Ecology, Estonia, Investments, Real Estate
International Internet Magazine. Baltic States news & analytics
Monday, 29.05.2023, 01:57
Green thinking driving commercial real estate market as demand for environmentally certified buildings grow amongst tenants and investors

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The BREEAM assessment method takes into consideration the environmental
impact of the building, comfort and wellbeing of employees working in the
building and its visitors and energy efficiency. According to CEO of East
Capital Madis Raidma, environmental
issues have a significant impact on the real estate market: “More and more
companies, i.e. our potential tenants, are measuring their ecological footprint
and looking for high-quality workspaces that correspond to international
standards. Thus the investors as well, are interested in internationally certified
real estate portfolios.” According to Raidma, in some cases, such certification
may literally be the main condition for landing an important anchor tenant.
The Metro Plaza certificate corresponds to the very good BREEAM
level, and the assessment was conducted based on factors as health and
wellbeing, as well as energy-, transportation-, water efficiency, building
materials, waste management, use of land and pollution. “Some of the main
strengths of Metro Plaza include efficient water consumption, waste handling,
and of course location of the building in the heart of Tallinn, as it is
accessible by public transport, on foot or on a bicycle. In addition to that,
we have built a green area on the only terrace of the building, and installed
additional parking places for bicycles,” said Raidma, adding that one of the
factors that had a positive impact on the assessment was the glass facade,
which ensures a bright work environment.
According to Raidma, the BREAAM certification has become a strategic goal
for East Capital, as consideration of aspects related to energy and
overall efficiency in the course of management and development of buildings,
are becoming an increasingly stronger argument for investors. “Aiandi 13
was another building from our portfolio that received the certificate. It was
rated as very good in June last year, and as far as we know
this was the first time BREAAM certificate has been issued to a Tallinn office
building that was already in use,” added Raidma.
According to Erkki Seinre, a certifier
working in BuildingLabel OÜ, in order for Metro Plaza to obtain the
BREAAM certificate on a very good level, certain improvements
were also necessary. “The building had its own advantages, such as brightness
which allowed to reduce the use of lights and therefore save electric power,
separate operation of heating and cooling in workspace, as well as good leisure
conditions for the employees such as the roof terrace on the 3rd floor
– a green area which also helps to reduce rainwater drainage. Still, in order
to achieve compliance with the BREEAM requirements, additional bicycle parking
places and containers for sorting waste were added, and a large part of
plumbing equipment had to be replaced in order to increase efficiency of water
use,” explained Seinre.
East Capital Real Estate is
the leading real estate management company on the market of the Baltic States,
the teams of which operate in all three of the countries. The company manages
three funds the total value of which is 430 mln euros, which include 382,000
square metres of lease spaces on 24 different registered immovables
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