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Sustainability in Real Estate: Conclusions and Prospects

Progress under sustainability principles is now widely accepted as the goal that every society should pursue. Whilst the built environment has imbibed these sustainability principles just like many other sectors, scholarly works that bring together experiences of real estate and sustainability are limited. Contributors to this book in accordance with the aim of the book examine real estate and sustainability in the developing world drawing on experiences from several countries. This conclusion chapter summarises the discussions in the book highlighting implications and prospects. The chapter notes that the threat to the destruction of the environment in the developing world is real and the real estate and urban development sector is at the forefront of this threat. Furthermore, although adoption of sustainability principles is seen as very relevant to abate the threat, progress in uptake of the principles within the real estate and urban development sector has rather been slow due to lack of incentives, funding, technology and robust policies; inadequate knowledge and awareness; and poor planning among others. Changes in practices from business as usual to ones which promote effective planning, building knowledge and databases through research and increase in funding for sustainable projects and education among other things as ways to improve uptake are proposed with the recognition of huge prospect for developing countries to overcome the current situation given recent initiatives and available knowledge.