China : Green buildings amounts increased

Structures offer cost advantages by savings on resources such as water and energy

The development of the nation’s green building sector is on the fast track, with Shanghai and Beijing surpassing major global cities in green space rollout, a property market survey said.

As of April, there were 320 million square meters of green building space in the country, certified by either the domestic Green Building Evaluation Standard or the Leadership in Energy and Environmental Design standard of the United States Green Building Council.

The figure is 154 times higher than in 2008, when the GBES was launched.

The rise reflects increasing concern about environmental issues, as well as government support and rising awa reness among developers and tenants of green buildings, market observers said.

Beijing and Shanghai each have nearly 20 million sq m of green building space, taking the top two positions in the ranking of global green buildings. That is more than other major world cities including Chicago, New York and Washington, according to the survey by US-based CBRE, a realty services provider.

Carbon emissions could be reduced by up to 50 percent when a building is operated under the green building standards, according to CBRE data.

The world’s top 10 green cities in terms of building space include Shenzhen and Wuhan, the report said.

First-tier cities such as Beijing and Shanghai have begun to harvest economic yields from green buildings, including gaining rental premiums and higher occupancy rates, reducing operation and maintenance cost and value-added advantages to talent recruiting and branding.

Rental premiums of LEED certified green buildings in China may reach 25.7 percent, according to CBRE data.

Analysts said green buildings do not cost more than conventional ones, as many assume, and in addition to hardware that may cut carbon emissions, water consumption and energy use, soft services and operating practices are key to the green status of a property.

Source: China Daily

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