Smart Green Buildings Spell Success for Municipal Recovery
Image
The world’s urban population will more than double its current size by 2050. As a result of unsustainable construction practices, buildings where urban residents live, play, and work account for almost 40% of energy-related greenhouse gas emissions.
Prioritizing green investments and smart building retrofits will help municipalities stimulate a sustainable post-pandemic recovery. A green investment strategy will create local jobs, reduce the burden on utilities, and improve government operating budgets.
An IFC analysis brings welcome news to municipalities. Building retrofits represent a $1.1 trillion investment opportunity, and could create 25 million new jobs globally by 2030. Policies to stimulate green construction could create another $25 trillion in investments in the same time span.
Buy into Ihlathi while interest rates are low iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Time to cash in on your vacant office space. Hereâs how to convert it into apartments
By Bonny Fourie
Share
Some South Africans are living in luxury apartments with no idea that the spaces used to be offices.
In coming years more vacant offices in central nodes are likely to be converted into entry-level or even upmarket apartments.
This growing conversion trend first hit in the late 1990s, and while Cape Town, Durban, and Johannesburg were the main metros targeted for these redevelopments, more than 30 years later, many decentralised nodes are being targeted.
This was also in line with densification policies in major urban areas and CBDs across the country, says David Green, president of the South African Property Owners Association (Sapoa).
Supplied
Redefine says the 14.7% vacancy rate in its office portfolio is the highest in its recent history.
The landlord has also received requests from four big tenants who want to downsize their office space.
It is considering converting some existing offices into co-working spaces and bring in amenities such as childcare facilities, laundromats and coffee shops to its office buildings.
Redefine Properties has experienced the highest vacancy rate in its office space - at 14.7% - since its formation in the early 2000s.
The company - which owns a considerable number of office parks in Sandton, Rosebank and Bryanston, to mention a few - recorded vacancies that were higher than the national average of 13.5% as at December 2020, when excluding sub-lettable space.