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RICS: Sustainability Still an Issue for Business Despite the Downturn

August 19, 2009

RICS Global Property Sustainability Survey, Q2 2009

HONG KONG (RPRN) 8/19/2009--Sustainability remains high on the agenda despite the worsening economic climate, according to the latest global property sustainability survey recently released by RICS in UK.

Over 40 percent of respondents believed that sustainability is a more important issue for their clients now than it was this time last year, whilst around the same amount felt it was just as important. Less than a tenth of those responding felt that it was less of an issue for their clients.

It appears to be business bottom line that is driving the sustainability agenda not just in the UK but across the globe. In the UK, 33 percent of surveyors questioned suggested that this was the most significant driver for their clients. Legal compliance, clients demand, marketing purposes and competitive advantage were other reasons that were cited. In China and Germany, client demand was the most favoured response while in Japan it was the desire to gain a competitive advantage.

When questioned on whether or not companies would be prepared to pay a premium for a green building, on average it was the government departments and oil companies who were perceived to be more willing. In the UK, it was felt that government departments would be willing to pay a maximum premium of around 12 percent while oil companies would be willing to pay a 10 percent premium. Both China and Japan reflected the similar results with government departments and oil companies perceived to be willing to pay larger premium than typical occupier and investor.

Mr. David Tse, RICS International Governing Councillor and Chairman of External Affairs and Public Concerns Committee of RICS Hong Kong, said, "As a Professional Institution, RICS Hong Kong will encourage member engagement in sustainability understanding and application, assist the general public, external stakeholders, and the government to identify and prioritise the key sustainability themes in Hong Kong, including climate change and mitigation, climate change and adaptation, waste and materials, sustainable development and communities, zero carbon and energy saving homes, heritage buildings etc. by making reference to international experience and expertises."

Mr. Kenneth Chan, spokesperson of RICS Hong Kong, said, "Governments should remain as the key drive in pursuing sustainability. RICS, in UK and in Hong Kong, is working closely with the local governments to put forward practical policies with an objective to build a sustainable future."

About RICS & RICS Asia

RICS (Royal Institution of Chartered Surveyors) is the mark of property professionalism worldwide. It covers all aspects of property, construction and associated environmental issues. RICS has 140,000 members globally and represents, regulates and promotes the work of property professionals throughout 122 countries.

The RICS Asia supports a network of over 9,000 individual professionals across the Asia Pacific region with an objective to help develop the property and construction markets in these countries, by introducing professional standards, best practice and international experience. It promotes RICS and its members as the natural advisors on all property matters. It also ensures that services and career development opportunities are provided to members.

The RICS Asia region covers national associations and local groups locating in Brunei, Malaysia, Singapore, Thailand, The People's Republic of China and the SAR Hong Kong. It also has members working across the region such as Bangladesh, Bhutan, Burma/Myanmar, Cambodia, Indonesia, Japan, Kiribati, Laos PDR, Macao, Mongolia, Nepal, North Korea, South Korea, Taiwan, The Maldives, The Philippines, Timor East and Vietnam. For more information, please visit: http://www.ricsasia.org/ .


Source: Royal Institution of Chartered Surveyors

Contact:
Ms Belinda Chan or Ms May Cheung, +852-2372-0090, fax, +852-
2372-0490, mobile, +852-9379-3045 or +852-9099-2218, or belinda@creativegp.com
or may@creativegp.com

Web site: http://www.ricsasia.org/

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