A real estate panel on retrofit financing

Posted by:
Colin Dyer
Chief Executive Officer, Jones Lang LaSalle

The following post is an excerpt from Colin Dyer’s blog commentary on the World Economic Forum at Davos, Switzerland. To read the entire post, click here.

The real estate group met Friday afternoon. The Forum has been working steadily, with input from our firm, on ways to finance retrofit and modernization projects in existing real estate, to bring it up to the best environmental standards and add to its value at the same time.

That work is taking two paths. First, the group is comparing countries which have moved furthest and fastest in this area, using Australia and Germany as models of progress. The goal is to find out what has worked best in terms of regulation, incentives, tax credits, lease structures and public campaigns. The group is also investigating new structures for financing retrofit projects, looking to the U.S. for examples of new methods of creative financing and incentive structures.

This is ongoing work. There are no conclusions yet, other than a consensus that the recession has not reduced the steady increase in attention to energy efficiency and sustainability in buildings, an area in which we are the industry leader.

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