Property in Malta
Have You Heard The New PROPERTY BUZZ WORDS On Everyone's Lips?!
01.12.20 | Michael Paris
Have you heard the new buzz word in the property market? Most people have heard the term LEED or BREEAM certified, but what is it exactly?
LEED stands for Leaders in Energy and Environmental Design. It is the most widely used green building rating system in the world and was developed by the not-for-profit organisation U.S. Green Building Council (USGBC) to set a benchmark for the design, construction, operation, and maintenance of green buildings aiming to aid property owners, contractors and property managers to be environmentally responsible and use resources efficiently.
The way that the LEED Certification works is that it includes a set of rating systems for the design, construction, operation and maintenance of the property, which results in a number of points. According to the number of points earned by the property, it would be awarded a certificate in the following categories:
Buildings can qualify for four levels of certification:
- Certified: 40-49 points
- Silver: 50-59 points
- Gold: 60-79 points
- Platinum: 80 points and above
Similarly, BREEAM stands for Building Research Establishment Environmental Assessment Method. It is a sustainability rating system designed by BRE Group. The rating system ranges from Unclassified(>30%) to Outstanding (85% +) and is based upon Energy, Land use and ecology, Water, Health and wellbeing, Pollution, Transport, Materials and Waste Management. This rating system is currently recognised in over 70 countries worldwide, including Malta, with over half a million projects certified.
So, What is the significance of these Certifications?
Green buildings are becoming increasingly important and tenants are demanding more sustainable buildings. Both LEED & BREEAM certifications will enhance the image and marketability of the property and establish it as a leader in green building. Due to the fact that sustainable buildings are more positively perceived in today’s market, lease rates tend to be a little higher as the certification adds great value to the prospective property. Green buildings also cost less to operate as they use fewer resources like water and energy and generate less waste, leading to decreased utility costs.
Green buildings support a healthier indoor space. Benchmarks such as thermal comfort, indoor air quality, and interior lighting support the comfort and health of building occupants. They have been shown to boost productivity as well as retain tenants for longer stays, studies show (See here to read more). These certified buildings reduce stress on the environment, they are more energy and resource-efficient and they generate less waste and lower the use of energy, water, and other resources.Points can be earned for storage and collection of recyclables, renewable energy use, and indoor water use reduction. Take a look at some Certified projects in Malta below.
Projects in Malta that are LEED Certified:
- SCM01 is the first building in Malta and in Smart City Malta to be awarded LEED Silver certification by the USGBC in 2012
- The Shoreline is a landmark private project by Shoreline Contracting Limited within SmartCity Malta in 2021
- The Tigne Point Office block
- The Quad, Projected to earn Platinum Certification
Projects in Malta that are BREEAM Certified:
- Skyparks, Luqa
- Trident Park, Mriehel projected to earn Excellence Certification
- Avenue 77, Mriehel
The demand for sustainable projects is increasing year-on-year and this mentality has also hit our Islands. Looking to work in one of the properties built to last long into the future? Or interested to know more? Contact us on +356 7937 1629 or send me an email on [email protected] and we, at QLC more than happy to assist you. Let's make Malta’s workspace GREEN & build a more sustainable future!