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LEED-INDIA: Innovation in Real Estate June 13, 2008

Posted by Andrew Myers in Real Estate Development in Global Economy.

Innovation in real estate is moving in the direction of sustainable development, also known as green-building. Although this is a relatively new concept to much of the world, Europe has been leading the way for decades. The United States followed, and the United States Green-Building Council (USGBC) emerged in 1993 and began to formalize a process of sustainable design and construction. The Leadership in Energy and Environmental Design (LEED) process has become the standard and benchmark for sustainable development in the US and now abroad. In terms of commercial development, the construction and certification processes extend from New Construction to Core & Shell to Commercial Interiors to several others, with many new programs coming to market.

India is following suit. They have established the India Green Building Council (www.igbc.in) and implemented LEED-INDIA. Currently LEED-INDIA programs include LEED for New Construction and LEED for Core and Shell. India has vast opportunity for sustainable development as infrastructure and real estate development grows at impressively high rates. The IGBC has the following: 306 members, 230 registered buildings, and 23 certified buildings. Expect to see these numbers increase significantly in the near future as the country hopes to be a world leader in green buildings by 2010. It is the wave of the future, and emerging economies are beginning to see the value and benefits associated with sustainable development.

If you have a question or would like to initiate a discussion, feel free to post a comment.


Andrew Myers


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