IHBC members may find useful new professional perspectives on asset management in an article from Designing Buildings Wiki by Professor Colin Lizieri which includes ‘Five sustainability principles for the real estate industry’ and calls for a focus on ‘the building in its urban context rather than on the technical elements of ‘green construction’.
image from ‘Real estate – going from villain to hero’
Colin Lizieri writes:
The portfolio approach brings another critical benefit – it focuses on the building in its urban context rather than on the technical elements of ‘green construction’.
- Efficient management of building operation by exploiting the digital revolution through use of building information models in asset management and exploiting smart building
- Owners and tenants cooperating through green leasestructures to incentivise and optimise building efficiency and resource usage.
- Shifting portfolios towards more sustainableasset structures, via repositioning, retrofitting and redevelopment.
- Embedding real estate activity within a wider urban sustainability through cooperation with city governments and other urban stakeholders.
Such an approach shifts away from the ‘green building‘ to a more collaborative, strategic view of urban sustainability and the role of real estate in the urban environment. But why should private firms and investors adopt such an approach? The work of the Council suggests that they should because it is in their business interests to do so.
Read the article on DBW