Colliers releases green design Singapore property guide
By Rachel Kelly,
SINGAPORE: A guide has been launched to help Singapore property players go green.
The “r.e. design” guide, produced by property consultant Colliers International, is Asia’s first green real estate guide.
It has received a warm reception around the region, but some say that costs and time are still a deterrent for developers to go green.
The guide is targeted at members of the real estate industry, including developers, landlords and tenants. It aims to help them tackle the challenges of going green.
The guide has already been launched in six other cities in the region, such as Hong Kong and Manila.
Colliers’ Calvin Yeo said: “We’ve had overwhelming response from all our clients in all the markets that we have launched the green real estate guide.
“In Singapore, we have embarked on a client engagement programme. It has been well received and some of our clients have progressed to do a green building audit.”
Colliers will be working closely with Singapore’s Building and Construction Authority (BCA) and other government agencies to promote green activities.
Industry players say that despite initiatives such as BCA’s Green Mark, which offers a grant of up to S$3 million for green buildings and projects, cost and construction timing are still impediments to “going green”.
Cushman & Wakefield’s managing director, Donald Han, said: “Green Mark buildings typically would be slightly more expensive - some of the materials you are sourcing such as recyclable materials are more expensive and not readily available.
“So again, it boils down to the cost as well as the timing. A lot of developers are always trying to find the fastest way to complete a building at the most minimum cost.”
There are currently over 120 Green Mark buildings in Singapore, with a further 200 under assessment.
Industry players say the real estate market will eventually reach a tipping point where green buildings will go from being optional to becoming a standard practice.
- CNA/ir
Source : Channel NewsAsia - 02 Aug 2008
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