Developers' interest in "green" buildings is boosted by the pandemic.
May 31, 2022
“Governments can put in place incentives that can help encourage the creation of more green buildings. These don’t have to be financial of fiscal incentives, it can be non-financial incentives… Non-financial incentives include an increase in allowable floor area or building height if they certify their projects as green,” Mr. Tan said.
Mr. Tan believes green buildings are not just a trend, but are here to stay. He cited the buildings’ efficiencies that result in savings for owners and tenants, as well as the positive impact on real estate brands.
“We’re seeing lot of investors now want to put money in climate smart investments. They are right to believe brown assets can stagnate in a couple of years… Green buildings make sense. A lot of early adopters are benefiting from the advantages of green building certification,” he said.
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