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One of the main incentives for a building to be ‘green’ is the reduced consumption of energy and other material resources that the building can achieve. In Russia the reason behind ‘green’ development is not so obvious due to lower energy prices as opposed to the Western countries, and therefore, the question of saving resources is not so topical.Ksenia Agapova commented: “In Moscow, being ‘green’ is a tool for differentiation of the commercial assets and is seen as a new approach for revaluing portfolios and a way in offsetting future risks in energy prices, obsolescence. An important role is also played by the prestige of occupying an office in a ‘green’ building. Due to several global requirements the market saw a number of foreign companies applying the ‘green’ standards to their Moscow office headquarters. Interest is coming as well from Russian tenants seeking to improve the quality of their office premises and working conditions of their employees. Developers and investors are increasingly interested in investing into ‘green’ construction, similar to their colleagues in other European countries.”Jones Lang LaSalle research unveils the main pros and cons of ‘green’ office for both investors/developers and occupiers.For investors and developers main pros are:
• Cost savings during the building operation
• Reduced risk of increasing operational expenses due to growing prices of energy resources
• Additional opportunities for prospective investments
• Low vacancy rate
• Longer lease agreements
• Reduced risk of obsolescence of the object in the future.
As for the investors and developers cons, they are increased costs and (possibly) longer construction period, as well as longer payback periods.
Pros for tenants are:
• Compliance with policy of corporate social responsibility
• Prestige of having an office in a ‘green’ building
• Lower utility costs
• Increased employees’ loyalty and productivity.
Main cons for tenants are the lower choice of ‘green’ buildings on the market and additional requirements for fit-out from owner’s side.
About Jones Lang LaSalleJones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 242 million square meters and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $47.7 billion of real estate assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Aktau. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008, 2009, 2010, 2011, 2012 and 2013 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg.For further information, please visit www.jll.ru
Natalia Kopeychenko, Head of PR
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