The real estate sector is one of the largest sectors in the world that has a significant impact on the environment as well as society and hence project developers must adopt eco-friendly practices and sustainability methodologies to build a greener future, according to experts at Berkeley Group.

A brand famous for developing luxury homes and premium residential neighbourhoods in London, Birmingham and the south of England, Berkeley is a pioneer in sustainable real estate development, as it adopts multiple methodologies to ensure that its new projects are compatible with communities, nature and the real estate market in general.

Embracing sustainability in property development is not only about saving the planet, but also a mutually beneficial approach that gives more value to residents, investors, and other stakeholders, stated Louise Clarke, Head of Sustainability and Adam Demetriou, Group Director for the Middle East, Africa and India.

Real estate developers often adopt different methodologies to achieve sustainability goals, depending on the size, location, and features of the project, they added.

The issue of confronting climate change is one of the most prominent of these methodologies, as new measures are being taken to reduce carbon emissions, such as integrating low-carbon technologies and using renewable energy sources on construction sites.

On the other hand, nature conservation may require the application of different methodologies, such as enhancing biodiversity by providing public spaces and achieving water neutrality on a project scale by modifying water-saving devices, the duo stated.

The importance of sustainability and social responsibility is highlighted through the decisions and strategies of real estate development companies around the world.

One of the main factors in increasing demand for sustainable real estate is the long-term value it provides, which goes beyond environmental protection goals. Adopting sustainable practices provides many benefits to residents, investors and other stakeholders.

Developing buildings that comply with sustainability standards in the sector also results in reducing operational costs, especially since these properties are designed to efficiently consume resources such as water, heating and electricity.

For residents, living in homes characterized by high levels of sustainability can lead to building more resilient communities, through the adoption of clean energy and other sustainable practices, as well as increasing the natural beauty of the area based on improving biodiversity.

According to these experts, resident-focused real estate developers prioritise creating healthy communities, such as rebuilding unwanted and unused spaces.

Some real estate companies are also taking additional steps to reduce waste, such as implementing waste control programmes and reusing building materials, which results in positive impacts on the environment.

In recent years, the increased focus on environmental, social and governance issues has brought about positive change.

According to a JLL survey, 83% of senior real estate executives are looking for ways to innovate and accelerate their sustainability strategies, recognizing its importance to the long-term success of their companies.

The Berkeley experts pointed out that both public and private sectors play a prominent role in increasing interest in sustainable real estate, as the private sector, which includes real estate development companies, seeks to explore new ways to enhance sustainability and reduce emissions, which encourages other peer companies to follow suit and help bring about a positive qualitative shift at the level of sector.

Many governments around the world also support this positive transformation, coinciding with the rise in regulatory standards.

The importance of measuring sustainability is highlighted by many companies adopting a more responsible approach to their operations, and having smooth procedures and reporting on sustainability can provide greater transparency for investors, buyers and other stakeholders.

All stakeholders can adopt a collective commitment to building a more sustainable and accountable future, by setting clear and consistent policies for the environment and society.

A major global player in the real estate sector, Berkeley has been at the forefront of companies adopting sustainable practices.

It has been a pioneer in adopting new sustainability methodologies by building high-quality homes, empowering communities and making a positive impact on the lives of its people, especially as it takes new measures to combat climate change and protect the environment, which is at the core of its business strategy and the way it develops new properties, said Clarke and Demetriou.

Berkeley, they stated, adopts a clear sustainability strategy in line with scientific goals to reduce carbon emissions.

"We emphasize that new real estate projects must improve nature instead of encroaching on it. In 2016, Berkeley Group became the first homebuilder to commit to significantly increasing biodiversity on every new site it develops," they noted.

"The group is currently active in exploring new methodologies for sustainability, in addition to supporting the United Nations Sustainable Development Goals," they added.-TradeArabia News Service

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