Mixta Africa, a real estate development company renowned for its interest in affordable housing, says there are economic and social benefits in embracing sustainability in real estate projects management.
The company explains that this practice will ensure that real estate assets buyers or end users benefit from reduced energy and water bills, higher resale and rental values, and help reduce carbon footprint.
As part of its strategy to integrate sustainable practices into one of its developments called Marula Park—a 984-unit residential development project at Lakowe— the company reveals that it has been registered for EDGE Certification, adding that other developments are also embracing this strategy.
The company explained in a statement obtained by BusinessDay at the weekend that Green Project Management (GMP) or Sustainable Project Management is the application of methods, tools, and techniques to achieve a stated objective while considering the project outcome’s entire lifecycle to ensure a net positive environmental, social, and economic impact.
For projects to achieve all these and make the desired impact, a number of steps have to be taken along with critical environmental considerations. These include site selection and design, energy efficiency, materials and resources, social inclusivity as in community engagement and affordable housing.
Site Selection and Design: Optimal site selection and thoughtful design can significantly reduce the environmental footprint of a real estate project. Choosing locations that minimize habitat disruption, maximize natural light, and incorporate green spaces contribute to sustainability.
Energy Efficiency: Implementing energy-efficient technologies and design principles is crucial. This includes the use of renewable energy sources, high-efficiency HVAC systems, and energy-efficient lighting to minimize energy consumption and greenhouse gas emissions.
Materials and Resources: Sustainable construction materials and responsible resource management are key components. Using recycled or locally sourced materials, reducing waste, and implementing recycling programmes contribute to a project’s overall sustainability.
Social Inclusivity: This has to do with community engagement as sustainable project management involves engaging with local communities to understand their needs and concerns. It also has to do with affordable housing since integrating affordable housing options within real estate developments promotes social inclusivity.
The company explains further that all these steps are crucial to developments, considering that the global real estate and construction sectors both play a pivotal role in shaping the built environment with the construction value chains accounting for an estimated 40 percent of energy and industrial-related CO2 emissions globally.
This means that without additional mitigation and adaptation efforts, emissions are estimated to increase by about 13 percent by 2035.
The company, therefore, advises that development companies should embrace sustainable practices, believing that by embracing environmentally friendly practices, promoting social inclusivity, and ensuring economic feasibility, the real estate and construction sectors can contribute to a greener and more sustainable future.
