With a large portion of the country gripped by a crippling drought, the fact that water is a precious and an ever-scarcer commodity has never been more evident. And the cost of electricity increases annually, usually at a rate far above the accepted rate of inflation. That is why, more and more, IGrow Wealth Investments is backing developments that include clever design features that make them ecologically friendly.
Fortunately, the South African real estate market is moving with the times, supporting developments that are built sustainably – it now makes economic and ecological sense to build ‘green’. A green building project quickly increases that development’s marketability.
To face the water and energy crises head-on, we need to recognise that buildings are one of the main contributors to climate change and address this issue. The main purpose of a green building is to significantly reduce, or where possible eliminate, the negative impact of construction on the environment as well as the people who work or live in those buildings. This is done through design, construction and operational practices that ensure the finished buildings are environmentally responsible, as well as being energy- and resource-efficient.
Apart from the obvious long-term environmental advantages of living and\or working in a green building, there are additional knock-on benefits, such as:
- Lower operating costs
- Higher returns on assets
- Increased property values
- Enhanced marketability
- Reduced liability and risk
- Tenant retention
- Responsible investing
- Increased productivity
- Promotion of wellness, healing and productivity for those living and working in these buildings
But what exactly is a green building? Essentially a green building uses building materials and design features to reduce heat loads, maximise the use of natural light and fresh air circulation. The building materials must be non-toxic for the actual construction of the building and, where possible, reduce waste and use recycled materials. Other green features include using renewable energy sources like solar geysers and fitting the building with water-efficient plumbing fittings and water harvesting systems.
Not only do green buildings contribute to environmental sustainability, health and productivity, but they are cost-effective to operate too. From an owner and tenant perspective, this means lower running costs, which fosters a healthy relationship between landlord and tenant, leading to long-term rentals.
Green buildings are the way of the future and, considering all these benefits, is it any wonder? This is why IGrow Wealth Investments, South Africa’s leading property investment group, is constantly on the lookout for green building opportunities, like the recently launched The Courtyard and Harbour Arch, both located in Cape Town, Fourleaf Estate in Port Elizabeth, and One on Whiteley in Johannesburg.
Contact IGrow today to secure your investment, not only in your future but in the future of the planet too.