Property giants go green as the penny slowly drops

2 May 2012

A year ago Moneyweb reported that only three out of nine property funds listed on the JSE had elected to participate in a voluntary exercise to measure the carbon footprint of the JSE's top 100. Listed funds that failed to respond to an online questionnaire include Redefine, Capital Property Fund, Fountainhead Property Trust, Hyprop Investments and Pangbourne Properties.

Sentiment is apparently turning, as an increasing number of property developers opt for sustainability - not only as an alternative building initiative, but also as a selling point to discerning buyers.

Upon inquiry, Hyprop responded by saying it had implemented a "green policy" throughout the group. It added that as a member of the Green Building Council of South Africa (GBCSA), the company had undertaken to ensure its buildings were managed in an environmentally sustainable way with minimum negative impact on the wider community. In an e-mail, the company added: "All of Hyprop's shopping centres use an independent contractor to monitor that energy savings comply with the requirements set by the local council."

For example, Hyprop says, for the year ended December 31 2010 Canal Walk in Cape Town achieved a reduction in maximum demand of 40% below the industry benchmark - 34% below the SANS 204 standard - while reducing electricity consumption (kWh) to 3% below the industry benchmark. In addition, Hyprop told Moneyweb, all of the centres have had energy saving lighting installed and closely monitor air-conditioning and water usage.

Read the full article on www.moneyweb.co.za.