So one of our Gulf Real Estate Awards categories offers recognition for Sustainable Green Development.
Although all businesses should strive for sustainability in every sector, it's obvious that the GREEN approach can be most effective for the planet in the real estate industry. With each successfully built eco-friendly building, we're one step closer to winning the global warming battle.
The construction and operations of buildings have been shown to account for 40% of worldwide greenhouse gas (GHG) emissions. Nations, local governments and companies are continuing to set carbon reduction goals to fight this massive amount for being as carbon-neutral as possible. It might not be the norm now, but building sustainable, energy-efficient structures will strongly impact business success in the future, especially if we know that the future customers are taking eco-friendly approaches to business as a serious matter.
Offering people environmentally-conscious features like rooftop solar panels, LED lighting, better insulation and smart-home technology is a win-win for both the consumer and investor. It has a purpose and it is measurable (e.g., lower utility bills, reduced water usage, renewable solar energy).
Interest in zero energy buildings (ZEBs) is also on the rise. Some countries have adopted or have considered laying down ZEBs as their future building energy targets to aid in solving the problems related to the depletion of energy resources and the deterioration of the environment.
LEED (Leadership in Energy and Environmental Design) is a green building rating system used worldwide. It applies to all types of buildings and provides a model for healthy, highly efficient, and cost-saving green buildings. LEED certification is a globally recognized symbol of sustainability achievement and leadership. LEED can be consulted with buildings currently under construction, too.
The LEED ratings vary according to points gathered:
- Projects with 40-49 are registered as "certified".
- 50-59 get the "silver" rating.
- 60-79 are awarded the "gold" rating.
- Projects with over 80 points get to be called "platinum".
Currently, there are 43 buildings and projects with a platinum rating in the UAE, and in 2019 Dubai was the first city in the Gulf region that was awarded a platinum rating. This clearly shows the Gulf initiated necessary changes, but there is still so much room for improvement.
You can check if your buildings or projects are on the right path by applying for the Gulf Real Estate Awards '21, currently in the Early Bird Entry phase, closing on July 15th. Don't miss a chance to get a great discount on the standard price and get the recognition you deserve for the good work.