To Focus On Real Estate Development Best Practices
By Ron Chen, Correspondent ASEAN Region and Ifeoma Asika, Correspondent Campuses
Dubai-based real estate developer Pantheon Development has announced that it will be partnering with top universities and research entities to create a sustainable practices manual for real estate managers. This comes as net zero campaigns – efforts to balance the amount of greenhouse gas produced and the amount removed from the atmosphere – are gaining momentum worldwide.
According to the founder of Pantheon Development, Kalpesh Kinariwala, achieving net zero in both operations and construction means rethinking the way design and construction are approached.
“The real estate development sector has shown a promising eagerness to mitigate their impact on climate change, with new buildings in the UAE readily adopting low or zero carbon solutions. The challenge, however, lies in retrofitting older buildings as it may require updating traditional energy and heating systems, as well as changing internal layouts and facades. The manual will give real estate developers a clearer idea about how sustainable practices can be implemented from bottom to top,” he said.
Kinariwala further believes the real estate sector needs to consider an increase of regulatory pressures, such as carbon accounting, on their operations. “The new global trend is green, and real estate developers must start considering green technologies as part of their short- and long-term strategies. After all, much of a building’s future performance is dictated by early decisions.”
He added that government programs can be an excellent driver for organizations to save money while pursuing ecological ethics. “Some local governments are beginning to realize the importance of a green agenda, and many have started to offer tax and fee structure incentives aimed at encouraging sustainable practices that reduce water and energy use, as well as waste to landfill.”
Kinariwala concluded: “When we talk about sustainability, we have to think about the future. It is about creating a sustainable system balanced between productivity and respect for the environment.”
