Landmark Advisory, one of the leading property consultancy companies in the Middle East has revealed results of its first green building survey report.
The report took into account the attitudes of investors and stakeholders in the industry, depending on development and sale of green buildings across the UAE.
Conducted together with the Cityscape Intelligence, the survey took into account the responses from institutional stakeholders in the industry which included investors, developers, managers and analysts.
The Director of Research and Advisory at Landmark, Jesse Downs, said that the survey findings highlighted the fact that majority of those who were interviewed were aware about the green building concept, with 96% of respondents reporting an understanding of the green building concept. According to Downs, developing and awareness about the sustainable property market by way of education is the most vital step in this direction.
The candidates in the survey said that factors such as environmental friendliness, lower utility bills and better designs are the factors associated with green buildings. When questioned about the reasons for wanting to establish an office in a green building, they suggested these reasons.
Depending on the results, there is a clear distinction between building new green developments and retrofitting the existing building. When questioned about the potential implementation of the green building regulation, they agreed that they would require new buildings to achieve a minimum green standard. About 34% of respondents wanted this to be implemented immediately.
Implementing green development regulation locally is less contentious than green retrofitting regulation. This is likely due to the current state of UAE real estate market. Any green development regulation will have limited impact in the short to medium term as the development market will be extremely restricted over this period.