How the Focus on Sustainability is Shaping the Future of Real Estate Development
When the UN Secretary-General, Antonio Gutterres, addressed COP27 in November 2022, he said that we are on a “highway to climate hell.” The earth has been heating steadily and it shows no sign of cooling down. To address these challenges, everyone has a responsibility to change his/her lifestyle. Developers have a bigger role because of their immense impact on the carbon footprint of the occupants of the premises they design.
In this post, we demonstrate how the focus on sustainability is changing property development. One example of such developments is the New World Development, which is designed to bring the outdoors indoors and give customers a natural connection. Keep reading for more insights into sustainability and how it is shaping future designs.
Giving People a Natural Touch with Nature
Today, unlike any other time in the past, people do not simply get into a store or check online and make a purchase after seeing an ad. That is not enough. In addition, they want to feel that their shopping is helping to make the world a better place. This is the idea that developers have taken to help them develop properties that provide better connections to nature.
Developers achieve this goal in a number of ways. Some prefer using green facades, while others design the properties to allow light to pass through different rooms easily. At New World Development, the property looks natural, with vast space and plants incorporated into every floor. Whether clients are simply attending an art concert or shopping, there is a feeling that one is out in nature. It is one of the best experiences.
Helping People Live More Sustainably
The idea of sustainable living cannot be complete without giving them a connection to their culture. This is why the definition of sustainability places a lot of weight on promoting culture. Modern developments are using every opportunity to help people feel and be part of their culture. When he founded K11, Adrian Cheng ensured that every aspect of the brand was aimed at bridging art and commerce.
In all the K11 art malls in China, consumers enjoy layers of culture at once. It is a unique experience that has been drawing people to live more sustainably. He believes that the connection is crucial in supporting more sustainable living. Customers visiting sustainable properties, whether for shopping or hospitality, encourage such trends, implying that others can only copy to make the planet a better place for all.
Creating a New Link with the Future
To make any development truly sustainable, developers are focused on the entire lifecycle. At the construction stage, the properties use materials that help them to last for years. Others are utilizing recycled materials and leveraging the latest technology to cut down on water and electricity use. To demonstrate their commitment to sustainability, developers are using green certifications.
The certification is the new norm and property development companies have to demonstrate their commitment to sustainability. If a company is listed on Hong Kong Stock Exchange (HKEX), it must adopt sustainability and give comprehensive annual reports about their environmental, social, and governance (ESG) impacts. This includes a clear plan on how the company targets to minimize the negative effects in the future.
The real estate development is changing to align its design with the emerging demands of the local and international markets. With more stakeholders, from clients to local and international authorities, all demanding responsible and ethical company operations, developers have to create sustainable products. As New World Development has demonstrated, every developer’s focus should be inclined towards delivering even better ESG impacts.