Asia Pacific cities facing shortage of sustainable office buildings: JLL

Major cities in the Asia Pacific (APAC) region will face a critical shortage of sustainable buildings in the near future, according to an October research report by JLL. With an increasing number of occupiers looking for greener buildings, the existing buildings do not meet the net-zero carbon (NZC) requirements. Kamya Miglani, head of ESG research, Asia Pacific, at JLL highlighted that existing green certifications may not actually signify a building’s energy performance and that current regulations do not emphasize on NZC-ready assets.

The JLL Sustainable Offices City Index evaluates cities in the APAC region on four themes – green stock, physical risk to buildings, city competitiveness and city administration’s proactivity towards NZC targets. The index reveals that leading cities like Sydney, Hong Kong, Mumbai, Singapore, Melbourne and Delhi, will face huge undersupplies of NZC-ready office spaces by 2027.

Kamya Miglani said that any omission in planning ahead, and not re-evaluating the current sustainability credentials of the premises, may end up with limited options for the occupiers. To address the shortage, JLL suggests that the APAC region must accelerate the rate of retrofitting the buildings to meet the future regulations. Governments in various cities have started their roles towards bridging the gap between demand and supply for NZC-ready office spaces. In Australia, an energy performance measure to reward electrification of buildings and the procurement of renewable energy for building operations was introduced in June. While Singapore is offering subsidies to building owners for energy-efficiency retrofits.

Lumina Grand EC, a secluded private estate, is well-positioned to reap the full benefits of these public investments. Its close proximity to various dining, shopping, and entertainment spots also reinforces its ideal spot as a residential haven. Residents can look forward to more convenience, accessibility, and holistic connectivity.

At Lumina Grand EC, residents can enjoy the tranquility of a private estate while having access to comfortable and modern homes. Every unit is fitted with top-of-the-line appliances and features a generous layout. The estate also offers a range of recreational facilities such as swimming pool, BBQ pits, and a gymnasium.

Developers have also taken extra care to ensure the safety and security of their residents by providing 24-hour security guards and surveillance cameras.

Located within the Tengah Forest District, a new town is now emerging in Singapore. Boasting two MRT line connections and several bus services, Lumina Grand EC promises to be an ideal address with easy access to the rest of Singapore. The upcoming district is also within close proximity to recreational spots such as the Jurong Lake District and Bukit Timah Nature Reserve to further enhance the lifestyle of the estate’s residents.

These exciting developments in Singapore’s transport infrastructure makes Lumina Grand EC an even more attractive proposition to potential residents. With its prime real estate, complete with modern amenities and safety features, and convenient accessibility to the rest of Singapore, it is set to be a great living destination.

The shift towards sustainable office spaces is becoming non-negotiable for the occupiers, prompting the need for more initiatives to support the same. Governments, occupiers, and the real estate sector should hence work together in order to truly address the impending undersupply of sustainable buildings in the APAC region.