December 1, 2014 11:03 am
Emerging Trends in Real Estate® Europe is a highly recognized publication undertaken by PWC and Urban Land Institute. It is based on the responses of 500 survey participants and interviewees and gives insight into real estate investment and development trends in Europe.
In past ‘Emerging Trends in Real Estate’ surveys, sustainability was not given its due importance and was not recognized as a key factor in the real estate industry. The latest publication and survey responses however show that it has today infiltrated the culture of real estate and is considered a crucial element which cannot be ignored.
The“European Union has an ambitious green vision” (Emerging Trends in Real Estate® Europe). With buildings making part of 40% of EU’s energy usage, the property and development industry has a key role to play in the delivery of this concept. In order for this to become a reality, regulations must be implemented and intensified.
Taking a look at the local scene, new property In Malta has to obtain an “Energy Performance Certificate”. This implies that the building is up to or surpasses required minimum standards which aim at producing good quality energy efficient buildings.
The publication also states that scientific research proves that better buildings lead to an increase in productivity as well as a healthier work-life style which can in turn decrease sick leave and staff turnover.
Today, the new generation of employees “expect amenity space and opportunities for recreation like terraces or pocket parks, as well as healthy environments” (Emerging Trends in Real Estate® Europe).
Phase 2 of Pendergardens and the Exchange strive to create this healthy work environment and promote sustainability. The upcoming development will offer office space within a flexible working environment surrounded by 10,800 square metres of retail, leisure and recreational space including a wellness centre. The piazza will also add a social dimension to the business and financial centre, creating a vibrant location and a pleasant environment to work in.
The property’s central location allows easy access to Malta’s arterial road and also to the main entertainment area of St.Julian’s. With Pendergardens’ mix of both residential and office space, there is also the capacity for employees to buy and rent adjacent apartments and thereby not have to commute.
With sustainability and green strategies playing such an essential and crucial part of this industry, Europe is starting to see a change in the work-lifestyle, culture and concept of real estate and future generations. This hopes to lead to a much greener and brighter future. To find out more about these strategies click here.
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