In Hong Kong's competitive central business district, one property developer and holding company - Tai Hung Fai - sought new ways to attract tenants, increase rental income, and boost property value for two of its new builds.
Early in its ESG journey but committed to integrating sustainability into its business model, the company's leadership approached Colliers to complete an ESG gap analysis and pursue green building certifications.
Colliers teams in both Office and ESG Advisory services effectively joined forces to examine neighbouring commercial buildings and their tenant mix, identify key tenant groups, conduct a certifications gap analysis, and develop a budget and plan to attract multinationals and other corporate tenants with ESG commitments. These include environmental certifications and amenities to support their professionals' health and wellbeing that would be part of their base-build selection criteria.
The pair of Tai Hung Fai developments combined will total 483,000 sq. ft. Tai Hung Fai has been highly engaged from the start, demonstrating its focus on future proofing its assets. To date, ESG market positioning and strategy development have been completed. Using our expertise, we are now accelerating those strategies through LEED, WELL, and Hong Kong BEAM Plus certifications, targeting Gold level.
Targeting up to 10% energy and 50% water savings, with plans to support tenant health and wellbeing through high-profile amenities and optimized air quality, we also expect to create tangible value and earn a positive return on building investments within one year.