Green commercial buildings in China will usher in a period of fast development due to a nearly 15 percent reduction in operating costs, according to a white paper released on June 28 by Cushman & Wakefield.
Green commercial buildings could improve workplace quality, operating efficiency and user productivity, and it’s not surprising to find they are enjoying solid demand levels, said Edward Cheung, chairman of Cushman & Wakefield in China.
From 2012 to 2018, the stock of Shanghai’s green Grade-A office rose by a factor of eight and a half, accounting for 51.6 percent of the total, according to the white paper.
Meanwhile, the average rental for Grade A office projects with green certification in Shanghai was 8.8 percent higher than those without green certification in the first quarter of 2018.
As more property developers and customers realize the benefits of green building, including financial advantages and sustainability, green commercial real estate in China will become more popular in the future, the white paper said.
“70 percent of our health is determined by living environments and lifestyle,” said Tony Armstrong, senior vice-president at the International WELL Building Institute in Asia. “Apart from design and construction, we should also care about operations, including how to maintain buildings at a green level.”