According to Dublin-based Research and Markets, which has just added Frost & Sullivan's new report "Green Buildings - A Strategic Analysis of the Asia Pacific Market" to their offering, close to 30 Percent of the new buildings in the Asia Pacific are expected to be green by 2015.
The say that “Governments and Green Building associations, for their part, should closely collaborate and offer more incentives to the builders” to help in their efforts to deliver these projects.
Green Buildings are seen as potential solution for various environmental problems. Non-governmental associations and Green Building councils are boosting the market with Green Building certifications tools and other initiatives. Level of awareness on Green Buildings is rising significantly with the educational courses and trainings organized by Green Building councils and related organizations. Commercial buildings and offices together with residential buildings are the two major market sectors in most Asia Pacific countries. Emerging sectors are educational, industrial, and recreational building sectors. Future growth in retrofitting or renovation of existing building will help transformation of existing buildings into Green Building. As a market overview the report states that "With Greater Awareness, Markets for Environment-friendly Buildings in the Asia Pacific Likely to Experience a Rub of the 'Green'"
In the current straitened circumstances, the high-cost Green Buildings market in the Asia Pacific has been propped up by governments' and Green Building councils' regulations, incentives, and certification systems. Such measures are vital to survive in a market where the level of awareness about the long-term benefits of Green Buildings is markedly low, especially in countries such as Malaysia and Indonesia. This issue, compounded by the high upfront costs of the buildings and early market development stage in some countries, makes it imperative for builders to depend on regulatory support and Green Building Certification programs. The councils are playing a pivotal role in increasing the awareness and knowledge about the advantages of Green Buildings among various stakeholders. Already, market stakeholders in Australia, Singapore, and Hong Kong are well educated about the merits of Green Buildings. New government initiatives such as Neutral Carbon Emission 2030 strategies will further promote the market.
These marketing efforts are not a recent development. Green Buildings have been promoted since 2000 but the market has still not realized its potential and this offers substantial scope for growth. Nearly 14 percent of the new buildings in developed countries such as Australia and Singapore are Green, and the rest of the countries in the region are expected to follow suit. In fact, close to 30 percent of the new buildings in the Asia Pacific are expected to be Green by 2015. "To achieve such success, developers across countries need to exchange Green Building materials and resources, as well as upgrade their expertise, skills, and practices related to Green Building development and management," says the analyst of this research. "Governments and Green Building associations, for their part, should closely collaborate and offer more incentives to the builders."
Builders will also be hoping to benefit from corporate social responsibility as well as Green Building recognitions, as Green brands have better marketability. Although builders win considerable orders from government and non-government projects, most of their business is expected to come from premium customers. Interestingly, the next wave of growth will be seen in buildings that target middle-class consumers. "The Asia Pacific Green Building market aims to promote sustainable building constructions all over the world," notes the analyst. "Green Buildings in Asia Pacific markets encourage environment-friendly practices within the construction and building industries as well as provide better design, healthier environment, energy-efficient offices and homes, and ultimately, higher productivity."
