http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.13Change: -0.02
R/$ = 12.07Change: -0.13
Au 1187.17 $/ozChange: -20.08
Pt 1125.50 $/ozChange: -23.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Aug 31, 2012

Green-rated buildings ‘don’t cost an arm and a leg’

Back
Construction|Africa|Building|Sustainable|Water|Africa|Australia|South Africa|United States|Star Green Star Building|Energy|Green Building|Green Building Materials|Green-building|Product|Environmental|Brian Wilkinson|Nicola Milne|Water
Construction|Africa|Building|Sustainable|Water|Africa|||Energy|Green Building|Green-building||Environmental|Water
construction|africa-company|building|sustainable|water-company|africa|australia-country|south-africa|united-states|star-green-star-building|energy|green-building-industry-term|green-building-materials|green-building-industry-term|product|environmental|brian-wilkinson|nicola-milne|water
© Reuse this

There is no significant difference between construction costs for green buildings and those of conventional buildings, and green buildings achieve better investment returns and higher valuations, says industry body Green Building Council of South Africa (GBCSA) CEO Brian Wilkinson.

The majority of reported premiums for green buildings in the US are between 0% and 4% higher than conventional buildings. However, the latest studies in Australia show that a 4-Star Green Star building is actually cheaper to build on average, while a 6-Star Green Star building – signifying world leadership – usually has a relatively small premium of about 6%.

The comparative immaturity of the South African green building market means there have not yet been any broad empirical studies on the capital cost impacts of green building locally. However, the local case studies documented in the green building ‘Rands and Sense’ report show the South African property industry can expect cost premiums of a new commercial green building to be between 1% and 10%, he says.

In young green building markets like South Africa, sustainable buildings generally incur a green premium above the cost of standard construction. However, once these markets mature and green building materials and practices become more prevalent, these “new market premiums” decrease and green building can be done at similar costs to conventional buildings, he says.

“While there seems to be consensus on the environmental benefits of green buildings, there is a lack of accurate, thorough financial and economic supporting information,” explains ‘Rands and Sense’ report author Nicola Milne.

The report highlights the financial and environmental benefits of green building, such as lower operating costs owing to savings on energy and water in particular, higher returns on assets and increased property values based on the lower operating costs.

Green buildings are also viewed as less risky, future-proofed buildings, which can fetch lease premiums and retain tenants longer than conventional buildings. Other benefits include the enhanced marketability of a green building, as it is a technologically advanced, environmentally and socially responsible building representing a differentiated product in the market, she says.

Green buildings also represent responsible investing, and reduced liability and risk because developers are cognisant of, and guard against increasing utility costs and supply constraints, as well as being mindful of possible carbon taxes and potential mandatory energy performance disclosure and broader regulation, says Milne.

Edited by: Martin Zhuwakinyu
Creamer Media Senior Deputy Editor
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Property Developments News
Updated 4 hours ago LSM Distributors has contracted engineering consultancy WSP | Parsons Brinckerhoff Africa to undertake the R100-million restoration of the 54-year-old Kyalami racetrack, situated in Midrand. The restoration will assist in re-establishing it as a venue for...
MAGNITUDINAL POTENTIAL The planned Durban Dig-Out Port will be the largest infrastructure capital project in South Africa, notwithstanding the value and timeframe of current projects
Updated 4 hours ago KwaZulu-Natal’s infrastructure development outlook is brighter than South Africa realises it is, considering the current level of megaproject activity in the province, states professional services and advisory firm Deloitte. Moreover, South Africa needs these...
More
 
 
Latest News
Irish Foreign Affairs and Trade Minister Charles Flanagan told media on Thursday that Ireland was well positioned to play a greater role in Africa, particularly in the aviation, pharmaceuticals and agricultural industries. Flanagan was this week leading a high-level...
The Lesotho Highlands Development Authority (LHDA) has appointed three consultants for work packages as part of Phase 2 of the Lesotho Highlands Water Project (LHWP). The contracts, worth a collective M40-million, were awarded to the SMEC-FMA joint venture (JV);...
JSE-listed Huge Telecom continued to grow its distribution capabilities during the year ended February 28, with the number of business partners increasing by 136, or 47%. Huge Telecom’s connectivity services, which were distributed mainly to small and medium...
More
 
 
Recent Research Reports
Steel 2015: A review of South Africa's steel sector (PDF Report)
Creamer Media’s Steel 2015 report provides an overview of the key developments in the global steel industry and particularly of South Africa’s steel sector over the past year, including details of production and consumption, as well as the country's primary carbon...
Projects in Progress 2015 - First Edition (PDF Report)
In fact, this edition of Creamer Media’s Projects in Progress 2015 supplement tracks developments taking place under the Renewable Energy Independent Power Producer Procurement Programme, which has had four bidding rounds. It appears to remain a shining light on the...
Electricity 2015: A review of South Africa's electricity sector (PDF Report)
Creamer Media’s Electricity 2015 report provides an overview of State-owned power utility Eskom and independent power producers, as well as electricity planning, transmission, distribution and the theft thereof, besides other issues.
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
 
 
 
 
 
This Week's Magazine
Updated 4 hours ago While strongly welcoming the promulgation of the new Part 101 of South Africa’s civil aviation regulations, governing the commercial operation of civil remotely piloted aircraft (RPAs) in South Africa, the Commercial Unmanned Aircraft Association of Southern Africa...
Updated 4 hours ago LSM Distributors has contracted engineering consultancy WSP | Parsons Brinckerhoff Africa to undertake the R100-million restoration of the 54-year-old Kyalami racetrack, situated in Midrand. The restoration will assist in re-establishing it as a venue for...
Updated 4 hours ago South African Defence Minister Nosiviwe Mapisa-Nqakula has expressed the hope that the defence budget will be significantly increased over the next five years. She did so while addressing the media in her recent budget vote media briefing. The 2015/2016 defence...
Updated 4 hours ago The African Development Bank (AfDB) has been an implementing agency for the Global Environment Facility (GEF) since 2008. The relatively young portfolio has 28 projects over 30 countries on the continent according to the 2014 AfDB and GEF annual report released...
PAUL SPEAR Training and development should be an integral and proportionate part of the long-term strategy of all companies, regardless of their size
Updated 4 hours ago Investment in South African youth through apprenticeships and learnerships will not only create direct benefits for businesses but will also contribute significantly to job creation and socioeconomic transformation in the country.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96