Asia Gearing Up for Green Building Construction Boom
Asia is all set for an era of environmentally friendly construction in the commercial building sector. The trends are increasingly in favor of green building spaces in countries such as China and India that are witnessing a major construction boom. Many multinational companies are keen to be viewed as ecologically friendly and responsible organizations in Asia. This has led to a new demand for green office and industrial spaces.
CoreNet, a leading real estate association with a prominent presence in Asia, in conjuction with Jones Lang LaSalle has conducted an extensive survey to gauge the future green building trends in Asia. The results of this survey indicate that nearly half of all companies surveyed are ready to pay extra for energy-efficient and environmentally sustainable office spaces. The trend is seen more clearly in the MNCs with a global image, as they wish to be seen as responsible corporations worldwide.
Another aspect of green buildings, apart from the image value, which has attracted Asia-based companies, is the substantial savings in terms of energy costs that these buildings generate. Asian countries usually experience warmer climates for most part of the year. This results in high electricity costs to run the air-conditioning, which can constitute almost one-third of the total operating costs of the building. Some of the new buildings in Asia are surpassing even the tough Western standards in terms of energy efficiency and low carbon emissions.
The overall environmental impact of green construction in Asia can be gauged from the fact that almost 75 percent of total annual global office space construction is taking place in Asia only. These estimates are shown in the recent research study conducted by the eminent global property company CB Richard Ellis. The demand for architects, engineers and design managers specializing in environmentally sustainable construction is also on the rise in Asia. If these trends continue to consolidate, it can lead to a significant reduction in the environmental impact of buildings in Asia.
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