There is a greater number of eco-friendly office constructions appearing around the central business region of Singapore. This is a result of not just demand from Lorong Lew Lian Condo CDL tenants, but also because green construction is the new standard, according to specialists.
The Singapore government has now decided that at least 80% of all new constructions must be eco-friendly by 2030 – this measure was introduced by the Building and Construction Authority (BCA). The reality is that, in the long term, this Lew Lian CDL New Condo significantly lowers the amount of non-green buildings which can be constructed.
Serangoon CDL Hong Leong Condo
The BCA Green Buildings policy was implemented in 2005 and in the years since the amount of eco-friendly constructions in Singapore has soared for Lorong Lew Lian Condo – from a tiny 17 to over 2,500. This represents over 70million sq ft of total floor space (alternatively, close to 29% of the overall GFA in the country).
According to property owners, eco-friendly Upper Serangoon Condo tenants are usually multinational enterprises and large scale local-listed companies, which are trying to fulfil green credentials and stay in line with industry climate regulations. They also tend to feel a strong need for public approval for Lorong Lew Lian Condo – adhering to green policies strengthens ties with clients, customers, shareholders, and employees, as well as the citizens of Singapore.
The financial industry is particularly keen to demonstrate its green appeal and commit to using eco-friendly office spaces for Hong Leong Holdings Condo, renewable materials, sustainable technologies, green construction resources, and more.
Lorong Lew Lian Condo Serangoon Condo
The executive vice president of City Developments, Anthony Goh, claims that some enterprises are treating green characteristics as an essential part of selecting properties for lease.
A professor at the National University of Singapore, Sumit Agarwal, has said that some MNCs are also eligible to recoup tax discounts in their native nations (especially Europe and America) if they commit to green policies. In fact, Europe and the US are extremely dedicated to helping companies – both at home and abroad – carry out more green operations.
Yet, it is tricky to decide whether eco-friendly Lorong Lew Lian Condo properties should demand a rental premium over less economical buildings, just because they are ‘green.’
As the majority of new constructions in Singapore are now green (because they have to be), they tend to attract significantly higher rent prices. This is the result of a range of issues; everything from postcode to connectivity, amenities, floor plate efficiency, and technical features.
Eco Friendly CDL Condo near Nex Shopping Centre
The consequence is that SMEs are still behaving rather sluggishly when it comes to getting with the ‘green program.’ These companies (which usually have fairly narrow profit margins and increased price sensitivity) are more likely to stick with older, less centrally located, non-green constructions which, nevertheless, command lower rent prices for Serangoon CDL Condo. These office spaces are appealing not, specifically, because they are not green, but because they are older and cheaper.
A spokesperson for the NUS School of Design and Development said: “If you examine the top selection of eco-friendly constructions, you will find that they are also the premium Grade-A office spaces, so the rent prices are always going to be high. Yet, if you are an SME and you do not have to pay this higher rent, why would you do it?”