Net-zero offices in Hong Kong, Asia face supply crunch by 2030 as 87% of occupiers need them to hit carbon targets: JLL
- Supply will not satisfy the demand from occupiers aiming for 100 per cent green-certified portfolios by 2030, research says
- The mismatch will drive strong competition for such facilities in the next six years as well, JLL says
Companies striving to meet ambitious decarbonisation targets across Asia-Pacific may crash straight into a shortage of environmentally certified office space by 2030, according to a forecast by real estate consultancy JLL.
The supply of so-called net-zero carbon (NZC) office space will fall short of demand, as 87 per cent of real estate occupiers in Asia-Pacific are targeting 100 per cent green-certified portfolios by 2030, JLL said. The mismatch will drive strong competition for such facilities in the next six years as well, the company said.
“One of the major challenges is the limited supply of green-[certified] buildings,” Helen Amos, JLL’s head of sustainability in Hong Kong, said in a statement on Monday, adding that the shortage in the city will be particularly acute.
“The supply may not be able to meet the increasing demand in the long term. Even including the projects in the pipeline, the majority of buildings in Hong Kong will not [be] green certified.”
However, retrofitting existing buildings can deliver environmental performance on par with, or even exceeding, that of newly constructed buildings, she said.
