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The Importance of Green Real Estate Planning and Development

Author

Listed:
  • Assina Ayoob Khan Mohamed Hamid Ali

    (Riga Technical University, Riga, Latvia)

  • Srinivasan Nirmalkumar

    (Riga Technical University, Riga, Latvia)

  • Lapuke Sanda

    (Riga Technical University, Riga, Latvia)

  • Bode Ilmars

    (JSC “Rīgas Siltums”, Riga, Latvia)

Abstract

Green real estate (GRE) planning and development have become critical to achieving environmental sustainability and urban resilience. This paper explores the importance of incorporating eco-friendly techniques into real estate developments, with a focus on lowering carbon footprints, increasing energy efficiency, and encouraging sustainable land use. Regulatory rules, market demand, and technical breakthroughs are all key drivers of green development. The study emphasises the advantages of green buildings (GB), including better health outcomes, lower costs, and higher property values. By evaluating case studies and current research, this study emphasises the importance of stakeholders implementing sustainable practices to reduce environmental consequences and promote long-term economic growth. The findings call for a coordinated approach between governments, developers, and communities to ensure the success of green real estate programs.

Suggested Citation

  • Assina Ayoob Khan Mohamed Hamid Ali & Srinivasan Nirmalkumar & Lapuke Sanda & Bode Ilmars, 2024. "The Importance of Green Real Estate Planning and Development," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 12(1), pages 245-257.
    • Handle: RePEc:vrs:bjrecm:v:12:y:2024:i:1:p:245-257:n:1016
    DOI: 10.2478/bjreecm-2024-0016
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