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Asia Pacific Commercial Real Estate Owners Focusing on Resiliency as Environmental Risks Increase

Monday, July 08, 2019
By A Business Reporter

Asia Pacific commercial property owners and managers are deploying greater resources towards ensuring buildings are more resilient to the long-term environmental challenges. The deepening industry focus on enhancing resiliency in commercial real estate assets is resulting from the coordinated efforts of building owners, tenants, contractors and local authorities, according to CBRE’s Global Resilience & Property Management 2019 report.

The resilience of property portfolios to environmental stresses is a growing concern for real estate investors with a long-term horizon.

Rajesh Pandit, MD, Global Workplace Solutions & Property Management said, “Extreme weather events, climate change and natural disasters are now ranked as the top 3 global risks, according to the World Economic Forum. As the increasing risk of natural hazards becomes a reality across Asia Pacific and in India, investors are realizing the importance of future-proofing their property portfolios. Buildings with comprehensive resiliency plans more effectively overcome challenges when they inevitably arrive, which has a direct and positive impact on marketplace competitiveness and investment return”.

Interviews with top property professionals globally show that commercial property owners, in partnership with their property managers, are taking more deliberate steps to ensure safety and resiliency against rising sea levels, hurricanes, earthquakes and wild fires.

The report also discusses the key role property managers play in understanding and assessing the vulnerability of a property to risks, based on location and region, and and in navigating a risk should one arise.

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