Green Building Certification Important in Czech Republic

GREEN commercial property certification has become evermore important to tenants across the Czech Republic.

Prague’s City Green Court complex, which is currently being developed by Skanska Property, is the first project in the Czech Republic to receive LEED Platinum pre-certification. PricewaterhouseCoopers (PwC) have taken a pre-lease on office space in this development.

“I can confirm that PwC chose from among several projects and an environmentally friendly approach was one of the main criteria,” says Jaromír Smetana, Business Development Director at the Prague office of DTZ, Global Real Estate Advisors, who helped with the lease transaction.

Lenka Šindelářová of DTZ’s Consulting & Research Department, explained the growing importance of green certification: “Developers are responding very flexibly to this trend in demand. In Prague alone, early 124,000 sq m of offices, which should be certified using one of the recognised international methods, are currently under construction or being renovated. By 2013 office projects with a combined area in excess of 400,000 square meters will be strengthened with a certificate.”

According to the latest study conducted by DTZ, focus on “green” and energy efficient buildings, certification takes into account the energy efficiency, energy consumption, CO2 emissions, processes and materials used in construction.

DTZ, claim that besides tenants of the Czech Republic’s green buildings, investors will also continue to monitor the trend for sustainability as green buildings represent lower risk for investors. It is predicted that such buildings will be more competitive than uncertified buildings for re-leasing, will have a lower risk of obsolescence and will also better fulfill increasingly stricter demands imposed by Czech and European legislation.

Picture of Prague at Night by Christopher Woo

Wednesday 27th July 2011

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