The increasing importance of green building certifications is significantly enhancing the marketability of properties. The shift towards sustainability, wellness, and health in real estate emerged as a significant trend, driven largely by the COVID-19 pandemic. Nowadays, homes are not merely viewed as spaces for living but are instead seen as multifunctional spaces where individuals can work, learn, socialize, and rejuvenate. This evolving perspective has significantly influenced buyer preferences and made eco-friendly homes the preferred choice for the future. Real estate developers are keenly observing this shift, investing in green building certifications to appeal to a more environmentally-conscious buyer base.
The Benefits of Green Buildings
Green buildings are identified by their environmental friendliness throughout all stages of the product lifecycle, including design, land procurement, construction, and end use. These sustainable structures offer numerous benefits for developers and homeowners alike. For homeowners, green buildings typically result in lower utility bills due to improved energy and water efficiency. They also enhance the quality of life by providing better indoor air quality and access to natural light, which contribute to overall health and well-being.
For developers, these buildings often command higher rental and sales prices and can improve corporate image by showcasing a commitment to sustainability and corporate social responsibility. Additionally, developers can avail themselves of green financing options offered by various financial institutions, which provide financial support for constructing environmentally friendly buildings. With such financial incentives available, it’s clear that investing in green buildings is not only beneficial from a corporate social responsibility standpoint but also economically advantageous.
UAE’s Commitment to Sustainability
The UAE has taken significant steps in promoting sustainable construction and real estate practices, setting an example for the region by being the first Gulf country to ratify the Paris Climate Accord. The country has pledged to reduce emissions and aims for Net Zero emissions by 2050. The progress in sustainability is evident as the UAE adopts regulations that meet and occasionally exceed some of the most stringent global building standards.
Government measures have played an instrumental role in driving the green building movement. Various laws and regulations have been instituted to further encourage these practices. Among the prominent green building certifications utilized in the UAE are Estidama, LEED (Leadership in Energy and Environmental Design), BREEAM (Building Research Establishment Environmental Assessment Method), Green Globes, and the Dubai Municipality Green Building Regulations and Specifications (GBRS). Implementation of these certifications has established the UAE’s real estate market as a leader in sustainability.
Estidama: Promoting Sustainable Development in Abu Dhabi
Estidama, developed by the Abu Dhabi Urban Planning Council, is designed to promote sustainable development in Abu Dhabi. This system assesses buildings based on performance metrics including energy efficiency, water conservation, and materials selection. Successfully meeting Estidama’s requirements earns a Pearl Rating, with higher ratings indicating greater sustainability levels.
The Pearl Rating System is a key component of Estidama, encouraging developers to integrate sustainable practices into their projects. This rating system not only helps in reducing the environmental impact of buildings but also ensures that the structures positively contribute to the well-being of their occupants. By achieving higher Pearl Ratings, developers can demonstrate their dedication to sustainability, appealing to a growing market segment that values eco-friendly living environments.
LEED: A Globally Recognized Certification
LEED (Leadership in Energy and Environmental Design) stands out as one of the UAE’s most recognized green building certifications. Developed by the U.S. Green Building Council, LEED is a globally esteemed rating system that assesses buildings’ environmental performance across several criteria, such as energy efficiency, water conservation, and indoor air quality. The LEED certification acknowledges buildings’ commitment to sustainability and environmental stewardship.
The program offers four levels of certification based on the points achieved in the assessment: Certified (40-49 points), Silver (50-59 points), Gold (60-79 points), and Platinum (80+ points). This certification is highly sought after by developers aiming to enhance their properties’ market appeal and demonstrate their dedication to sustainable practices. LEED’s rigorous standards ensure that certified buildings not only minimize their environmental impact but also offer healthier, more efficient spaces for occupants.
BREEAM: Emphasizing Sustainable Value
BREEAM, developed by the UK-based Building Research Establishment (BRE), evaluates a development’s procurement, design, construction, and operation against various performance benchmarks. It emphasizes sustainable value in key areas like energy, land use and ecology, water, health and well-being, pollution, transport, materials, waste, and project management. Depending on their performance, developments can be rated on a scale from Unclassified (85%).
BREEAM’s comprehensive approach ensures that buildings are not only environmentally friendly but also contribute to the overall well-being of their occupants and the surrounding community. By addressing multiple aspects of a building’s lifecycle, BREEAM provides a holistic assessment that encourages developers to implement best practices in sustainability. This comprehensive evaluation system has made BREEAM a preferred choice for developers committed to creating high-performance, sustainable buildings.
Green Globes: A Comprehensive Evaluation System
Green Globes, overseen by the Green Building Initiative (GBI), is another sustainability certification system that evaluates buildings across several critical areas: energy efficiency, indoor air quality, water conservation, materials selection, and site development. Maintaining Green Globes certification necessitates re-assessment every two years, involving a revised self-assessment and an on-site evaluation by a certified Green Globes Professional (GGP).
This certification system provides a flexible and comprehensive approach to evaluating and improving the sustainability of buildings, making it an attractive option for developers and property owners committed to environmental responsibility. The periodic reassessment ensures that buildings continue to meet high standards of sustainability, adapting to new technologies and practices that further reduce their environmental impact over time.
Dubai Municipality Green Building Regulations and Specifications (GBRS)
The growing significance of green building certifications is greatly boosting the marketability of properties. The recent move towards sustainability, wellness, and health within the real estate sector has emerged as a major trend, largely accelerated by the COVID-19 pandemic. Nowadays, homes are not just seen as places to live but are considered multifunctional spaces where people can work, learn, socialize, and rejuvenate. This changing mindset has had a profound impact on buyer preferences, making eco-friendly homes the preferred choice for the future. Real estate developers are paying close attention to this shift, investing in green building certifications to attract a more environmentally-conscious buyer demographic. The emphasis on eco-friendly features such as energy efficiency, sustainable materials, and healthy indoor environments is no longer just a niche interest but a mainstream demand. This trend reflects a broader societal shift towards environmental responsibility and has made green certifications a critical marketing tool in the competitive real estate market.
