Going green driving commercial building

Green building has improved interest.

Pike Research reported that due to a recent spark in interest, more property management companies have attempted to increase the number of green developments undertaken.

At present, the number of commercial real estate properties that are environmentally friendly are low in many parts of the world, the report explained. However, technological advancements in construction and improved knowledge on the subject has helped increase the push for these types of properties.

"Technology advances and government policy are causing sweeping changes across the building industry worldwide," said Eric Bloom, senior analyst for Pike Research.

The report noted that in the 10 year period from 2011 to 2021, the market for commercial building automation systems will increase from $72.5 billion to $146.4 billion.

Continued perks from tax incentives, as well as the many tenants interested in working in an environmentally-friendly environment, may help push property management companies to take advantage of such technologies. In addition, these properties may be more attractive, as they have a tendency to save on energy costs in the long run.

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