A pilot Nabers energy-rating program taken up by CBRE in Hong Kong will be trialled on nine Link REIT Hong Kong shopping centres.
Using tried-and-tested methodology, CBRE will be looking at specific features such as floor layout, opening hours, energy consumption, carpark provisions and vacancy rates. The Nabers energy assessments, devised in Australia, are an industry first for Hong Kong, secured on an exclusive basis by CBRE’s Asia Pacific sustainability team.
About 143,000 sqm of selected assets in Link REIT’s retail portfolio in Hong Kong will be assessed to benchmark building performance, as well as identify energy-saving possibilities and help improve the portfolio’s efficiency. Link REIT is the largest real-estate investment trust in Asia in terms of market capitalisation, with a portfolio comprising more than 1 million sqm of retail space.
CBRE’s Pacific director of sustainability Emma McMahon says the project is evidence of the growing importance of sustainability in real estate.
“This pilot project is indicative of the growing number of owners and fund managers in Asia seeking proven approaches to verify the sustainability performance of their portfolios – largely as a response to institutional investor demand.”
Link’s GM of sustainability Calvin Lee Kwan says Link in 2010 implemented a comprehensive and ambitious energy-management strategy that so far has achieved a more than 26 per cent reduction in energy consumption across the portfolio.
“The Nabers pilot will allow us to assess the energy performance of our assets using a tried-and-tested methodology, and to benchmark asset performance internally as well as externally.”
Undergoing the assessments are Chung Fu Plaza, Hau Tak (II) Shopping Centre, Leung King Plaza, Lok Fu Plaza, Lung Cheung Plaza (Temple Mall North), On Ting Commercial Complex (also known as H.A.N.D.S), Stanley Plaza, Wong Tai Sin Plaza (Temple Mall South) and Yau Oi Commercial Complex (also H.A.N.D.S).