High-issue real estate set to depreciate over the next five years
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High-issue real estate set to depreciate over the next five years
Michael Jansen, CEO and Founder of Cityzenith
Brooklyn shipyard in New York
Cityzenith’s urban digital twins and the Race to Zero webinar series
Commercial properties without plans to reduce carbon emissions will soon drop in value
– Michael Jansen, CEO of Cityzenith
CHICAGO, ILLINOIS, USA, September 16, 2021 /EINPresswire.com/ – High-issue real estate set to depreciate over the next five years
Commercial properties without plans to reduce carbon emissions will soon drop in value.
That’s the stern warning to their owners from the new IPSX real estate exchange, sustainability data and consultancy firm Carbon Intelligence, in a joint report on net zero initiatives for commercial real estate market valuations. UK.
Its findings take into account the UK government’s commitments to a 78% reduction in greenhouse gas emissions by 2035 and increasingly stringent energy efficiency standards.
Oliver Light, Real Estate Commercial Director of Carbon Intelligence, said: âBy not investing CAPEX (capital expenditures) now into a long-term, net-zero strategy, not only will you (building owners) miss out on short-term benefits. term associated with a building that generates a high demand for tenants, due to minimal energy costs, prestige and ESG references, but you will also have to invest as much or more to deal with obsolescence due to non-compliance, voids and building capital depreciation. “
A separate study by investment management service provider Fidelity International found that 97% of commercial real estate in Europe currently cannot withstand a net zero transition.
âToday’s liquidity conditions mean that valuations do not yet reflect the stark difference between buildings that are ready to support the low-carbon transition and those that are not,â the Fidelity report says.
“It won’t last forever, and homeowners who delay investing in the renovation might come to regret it.”
Market leader Digital Twin Cityzenith is helping building owners achieve net zero with its SmartWorldOS software platform. Digital Twins aggregates massive amounts of data, enabling powerful building analysis on an unprecedented scale.
Cityzenith CEO Michael Jansen said: âThe next decade is crucial for the future of the built environment in cities. With SmartWorldOS, our advanced Digital Twin platform, building owners can reduce emissions to zero while increasing the value of real estate assets. We plan to demonstrate this through our âClean Cities – Clean Futureâ (CCCF) campaign while decarbonizing urban areas around the world.
âWe will use the CCCF to sponsor urban implementations of Digital Twin in 10 to 15 major cities, helping commercial building owners to significantly reduce carbon emissions. The Brooklyn Navy Yard in New York was the first to join the initiative. Phoenix (the fifth largest city in the United States) is expected to follow next, along with many other cities.
âIn each city, 5-10 large building owners will leverage Cityzenith’s breakthrough technology to determine an optimal smart building and financial strategy to achieve net zero emissions. Projects will track reductions in energy costs and emissions, productivity gains and property values. “
Cityzenith aims to complete each project in nine months. Other participants in the project include municipal government agencies, universities, architects and town planners.
Cityzenith is offering a new free webinar series in collaboration with Cities Today titled âUrban Digital Twins and the Race to Zeroâ, a unique opportunity to hear CEO Michael Jansen talk about this revolutionary technology – please register here for the next event â Digital Twins to save cities $ 280 billion on October 21
Ends
Cityzenith is based in Chicago with offices in London and New Delhi. The company’s SmartWorldOS Digital Twin platform was created for anyone designing, building and managing complex and large-scale construction projects, properties and real estate portfolios, but has grown to cover infrastructure, projects energy, transport, health, movement of people and entire cities. .
For an interview with Michael Jansen, CEO of Cityzenith or for more information, please contact: [email protected] or +44 7973 159065
Steve Philippe
Global digital foundation
+44 7973 159065
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