UNCLASSIFIED-NON CLASSIFI Advancing BIPV Standardization:Addressing Regulatory Gaps and Performance.
2024-12-29
60页
5星级
1THE GUIDE TO OFFICE FIT OUT OKTRA GUIDE The Guide to Office Fit OutO K T R A G U I D E S&C H E C K .
2024-12-29
31页
5星级
Copyright 2024.All rights reserved.This report has been prepared in good faith,based on CBREs curre.
2024-12-29
14页
5星级
RIDERSDIGEST2024PHILIPPINEEDITION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.2024BiRider Levett Bucknall Philippines,Inc.NATIONWIDE OFFICESLEGEND:RLB Phils.,Inc Offjce:Manila Sta Rosa,Laguna Cebu Davao Cagayan de Oro Bacolod Iloilo Bohol Clark RLB Future Expansions:Dumaguete General SantosRIDERS DIGEST PHILIPPINES 2024A compilation of cost data and related information on the Construction Industry in the PhilippinesCompiled by:Rider Levett Bucknall Philippines,Inc.A proud member of Rider Levett Bucknall GroupWhile Rider Levett Bucknall Philippines has endeavoured to ensure the accuracy of the information contained herein,it does not warrant its adequacy or completeness and expressly disclaims any liability for any errors in,or omissions from this Digest.Rider Levett Bucknall Philippines,Inc.shall not be held liable for any damages;loss;expenses or costs whatsoever or howsoever arising out of,or in connection with the use of the Digest.The Digest is provided for general information only and should not be construed as cost,legal,tax,or any other professional advice.Professional advice should be sought when utilizing any information in this publication to verify its applicability to specifjc construction requirements and circumstances.This Digest may not,in any medium,be reproduced,published,altered or otherwise used in whole or in part in any manner without the prior written consent of Rider Levett Bucknall Philippines,Inc.Cost information in this publication is indicative and for general guidance only.Prices and rates are as at 3rd Quarter of 2023 and expressed in Philippine Peso unless otherwise stated.References to legislative provisions and regulations are as at 31 December 2023 only.Fifteenth Edition 2024Sta.Rosa,Laguna Ofce:Unit 2C,Amio Place Building,Bel-Air,Sta.Rosa City Laguna,4026 PhilippinesM: 63 917 886 9332E: Ofce:Unit 2-901,9th Floor,OITC 2,Oakridge Business Park,880 A.S.Fortuna Street,Brgy.Banilad,Mandaue City,Cebu 6014 PhilippinesT: 63 32 268 0072 63 32 231 0811 E:Bacolod Ofce:2nd Floor,Paseo Verde,Lacson Street,Mandalagan,Bacolod Negros Occidental 6100 PhilippinesM: 63 929 336 4180E: de Oro Ofce:Unit 4,RMT Building,C.M.Recto Ave.,Lapasan Highway,Brgy.Lapasan,Cagayan De Oro City,Misamis Oriental 9000 PhilippinesM: 63 929 336 4180E: Ofce:Unit 211 Baronesa Place Bldg.,Mc Arthur Hi-way,Dau,Mabalacat City,Pampanga 2010 PhilippinesM: 63 917 569 5258E: Ofce:Sitio Cascajo,LoocPanglao Island,Bohol 6340 PhilippinesM: 63 917 548 1313E: Iloilo Ofce:2nd Floor,Unit 17,The Galleria Bldg.,Jalandoni St.,Iloilo 5000 PhilippinesM: 63 917 528 5616E: Ofce:4th Floor Units 404-405Cocolife Building,Claro M.Recto Corner Palma Gil StreetsDavao City 8000 PhilippinesT: 63 82 225 9093M: 63 929 336 4180E: Ofce:Building 3,Corazon Clemea Compound No.54 Danny Floro Street,Bagong Ilog,Pasig City 1600 PhilippinesT: 63 2 8365 1060 63 2 8365 1583E: Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.2024iiiiiDisclaimer and Contact Information iTable of Contents iiMessage from the Chairman and President viQuality Policy Statement viiiISO 9001:2015 Certification ixPHILIPPINE CONSTRUCTION TRENDSNumber of Construction Projects by Type 2Distribution of Construction Projects 2by Region Value of Construction by Type of Building 3Number and Value of Residential Construction 3Number and Value of Non-Residential 4Construction by TypePHILIPPINE CONSTRUCTION COST DATADefinition of Terminologies 6Building Construction Prices 8Office Fit-Out 10 Hotel Fit-Out 10Refurbishment Works 11External Works 11Building Services-Definition of Terminologies 12Building Services 13Construction Elements 17CONTENTSESTIMATING DATAReinforcement Ratios 28 Average Construction Payment 29Drawdown Vertical Transport Services 31INTERNATIONAL CONSTRUCTIONSpecific Definitions for International 35Construction CostsBuilding Costs 36 Construction Market Activity Cycle Model 40 Sector Data 41PHILIPPINE CONSTRUCTION INFORMATIONBuilding for Ecologically Responsive 44Design Excellence(B.E.R.D.E.)LEED Green Building Rating System 52WELL Building Standard 59(International WELL Building Institute)Excellence in Design for 74Greater Efficiencies(EDGE)Fitwel Healthy Building 76CertificationConstruction Materials Wholesale Price Index 20Summary of Current Regional Daily Minimum 22Wage Rates Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.2024ivvDevelopment Data 81Measurement of Building Areas Government System Implemented 84for Private and Public Construction Construction Industry-Related Agencies 86PROFESSIONAL SERVICES Cost Consultancy 122 Project Management 123Special Services 123INTERNATIONAL OFFICES Asia 126 Middle East 132Africa 133Americas 135Europe 138Oceania 143MISCELLANEOUS Conversion Factors 148 Calculation Formulae 150Foreign Exchange Rate 151IDD Country Codes and Time Differences 152 Philippine Regular Holidays 153and Special(Non-Working)Days Abridged Business Terms 1542024-2025 Calendars 160 Contact Information 162CONTENTSINFRASTRUCTURE Definition of Terminologies 88 Construction Cost Data 92Average Infrastructure Construction 100Payment DrawdownPhilippine Infrastructure Information 101Public-Private Partnership 106Variants of PPP Project Agreements 112Build,Build,Build(BBB)Program 115Construction Regulations 119 Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.2024viviiRider Levett Bucknall Philippines,Inc.proudly presents to you the eleventh Philippine Edition of“Riders Digest,”a compilation of cost data and related information in the Philippine Construction Industry.Rider Levett Bucknall Philippines is a member of the Rider Hunt,Levett&Bailey,and Bucknall Austin Group now RIDER LEVETT BUCKNALL(RLB),an independent global property and construction practice with 140 offices in 80 different countries covering six continents namely OCEANIA,which covers all of Australia and New Zealand;ASIA,which covers The Philippines,China,Hong Kong,Indonesia,Japan,Korea,Malaysia,Singapore,Taiwan,Thailand and Vietnam;EMEA,which covers Europe and Middle East;NORTH AMERICA which covers Phoenix,Boston,Chicago,Denver,Honolulu,New Jersey,Las Vegas,Los Angeles,Florida,Portland Oregon,San Francisco,Seattle,and Washington DC together with Canada;and SOUTH AFRICA which includes Cape Town,Johannesburg,and Pretoria.Our group employs almost 4,000 people in its offices across the world,integrating local knowledge and expertise with access to the global network to provide the best and most up-to-date service our clients deserve.Our open communication and interaction between offices transform to greater experience across every sector in the Construction Industry.The Philippine office is now operating in its 35th year,having commenced its operation in 1989.We have provided our Quantity Surveying and Project/Construction Management Services on over 1,300 projects in the Philippines,ranging from Office Towers,Residential Condominiums,Hotels,Residential Estates,Industrial Development Plants,Institutional Schools,Ports and Harbors,Roads and Bridges,Airports and Airport Buildings,Commercial Centers,Hospitals,BPOs,and Land Development Works.We have also served a number of overseas projects within the Pacific Rim including Guam,Saipan,Palau,Hawaii,Australia,Malaysia,Vietnam,and as far as the Middle East,Pakistan,and Syria.Our corporate vision is to be the leading global practice in our respective market and deliver sustainable and competitive advantage to our clients through the passion of our people and our focus on integrity,professionalism,innovation,team work,and client satisfaction.We have adopted our core values and objectives,together with our global network and in-depth knowledge,making Rider Levett Bucknall Philippines,Inc.truly unique and consistent in providing quality services to our clients.Our combined experience and expertise enable us to provide excellent and efficient services.We protect our integrity,optimize the use of resources,and create maximum performance and value throughout the life cycle of every project we handle.Rider Levett Bucknall Philippines,Inc.is committed to developing tools and techniques that help our clients save costs while getting their desired results,not only at present,but also in the future.The entire Rider Levett Bucknall Group ensures that a significant fund is allocated for research and development programs,uses the latest technology,and develops training to maintain quality staff performance.The publication of our Riders Digest and International Report on Construction Market Intelligence from our global network of offices will continue to be beneficial by providing professional input,expert advise,and value added services to our clients.As key resources in the International Construction Industry,these will prioritize benchmarking of construction services throughout the International market.Rider Levett Bucknall Philippines,Inc.hopes that you find this publication informative and useful,aiding in the successful completion of your construction needs.Corazon Clemea BallardCHAIRMAN&PRESIDENTRider Levett Bucknall Philippines,Inc.Message from theCHAIRMAN AND PRESIDENT Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.2024viiiixQUALITY POLICY STATEMENTISO 9001:2015 CERTIFICATE Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.2024xxiISO 9001:2015 CERTIFICATEISO 9001:2015 CERTIFICATE Rider Levett Bucknall Philippines,Inc.20241 Rider Levett Bucknall Philippines,Inc.2024xiiPhilippine Construction TrendsNumber of Construction Projects by TypeDistribution of Construction Projects by Region Value of Construction by Type of Building Number and Value of Residential Construction Number and Value of Non-Residential Construction by Type Velaris Residences Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.202423PHILIPPINE CONSTRUCTION TRENDSNumber of Construction Projects by TypeThird Quarter 2023TYPENUMBERAdditions1,399Alterations and Repairs2,762Non-Residential8,273Residential25,411TOTAL:37,845Distribution of Construction Projects by RegionThird Quarter 2023Data Source:PSARegion II=1,256(3.3%)Region III=4,288(11.3%)NCR=2,245(5.9%)Region V=1,142(3.0%)Region VIII=1,342(3.5%)Region X=1,853(4.9%)CARAGA=282(0.7%)Region XI=2,643(7.0%)Region XII=1,217(3.2%)CAR=364(1.0%)Region 1=2,820(7.5%)Region IVA=10,595(28.0%)Region IVB=635(1.7%)Region VI=1,580(4.2%)Region VII=4,894(12.9%)Region IX=654(1.7%)ARMM=35(0.09%)Total in the Philippines:37,845TYPE Residential Non-ResidentialAdditionsAlterations&RepairsVALUE(in billion pesos)45.9660.291.006.76TYPENumber of Residential Construction Value of Residential ConstructionSingle House21,735(85.53%)34.72 billion(75.51%)Apartment/Accessoria3,339(13.14%)8.96 billion(19.49%)Duplex/Quadruplex278(1.09%)0.53 billion(1.15%)ResidentialCondominium5(0.02%)1.73 billion(3.76%)Other Residential54(0.21%)0.04 billion(0.09%)Data Source:PSATOTAL:45.98 billionTOTAL:25,411Number and Value of Residential Construction by TypeThird Quarter 2023Value of Construction Projects by TypeThird Quarter 202350403020100Total:114.01 billion60100806040200PercentageAdditions3.70%Alterations7.30%Non-Residential21.86%Residential67.14%Rider Levett Bucknall Philippines,Inc.20245 Rider Levett Bucknall Philippines,Inc.20244PHILIPPINE CONSTRUCTION TRENDSTYPENumber of Non-Residential Construction Value of Non-Residential ConstructionCommercial5,890(71.20%)32.97 billion(54.69%)Institutional1,211(14.64%)13.82 billion(22.92%)Industrial698(8.44%)10.43 billion(17.30%)Agricultural288(3.48%)1.5 billion(2.49%)Other Non-Residential186(2.25%)1.57 billion(2.60%)TOTAL:60.29 billionTOTAL:8,273Number and Value of Non-Residential Construction by Type,Third Quarter 2023Data Source:PSAPhilippineConstructionCost DataGeneral Defjnition of Terminologies Building Construction Prices Offjce Fit-Out Works Hotel Fit-Out WorksRefurbishment Works External Works Defjnition of Terminologies-Building ServicesBuilding ServicesConstruction Elements Construction Materials Wholesale Price Index Summary of Current Regional Daily Minimum Wage Rates 100806040200PercentagePHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.202467General Definition of TerminologiesCentral Business District(CBD)The Central Business District is within the Metro Manila cities of the Philippines.It consists of seven planning areas,namely Makati City,Global City-Taguig,Quezon City,Pasig City,Mandaluyong City,San Juan,and Manila.It is the prime area of all the commercial and financial activities in the region and includes developments from nearby provinces around the perimeter of Metro Manila.The office within the CBD refers to good quality office buildings located at the Central Business District,for the upper range of the rental market and leading owner occupiers,such as head quarter offices for financial institutions and major companies.Offices outside CBD refer to medium quality office buildings that are built for the middle range of the rental market.Construction Floor Area(CFA)CFA is the area of all building enclosed covered spaces measured to the outside face of the external walls,including covered basement and above ground car park,areas.Gross Floor Area(GFA)GFA is the sum of fully enclosed covered areas and the unenclosed covered areas of the building for purposes of planning submissions(refer to Page 81:Measurement of Building Areas for more information).Net Lettable Area(NLA)NLA is the total tenancy area designated for rentable purposes.Building WorksBuilding Works include substructure(piling,foundation,and basement),super-structure,architectural works,finishes and fittings,external works,site works,preliminaries,attendance,and other builders work in connection with services.Building ServicesBuilding Services include mechanical services,including heating,air conditioning,mechanical,ventilation,fire protection system,sanitary,and plumbing;and electrical services,which include electrical installation,vertical transportation,and building management systems.Exclusions;Special equipment Chutes,incinerators,compactors,pneumatic refuse disposal system,facade maintenance equipment,engineered smoke control systems etc.,IT services high speed cables etc.HotelsTypes of hotels listed are based on five-star,four-star and three-star international hotel ratings.Retail Shopping MallsShopping malls with typical amenities and finishes in common spaces.Exclusions:Tenant equipment,shop fittings and finishes in tenancy spaces.Industrial BuildingsQuality reflects a simplified type of construction suitable for light or heavy industries,Exclusions:Special and operating equipment,processing plant and proprietary systems.ResidentialRatio of kitchen,laundry and bathroom areas to living areas and the quality of finishes required will affect the cost range.Range given is significantly affected by the height and configuration of the building.Exclusions:Show apartments.Loose furniture,special light fittings,household electrical appliances,kitchen equipment and building owners special requirements.Institutions of Higher LearningTertiary educational schools such as universities,polytechnics,and other colleges that require full range of educational facilities and amenities.Car ParkAbove Grade minimal external walling excluding mechanical ventilation.Basement diaphragm wall or contiguous bored piles wall with standard mechanical ventilation provisions.PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.202489Building Construction PricesDEVELOPMENT TYPEOfce BuildingsBase BuildBase Build Fit-OutBPOwith Fit-Out Workswithout Fit-Out WorksMix-UsedBPO and RetailOffice and RetailResidential,BPO and RetailHotel and OfficeHotels Including FF&E and Fit-out WorksFive(5)StarFour(4)StarThree(3)StarResortIndustrialWarehouse and Cold StorageDistribution/ManufacturingData Center/Data Hosting CentresInstitutionalSchoolsHospitals with FF&ERetail-Shopping MallsRetail StripShopping MallsResidentialHigh-End Residential BuildingMid-End Residential BuildingLow-End Residential BuildingRow House(1 to 4 storeys)Single Detached(Mid/High-End)Single Detached(Low-End)Clubhouse ClubhouseCarparks Open ParkingSteel Parking BuildingConcrete Parking BuildingMechanical Parking(cost platform and system only)All construction prices for the Philippines are indicative only and are as at Third Quarter 2023.Items generally excluded from the order of costs are land costs,legal and professional fees,development charges,authority fees,finance costs,loose furniture,fittings,art works,tenancy works such as but not limited to Exclusions:*Land Cost*Legal and Professional Fees*Development Charges*Local Authority Fee*Finance Cost*Loose Furniture,Fittings and Works of Art*Tenancy Work*Site Infrastructure Work*Diversion of Existing Services*Resident Site Staff Cost*Models and Prototypes*Future Cost Escalation*Goods and Services Taxsub-divisional partitions in office building and shop fit-out in retail spaces,private telephone systems,site infrastructure work,diversion of existing services,resident site staff cost,models and prototypes,and future cost escalation(unless otherwise stated).All prices stated below include a general allowance for foundation and external works.RANGE OF COSTS PER CONSTRUCTION FLOOR AREALowHighPHP/m243,600139,20090,500261,600PHP/m249,50058,70029,20049,300PHP/m257,30069,70055,00092,90072,400110,10079,600115,100PHP/m2109,100256,50083,200117,20067,70096,50046,900113,600PHP/m274,400161,10042,600230,200210,100617,300PHP/m254,30085,40049,900116,300PHP/m238,00063,50045,10068,700PHP/m266,000107,90052,90064,80040,80052,00026,30084,30059,00093,50031,70042,500PHP/m275,900372,700PHP/m210,90017,90046,80055,60021,30038,20073,000259,600Note:As foreign currency exchange rates fluctuate on a daily basis,we have not converted the Philippine Peso rate to foreign currencies.PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20241011Type of Tenancy Philippine Peso per Square MetreOpen PlannedFully PartitionedOffice Fit-out62,900225,000Type of OffjcePhilippine Peso per Square MetreLowHighOffice Refurbishment72,100150,200Hotel Refurbishment,Guest Room86,400159,000Hotel Refurbishment,Main Lobby94,700241,000Hotel Refurbishment,Restaurant162,000216,000Ofce Fit-Out Works The following costs varies within the wide range and dependent on the quality of finishes specified for good quality office and hotel accommodations.Scope of fit-out includes preliminaries,floor,wall and ceiling finishes,painting,timber fitments,sanitary wares and bathroom accessories,glazing at bathroom,installation of decorative lighting,curtains and blinds.Costs are exclusive of loose items,such as but not limited to furniture,room equipment and appliances,supply of deorative lighting and bedding.Refurbishment WorksThe following refurbishment costs include demolition and removal of partitions and internal finishes,provide new floor,ceiling and wall finishes but excluding fit-out.The lower end of the range indicates re-use and modification.LANDSCAPINGPhilippine Peso per Square MetreLowHighSoftscape4,68034,500Hardscape6,26026,870S&I of Vertical Landscaping or Greenwall34,64035,350CAR PARKS-ON GROUNDPhilippine Peso per CarLowHighOpen Parking165,000269,000Steel Parking Building202,000491,000Concrete Parking Building278,000525,000Mechanical Parking(Cost Platform and System)578,0001,384,000External WorksHotel RatingPhilippine Peso per RoomLowHighFive Star9,180,00013,135,000Four Star6,069,0009,059,000Three Star4,198,0007,946,000Hotel Fit-Out WorksThe cost of typical hotel guest room fit-out varies within its wide range of services and amenities offered and is dependent on the quality of finishes specified for different rating hotels.Scope of fit-out includes preliminaries,wall,floor and ceiling finishes,painting,timber fitments,sanitary wares and bathroom accessories,glazing at bathroom,installation of decorative lighting,curtains,blinds,etc.These costs exclude loose items,such as but not limited to furniture,room equipment and appliances,supply of decorative lighting,and bedding.PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20241213HVAC(Heating Ventilation and Air Conditioning)HVAC includes chiller plant,cooling towers,chilled water,condenser water pumps and pipework,air-handling unit systems,and fan coil systems.It also includes AC ductwork,diffusers,split type air-conditioning units and ductwork,mechanical ventilation(MV)fan system,MV ductwork,diffusers and accessories,AC electrical,and automatic control works where appropriate.Sanitary&PlumbingSanitary&Plumbing works refer to water tanks and pumps,hot/cold water distribution piping,installation of water piping to sanitary ware and fittings,installation of waste piping to sanitary ware,aboveground and underground drainage piping system where appropriate.Fire Protection SystemFire Protection system includes sprinkler,external fire hydrants,hosereels,wet and dry risers,automatic fire alarms,and fire extinguishers where appropriate.Electrical InstallationElectrical Installation refers to power transformer,substation,HV&LV switch gear,distribution/sub-main cables,final sub-circuits,cable support systems and containments.Lightning protection system,earthing system,luminaries and lightning control system,standby generators,telecommunications system,public address system,intercom system,and MATV/CATV system may also fall under Electrical Installation,where appropriate.Vertical TransportationVertical Transport spans Lifts,Escalators,Travelators,Dumbwaiters,etc,where appropriate.Building Management Systems(BMS)BMS include Control Systems(mainly for HVAC services)where appropriate.ExclusionsSecurity Systems,IT systems,AV systems,car parking System,compactors,chutes;special equipment such as proprietary systems,medical gases,incinerators,pneumatic refuse disposal system,facade maintenance equipment,engineered smoke control systems etc.;supply of kitchen equipment.Building Services Definition of TerminologiesBuilding ServicesAs at Third Quarter 2023,in Philippine Pesos per Square MeterDEVELOPMENT TYPERANGE OF COSTS PER CONSTRUCTION FLOOR AREAHVACSanitary and PlumbingFire ProtectionElectrical Vertical TransportTotal ServicesOFFICE BUILDINGSMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumBase Build3,5466,4001,4562,4788801,6647,49310,5881,2001,72314,57522,853Fit-Out7,21012,8002,2522,7208801,66411,51521,0001,2001,72323,05739,907HOTELS INCL.FF&EFive Star7,5009,4773,1565,7431,1133,5868,19015,4122,1252,57222,08536,789Four Star5,0607,8483,0215,1511,0611,5725,70012,0191,1001,72615,94228,316Three Star2,9544,9932,3003,7008071,3645,0997,0001,1451,48812,30518,545Resort3,1015,2411,0605,7536509504,3197,400NANA9,13019,344COMMERCIALRetail Strip1,6972,8992,0334,2421,0441,5994,2738,3001273439,17317,343Shopping Malls 3,1114,3021,4002,5009401,3504,5006,5006501,92910,60116,581PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20241415DEVELOPMENT TYPERANGE OF COSTS PER CONSTRUCTION FLOOR AREAHVACSanitary and PlumbingFire ProtectionElectrical Vertical TransportTotal ServicesRESIDENTIALMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumHigh-End Residential Building2,9773,6103,3505,2508601,2787,40410,8451,1632,10015,75423,083Mid-End Residential Building1,7403,6461,8224,5209251,2976,53110,5928441,79111,86221,846Low-End Residential Building1,3872,0281,7994,0857851,2286,0697,7616221,30910,66316,411Townhouse(1 to 4 storeys)2,5053,5261,1884,749NANA2,1785,580NANA5,87113,855Duplex4547271,1881,465NANA594718NANA2,2362,909Single Detached(Mid/High End)1,0661,6662.5736,451NANA2,2004,500NANA5,83912,617Single Detached(Low End)5008001,2242,573NANA8201,474NANA2,5444,847Note:The order of costs for Building Services provided herein is indicative and based on Construction Floor Area Assumptions.Detailed Requirements and Specifications for Building Services need to be considered and provided in conceptual designs to derive at cost estimates for specific project budgetary purposes.DEVELOPMENT TYPERANGE OF COSTS PER CONSTRUCTION FLOOR AREAHVACSanitary and PlumbingFire ProtectionElectrical Vertical TransportTotal ServicesINDUSTRIALMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumCold Warehouse and Cold Storage9,23721,7232,1283,1571,8022,40412,31567,296NANA25,48294,580Distribution/Manufacturing3,4085,7591,3312,2503,9136,6136,92511,704NANA15,57726,325Data Centre/Data Hosting Centres19,79923,7319501,6667,0459,03481,102113,542NANA108,895147,974BPOwith Fit-Out Works6,83914,0801,3132,2009911,6649,50023,0001,6672,00920,31042,953without Fit-Out Works 3,5004,2801,3131,7859911,6645,6257,2001,6672,00913,09516,938CLUBHOUSEPremier9,17915,5131,9967,8568,05513,6146,70120,903NANA25,93257,886PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20241617DEVELOPMENT TYPERANGE OF COSTS PER CONSTRUCTION FLOOR AREAHVACSanitary and PlumbingFire ProtectionElectrical Vertical TransportTotal ServicesINSTITUTIONALMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumSchools4,6748,3521,4003,4776001,3206,9218,5979152,51214,51024,258Hospitals with FF&E5,12512,2481,5873,3391,2151,4385,17012,5171,0911,13014,18930,671Construction Elements The following rates are indicative only and include an allowance for profit and overheads but exclude preliminaries.The rates are not valid for tendering or pricing of variations.SUB-STRUCTUREPhilippine Peso per Cubic MetreLowHighPile Caps18,90031,800Bored Piles(compression)19,40031,200Bored Piles(tension)25,70041,300Raft Foundation20,80030,200RC Pad Footings16,50023,900Ground Beams25,60038,700Retaining Wall25,10038,100RC Wall25,30034,600Slab15,00023,200Edge Beams30,90043,200SUPERSTRUCTUREPhilippine Peso Cubic MetreLowHighColumns34,70054,600Beams33,90048,800Slabs21,60034,000Walls(core)25,90039,200Lift Core21,60032,800Household Shelter40,00061,700Stairs35,70059,100STRUCTURAL STEELPhilippine Peso per Square MetreLowHighRoof Framing3,7007,300Steel Framing System(commissary)9,10014,700Metal Decking1,1001,950FLOOR FINISHESPhilippine Peso per Square MetreLowHighCeramic Tiles1,4003,790Porcelain Tiles 1,75013,080Homogenous Tiles1,4804,300Granite5,51029,500Marble16,90055,550Carpet2,72016,560Engineered Wood Flooring4,07010,910Laminated Wood Flooring2,3204,400Wood Planks6,26012,330PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20241819Construction ElementsEXTERNAL DOORS AND WINDOWS(Excluding Ironmongery)Philippine Peso per NumberLowHighSteel Door8,69024,340Aluminum Framed Glass Door13,80037,300Aluminum Framed Fixed Windows10,90023,800Aluminum Framed Awning Windows12,50046,400Aluminum Framed Sliding Windows14,00033,900SPECIALIST SERVICESSANITARY AND PLUMBINGPhilippine Peso per NumberLowHighAverage cost per plumbing point including fixture,soil waste and vent36,40092,000Average cost for storm water drains,per drain15,90029,600VERTICAL TRANSPORTATIONPhilippine Peso per NumberLowHighHigh Rise Capacity:1,600kg;Speed:3m/swith machine room430,000680,000Low Rise Capacity:1,600kg;Speed:3m/swith machine room750,000951,000OTHER ITEMSPhilippine Peso per Cubic MetreLowHighStructural excavation6191,250Philippine Peso per Square MetreLowHighWaterproofing6006,340Pre-painted G.I.Roofing1,5724,328Polycarbonate Roofing8,18013,820CEILING FINISHESPhilippine Peso per Square MetreLowHighRubbed Concrete160380Painted360750Gypsum Ceiling1,0903,660Acoustic Ceiling2,2303,760Fiber Cement Board Ceiling2,3308,680WALL FINISHESPhilippine Peso per Square MetreLowHighHomogenous Tiles2,3308,680Ceramic Tiles2,2302,860Rubbed Concrete150300Skim Coating215400Painted3503,660Porcelain Tiles2,6004,040Natural Stone Cladding5,99056,660Wood Cladding6,84030,000Wall Paper2,65027,070Wood Veneer4,5909,950Aluminum Composite Panel6,8409,940EXTERNAL WALLSPhilippine Peso per Square MetreLowHighPre-Cast Wall5,6908,900RC Wall3,79017,300CHB Wall1,5904,410FLOOR FINISHESPhilippine Peso per Square MetreLowHighVinyl Tiles1,0502,030Rubber Flooring2,67015,250Straight to Finish180950Plain Cement220740Epoxy Coating51014,720EXTERNAL DOORS AND WINDOWSPhilippine Peso per NumberLowHighAluminum Framed Casement Windows18,30058,400Curtain Wall19,90059,200Aluminum Louver12,10044,400Steel Louver8,69030,200INTERIOR WALLS AND PARTITIONSPhilippine Peso per Square MetreLowHighRC Wall3,79017,470CHB Wall1,0904,410Gypsum Drywall2,1304,070INTERNAL DOORS(Excluding Ironmongery)Philippine Peso per NumberLowHighWood Door10,23026,100Steel Door6,74022,600Steel Door,fire-rated9,03024,340PVC Door2,9404,800Construction ElementsPHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20242021Construction Materials Wholesale Price Index National Capital Region,January 2022-October 2023(2012=100)COMMODITY GROUPJANFEBMARAPRSand and Gravel149.0149.2148.8148.9Concrete Products and Cement139.9140.9140.9141.0Hardware134.3134.5136.2136.6Plywood123.9124.5125.7125.4Lumber147.3147.3147.3147.5G.I.Sheet145.2145.2145.9145.9Reinforcing&Structural Steel140.8140.3140.9141.0Tileworks141.2139.9137.1137.5Glass and Glass Products130.7130.7130.4130.4Doors,Jambs and Steel Casement119.7119.7120.0120.0Electrical Works146.3147.2147.8148.1Plumbing Fixtures&Accessories/Waterworks133.3136.7136.9137.4Painting Works123.3123.5125.7126.2PVC Pipes124.1124.9124.6124.6Fuels and Lubricants153.2155.6154.6152.8Asphalt104.2104.2104.2104.2Machinery and Equipment Rental152.9152.9152.9152.9MAYJUNJULAUGSEPOCT150.5150.6150.6150.6150.6151.2141.2141.7141.7141.7141.6142.1136.8137.7138.1140.1140.4140.3125.3125.7125.9126.6127.6127.7147.6148.3148.3148.3148.3148.3145.9148.2150.1150.6150.6150.7140.9140.9140.6141.9141.9141.9138.7138.9138.9139.6140.0140.0130.4130.4130.4130.4130.4130.4120.0120.0120.1120.6121.0122.3149.6149.8149.9151.7151.8152.3137.4137.4137.4137.3137.3137.7126.4126.4126.7127.1127.6128.5123.9123.9123.9124.5124.6124.8147.0146.2147.7161.1168.0165.5104.2104.2104.2104.2104.2104.2152.9152.9152.9152.9152.9152.9Source:Philippine Statistics AuthorityPHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20242223REGIONWAGE ORDER NO.DATE OF EFFECTIVITYNON-AGRIAGRICULTUREPLANTNON-PLANTNCRWO 24 July 16,2023P573-P610.00P573.00P573.00CARWO 21June 14,2022P400.00P400.00P400.00IWO 21June 6,2022P372.00-P400.00P372.00P372.00IIWO 21June 8,2022P400.00-P420.00P400.00P400.00IIIWO 23June 20,2020P344-P460.00P394.00P382.00IV-AWO 19December 30,2022P350.00-P470.00P350.00-P429.00P350.00-P429.00IV-BWO 10June 10,2022P329.00-P355.00P329.00-P355.00P329.00-P355.00VWO 20June 18,2022P365.00P365.00P365.00VIWO 26June 5,2022P410.00-P450.00P410.00P410.00VIIWO 23June 14,2022P382.00-P435.00P382.00-P425.00P382.00-P425.00VIIIWO 22June 27,2022P345.00-P375.00P345.00P345.00IXWO 21June 25,2022P338.00-P351.00P338.00P338.00XWO 21June 18,2022P390.00-P405.00P378.00-P393.00P378.00-P393.00XIWO 21April 1,2023P443.00P438.00P438.00XIIWO 22June 9,2022P347.00-P368.00P347.00P347.00CARAGAWO 17June 6,2022P350.00P350.00P350.00BARMMWO 02July 21,2022P306.00-P341.00P306.00-P316.00P306.00-P316.00Summary of Current Regional Daily Minimum Wage Rates Non-Agriculture,AgricultureAs at February 2023,in Philippine PesosNote:WO-Wage Order RA-Republic Act COLA-Cost Of Living Allowance ECOLA-Emergency Cost Of Living AllowanceNational Capital RegionSummary of Daily Minimum Wage RatesPer Wage Order,for Selected Regions,Non-Agriculture(1989-2023)RA/WODATEAMOUNTBASICALLOWANCETOTALRA 6727July 1,1989P 89.00P 89.00WO 01Nov.1,1990106.00106.00WO 02Jan.8,1991118.00118.00WO 03Dec.16,1993135.00135.00April 1,1994145.00145.00WO 04Feb.2,1996161.00161.00May 1,1996165.00165.00WO 05Feb.6,1997180.00180.00May 1,1997185.00185.00WO 06Feb.6,1998198.00198.00WO 07Oct.31,1999198.00-223.50 198.00-223.50WO 08Nov.1,2000213.00-250.00 213.00-250.00WO 09Nov.5,2001213.00-250.0015.00228.00-265.00Feb.1,2002213.00-250.0030.00243.00-280.00WO 10Jul.10,2004213.00-250.0050.00263.00-300.00WO 11Jun.16,2005 238.00-275.0050.00288.00-325.00WO 12Jul.11,2006288.00-300.00 50.00 313.00-350.00WO 13Aug.28,2007 325.00-362.00325.00-362.00WO 14June 14,2008 340.00-377.005.00345.00-382.00Aug.28,2008 345.00-382.00345.00-382.00WO 15Jul.1,2010367.00-404.00367.00-404.00WO 16May 26,2011367.00-404.0022.00389.00-426.00WO 17Jun.3,2012389.00-426.0020.00409.00-446.00Nov.1,2012389.00-426.00 30.00 419.00-456.00WO 18Oct.4,2013399.00-436.0030.00429.00-466.00Jan.1,2014414.00-451.0015.00429.00-466.00WO 19April 4,2015 444.00-466.0015.00 459.00-481.00WO 20June 2,2016444.00-481.0010.00454.00-491.00WO 21October 5,2017465.00-502.0010.00475.00-512.00WO 22November 22,2018500.00-537.00500.00-537.00WO 23June 4,2022 533.00-570.00533.00-570.00WO 24July 16,2023573.00-610.00573.00-610.00PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20242425Region VII Metro CebuRA/WODATEAMOUNTBASICALLOWANCETOTALRA 6727July 1,1989P 89.00P 89.00WO 01Nov.8,199089.00-105.0089.00-105.00WO 02Feb.1-Sept.30,199189.00-105.00250/mo.or9.55/day98.55-114.55WO 02 AOct.1,199189.00-105.005.7389.00-110.73WO 03Dec.19,199379.00-120.7379.00-120.73WO 04Jan.1,199684.00-131.0084.00-131.00July 1,199689.00-136.0089.00-136.00Oct.1,199694.00-141.0094.00-141.00WO 05March 15,199796.00-145.0096.00-145.00WO 05 AJuly 1,1997101.00-150.00101.00-150.00Oct.1,1997101.00-155.00101.00-155.00WO 06Apr.1,1998106.00-160.00106.00-160.00Oct.1,1998111.00-165.00111.00-165.00Apr.1,1999116.00-165.00116.00-165.00Oct.1,1999121.00-165.00121.00-165.00WO 07Jan.1,2000126.00-170.00126.00-170.00WO 08Nov.10,2000146.00-180.00146.00-180.00WO 09Jan.6,2002170.00-200.00170.00-200.00WO 10Aug.8,2004178.00-208.00178.00-208.00WO 11June 16,2005190.00-223.00190.00-223.00WO 12Aug.2,2006200.00-241.00200.00-241.00WO 13Nov.11,2007205.00-250.00205.00-250.00WO 14Jun.16,2008222.00-267.00222.00-267.00WO 15Sep.1,2010240.00-285.00240.00-285.00WO 16Sep.12,2011260.00-305.00260.00-305.00WO 17Dec.7,2012282.00-327.00282.00-327.00WO 18Mar.21,2014282.00-327.0013.00282.00-327.00WO 18-ADec.14,2014295.00-340.00295.00-340.00WO 19Oct.10,2015308.00-353.00308.00-353.00WO 20Mar.10,2017308.00-366.00308.00-366.00WO 21Aug.3,2018318.00-386.00318.00-386.00WO 22Jan.5,2020356.00-404.00356.00-404.00WO 23June 14,2022387.00-435.00387.00-435.00Region XI Davao RegionRA/WODATEAMOUNTBASICALLOWANCETOTALRA6727July 1,1989P 79.00-89.00P 79.00-89.00WO 01Nov.21,199089.00-104.0089.00-104.00WO 02Feb.15,1991-May 15,199189.00-104.007.12-8.3296.12-112.32WO 03Dec.1,199389.00-104.0025.00114.00-129.00WO 04Jan.1,1995104.00-119.00104.00-119.00WO 05Jan.1,1997115.00-129.00115.00-129.00June 1,1997121.00-135.00121.00-135.00WO 06Jan.1,1998121.00-135.0010.00136.00-145.00WO 07Nov.1,1999146.00-148.0010.00156.00-158.00WO 08Nov.1,2000158.00-160.0010.00168.00-170.00May 1,2001168.00-170.0010.00178.00-180.00WO 09Jan.1,2002168.00-170.0025.00193.00-195.00WO 10Jan.1,2004193.00-195.00193.00-195.00WO 11Feb.5,2005207.00-209.00207.00-209.00WO 12July 2,2005207.00-209.0015.00222.00-224.00WO 13July 27,2006 222.00-224.0016.00238.00-240.00WO 14Sep.16,2007 222.00-224.0026.00248.00-250.00WO 15 June 16,2008240.0025.00265.00Sep.16,2008250.0015.00265.00WO 16Sep.1,2010271.0015.00286.00WO 17Jan.1,2012286.005.00291.00May.1,2012286.0015.00301.00WO 18June 1,2014312.00312.00Dec.1,2014312.005.00317.00WO 19Dec.16,2016335.005.00340.00May 1,2017340.00 340.00WO 20 Aug.16,2018370.00370.00Feb.16,2019396.00396.00WO 21June 19,2022427.00427.00Jan.1,2023438.00-443.00438.00-443.00April 1,2023443.00443.00Source:Department of Labor and Employment,National Wages and Productivity Commission Rider Levett Bucknall Philippines,Inc.202427PHILIPPINE CONSTRUCTION COST DATA Rider Levett Bucknall Philippines,Inc.202426EstimatingDataReinforcement Ratios Average Construction Payment Drawdown Vertical Transport Services JTower ResidencesESTIMATING DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20242829Reinforcement Ratios The following ratios give an indication of the average weight of high tensile rod reinforcement per cubic metre of concrete(Grade 35)for the listed elements.Differing structural systems,ground conditions,height of buildings,load calculations and sizes of individual elements and grid sizes will result in considerable variation to the stated ratios.For project specific ratios,a civil&structural engineer should be consulted.ElementAve kg/m3Pile caps115-250Bored Piles(compression)30-60Bored Piles(tension)150-250Raft Foundation150-220RC pad footings70-100Ground beams200-300BasementAve kg/m3Retaining Wall150-250RC Wall125-150Slab100-200Edge Beams220-300Above GroundAve kg/m3Columns250-500Beams180-300Slab110-200Walls(core)130-320Lift Core125-200Household Shelter200-300Stairs130-160Average Construction Payment Drawdown The tabulation below is derived from the statistical average of a series of case histories,which gives an indication of the anticipated rate of expenditure when used for a specific project for preliminary budgetary purposes.All data are related to the date of submission of contractors claims to the client and not actual payment,which is generally one month later.No adjustment has been made for the retention money on the assumption that such money will be paid by the client into a joint account with the Contractor.The payment of the outstanding monies due to the contractors and sub-contractors after the date of practical completion takes place at irregular intervals with payments spread over an indefinite period.The average rate of claims expenditure on construction projects are from Php 100,000,000 to Php 1,300,000,000 and/or greater than one year but less than two years construction period to practical completion.Contract PeriodOverall ProjectP.75102.70155.71209.652514.403019.803525.734032.064538.655045.405552.856060.156567.157073.687579.608084.798589.079092.299594.3210097.50Note:The remaining 2.5%would be released after a period of six to twelve months after hand-over of the projectESTIMATING DATA Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20243031Average Construction Payment DrawdownCumulative Project Claims Expenditure(%)Contract Period(%)5 %05EPUepu0%0 0Pp%ApplicationLift TypeSpeed(M/Sec)Base Cost($)No.of Floors Served$/Floor Additional Floors Served$/Floor By passedOFFICE&RESIDENTIALElectro-Hydraulic passenger0.5$70,000-$95,0002$8,500$6,500Gearless9 to 13 Passenger1.0$75,000-105,0002$7,000$5,000Gearless9 to 13 Passenger1.65-1.75$95,000-145,0008$7,000$5,000GearlessUp to 17 Passenger1.65-1.75$120,000-$170,0008$7,000$6,000Gearless Up to 23 Passenger2.0-2.5$150,000-$270,00015$8,000$6,000Gearless3.0-3.5$435,00020$8,000$6,000Gearless4.0$575,00020$10,000$8,000Gearless5.0$660,00020$10,000$8,000Gearless6.0$920,00030$10,000$8,000Gearless7.0$990,00030$10,000$8,000Gearless8.0$1,100,00040$10,000$8,000Vertical Transport Services Rider Levett Bucknall Philippines,Inc.202433ESTIMATING DATA Rider Levett Bucknall Philippines,Inc.202432ApplicationLift TypeSpeed(M/Sec)Base Cost($)No.of Floors Served$/Floor Additional Floors Served$/Floor By passedHOSPITALSGearless23 pax Bed Lift1.75$180,0008$7,000$5,000Gearless Up to 40 Passenger2.50$680,00010$13,500$8,000LARGE GOODS LIFTSGearless Up to2000kg1.0$305,0002$14,000$8,000Gearless Up to5000kg0.50$510,0002$16,500$10,500SERVICE LIFT(DUMB-WAITER)BenchHeight Unit0.50$35,0002$4,500$1,800LargeUnit0.20$55,00020$5,500$2,300ESCALATORSRise 2.5to 5.0m0.50$140,000-$320,00020N.A.N.A.TRAVELLATORDistance 1.3 to 5.0m0.50$120,000-$340,000N.A.N.A.N.A.To 4.0m0.15$68,5002N.A.N.A.DISABLED PLATFORM LIFTAbove 4.0m0.15$88,5003N.A.N.A.Notes:Lift types up to 17-passenger capacity serving not more than 18 floors are more commonly equipped with motor room-less systems.Costs provided above are indicative and vary depending on the brand name and technical specifications.Vertical Transport ServicesInternationalConstructionSpecifjc Defjnitions for InternationalConstruction CostsBuilding Costs Construction Market Activity Cycle ModelSector Data of Selected Cities per Regional Location Rider Levett Bucknall Philippines,Inc.202435Specific Definitions for International Construction CostsOffjce BuildingPremium OfficesRefer to landmark high-quality office buildings located in a major Central Business District(CBD)office market,which are trendsetters in establishing rents and accommodating leading owner occupiers including headquarter buildings for banks,insurance,multi national corporations and other major companies.Grade A OfficesRefer to high quality buildings which are built for the middle range of the rental market.HotelRange of costs exclude FF&E.IndustrialQuality reflects a simplified type of construction suitable for light industry.ResidentialOwner OccupiedMulti-storey units reflect medium to luxury quality,air-conditioned,and accommodation up to 20-storeys in height.InvestmentReflects low-medium quality with basic fit-out provisions.Note:The ratio of kitchen,laundry,and bathroom areas to living areas and finishes required will affect the cost range.Range given is significantly affected by the height and configuration of the building.Exclusions:Loose furniture,carpet,special light fittings,washing machines,dryers,refrigerators,and tenants special requirements.Grand Westside HotelINTERNATIONAL CONSTRUCTION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20243637Building Costs All costs are stated in local currency as shown below,as at Second Quarter 2023.The following data represents estimates of current building costs in the respective market.Costs may vary as a consequence of factors such as site conditions,climatic conditions,standards of specification,market conditions etc.Location/CityLocalCurrencyCost per m2OFFICE BUILDINGPremium OfficesGrade ALowHighLowHighAMERICASBoston$USD4,0906,4602,6353,820Chicago$USD3,2855,4351,9903,285Denver$USD3,7654,7902,1503,230Honolulu$USD3,7156,2452,3153,605Las Vegas$USD2,6904,6801,8852,530Los Angeles$USD2,6904,0352,0453,015New York$USD3,9859,2052,3155,760Phoenix$USD2,5854,3601,6152,315Portland$USD2,6903,6052,4753,445San Francisco$USD4,6307,9653,5505,705Seattle$USD3,5506,4052,4203,285Washington D.C.$USD3,6055,9202,4753,875ASIABeijingRMB9,20013,5005,0008,300ChengduRMB8,00011,5004,4007,200GuangzhouRMB8,70013,2504,6007,800Ho Chi Minh CityVND(000)28,95034,73026,63028,700Hong Kong$HKD33,50041,00023,00031,500JakartaIDR(000)18,20020,40011,40013,700Kuala LumpurRINGGIT3,0004,2002,3003,400MacauMOP18,00024,50012,25016,500ManilaPHP90,500261,60049,50058,700SeoulKRW(000)3,4504,1302,4002,950ShanghaiRMB9,20013,5005,1008,300ShenzhenRMB8,70013,0004,7007,800Singapore$SGD3,7005,1003,9504,950EUROPEBirminghamGBP2,4503,5002,3503,350BristolGBP2,4503,3502,2003,350LondonGBP3,4004,5003,2504,250LeedsGBP2,3503,9502,2002,900MIDDLE EAST&AFRICAAbu DhabiAED6,0007,2004,9006,800DubaiAED6,4007,6005,1007,200Saudi ArabiaSAR7,0008,8006,2007,900DohaQAR6,4009,0005,8008,500OCEANIAAdelaide$AUD3,5004,2003,2003,800Auckland$NZD4,5005,5004,6005,300Brisbane$AUD3,7004,7003,6004,400Canberra$AUD4,0506,0003,2004,650Christchurch$NZD5,3006,5005,0005,600Darwin$AUD3,4504,400NANAMelbourne$AUD4,3004,7003,3503,950Perth$AUD4,3005,8003,4004,800Sydney$AUD5,3006,4004,1505,100Wellington$NZDNANANANARates are in national currency per sqm of Gross Floor Area except as follows:Chinese cities,Hong Kong and Macau:Rates are per square metre of Construction Floor Area,measured to outer face of external walls.Singapore,Ho Chi Minh City,Jakarta and Kuala Lumpur:Rates are per square metre of Construction Floor Area,measured to outer face of external walls and inclusive of covered basement and above ground parking areas.Chinese cities,Hong Kong,Macau and Singapore:All hotel rates are inclusive of Furniture,Fittings and Equipment(FF&E).Cost per m2RETAILRESIDENTIAL MULTI STOREYMallStrip ShoppingLowHighLowHighLowHigh2,3703,5001,7752,8002,1553,7151,9904,3601,6152,6901,9904,5751,7203,2301,5602,4751,9903,5002,8506,0302,6354,5202,9054,9001,6156,4051,4553,5001,9904,7351,8303,9301,5602,2052,6354,1453,4456,8903,6607,2102,4204,6802,0453,4451,1851,9901,8302,8502,4753,5002,2053,0152,6903,6603,3905,5952,5854,4154,3056,7302,6354,2501,9403,2302,7454,6801,9403,5001,5602,5852,2053,8209,00014,2505,8008,7008,50012,2508,20013,0005,5008,2007,50010,2509,00014,0005,6008,7007,70011,25022,48029,950NANA19,50027,27027,00032,25017,00020,50039,25053,0007,3009,900NANA8,80017,6002,5003,800NANA2,5004,80019,50023,75013,00015,50016,50023,75045,10068,70038,00063,50066,000107,9002,1503,1301,4302,0002,4803,2709,20014,5005,9008,7008,60012,2509,10014,0005,9008,3008,20011,2502,7004,050NANA3,4504,3003,6005,1001,6202,5502,0502,8503,4004,6001,6202,4501,6402,6004,0505,9001,9803,0502,8504,9003,0504,3001,4603,1502,1502,7004,3006,700NANA5,1006,9004,5007,100NANA5,5007,3003,5006,5003,0004,1507,20014,7505,2005,800NANANANA2,1003,5001,8002,150NANA3,3503,7002,6503,400NANA3,1004,6002,1002,6004,3005,2002,6004,4001,6002,700NANA3,4003,8002,6003,300NANA1,9002,8501,9602,850NANA2,5503,7001,5002,2504,1505,0002,4003,7001,6002,3004,1005,2002,5505,5001,8603,7505,6007,3003,3003,500NANANANAINTERNATIONAL CONSTRUCTION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20243839Building Costs All costs are stated in local currency as shown below,as at Second Quarter 2023.The following data represents estimates of current building costs in the respective market.Costs may vary as a consequence of factors such as site conditions,climatic conditions,standards of specification,market conditions etc.Location/CityLocalCurrencyCost per m2HOTELS3 Star5 StarLowHighLowHighAMERICASBoston$USD3,2304,5754,6806,835Chicago$USD3,5504,9004,9007,640Denver$USD3,0704,4654,5756,730Honolulu$USD4,0906,4607,1058,610Las Vegas$USD2,4754,2004,1457,750Los Angeles$USD3,2304,0904,2506,295New York$USD3,6604,9504,9507,425Phoenix$USD2,1553,2304,0906,405Portland$USD3,2304,3604,5755,920San Francisco$USD4,2006,9955,9208,825Seattle$USD3,2304,4654,6307,210Washington D.C.$USD3,0154,6804,5756,995ASIABeijingRMB11,50015,00015,50020,500ChengduRMB10,00013,25014,00018,500GuangzhouRMB11,25014,25015,75020,000Ho Chi Minh CityVND(000)28,23036,48040,15048,170Hong Kong$HKD31,25038,00039,50048,000JakartaRp(000)17,20020,70024,80028,400Kuala LumpurRINGGIT2,7003,9005,5009,500MacauMOP24,75028,50031,00038,000ManilaPHP67,70082,700109,100256,500SeoulKRW(000)2,3193,2214,3236,343ShanghaiRMB11,25015,00016,00021,000ShenzhenRMB11,25014,25015,50020,000Singapore$SGD3,9504,6505,7007,300EUROPEBirminghamGBP1,6402,6002,7503,950BristolGBP1,6202,1502,8003,650LondonGBP2,2002,8003,2504,400LeedsGBP1,4401,9002,3503,650MIDDLE EAST&AFRICAAbu DhabiAED6,3008,8009,30012,500DubaiAED6,6009,8009,80015,500Saudi ArabiaSAR6,8008,70018,25021,750DohaQAR5,3007,9009,50012,750OCEANIAAdelaide$AUD3,8004,5005,7006,400Auckland$NZ5,0006,0006,8007,500Brisbane$AUD3,7005,2005,2006,700Canberra$AUD3,3505,8004,6006,900Christchurch$NZ5,5006,0006,6008,000Darwin$AUD3,0003,7503,8004,750Melbourne$AUD3,4004,3504,7506,500Perth$AUD3,3004,6004,4006,000Sydney$AUD4,0505,3005,7007,800Wellington$NZ4,6005,1005,7007,500Cost per m2CAR PARKINGINDUSTRIAL WAREHOUSEMulti StoreyBasementLowHighLowHighLowHigh1,0251,6701,1851,8851,2902,2059151,4001,5052,6901,3452,2051,5602,1552,1552,6901,3452,1001,6152,1551,8302,9601,2902,7458051,0751,0251,8858051,5601,1851,4001,5602,2051,4002,1551,1301,9901,5602,4201,3452,3155901,0759151,5608601,4551,9402,3702,0452,8501,9402,8501,4002,2052,6903,7651,6152,7451,1851,6151,8852,6901,6702,3707551,0259701,6701,4002,2603,7005,5004,7007,9007,0008,700NANA4,4007,1005,3005,7003,4005,1004,5007,6006,1007,4008,95013,97018,38026,250NANA12,00015,00024,75032,75016,25019,5004,3005,4006,7008,9005,8007,1008001,3001,7004,0001,2002,200NANA11,25014,000NANA21,30038,20046,80055,60074,400161,1009011,1091,1511,4711,5501,9503,8005,6004,7007,9006,2007,6003,4005,2004,7007,7005,6006,9009701,7002,1003,0001,6002,3004508801,0201,7801,5002,0505009501,1601,7809701,7805201,0601,3802,3501,7602,3003801,1407101,1608801,6401,9003,7003,0004,7002,9003,4002,6003,9003,4004,9003,3004,4002,6003,3003,5004,1504,5004,700NANA3,0004,800NANA1,2001,7001,8002,6501,9002,5001,3602,0002,8003,2002,1002,6001,3602,0001,9602,6002,4003,0008501,4201,1601,9801,8002,9001,5002,0002,6003,0002,4004,0008401,4401,3801,7602,0002,7509301,4801,4802,0501,7402,3008401,3002,3003,9001,7002,4009701,5401,4202,4502,7003,6501,6001,8403,2003,4002,0002,450Rates are in national currency per sqm of Gross Floor Area except as follows:Chinese cities,Hong Kong and Macau:Rates are per square metre of Construction Floor Area,measured to outer face of external walls.Singapore,Ho Chi Minh City,Jakarta and Kuala Lumpur:Rates are per square metre of Construction Floor Area,measured to outer face of external walls and inclusive of covered basement and above ground parking areas.Chinese cities,Hong Kong,Macau and Singapore:All hotel rates are inclusive of Furniture,Fittings and Equipment(FF&E).INTERNATIONAL CONSTRUCTION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20244041 CONSTRUCTION MARKET ACTIVITY CYCLE MODELConstruction Market Activity Cycle ModelThe Cycle Model illustrates the different growth and decline zones in a theoretical construction industry business cycle.The tabulation in the following page provides an overview of the relative growth/decline of each development sector in various cities.Each city has its own industry business cycle in the context of its own economy,and as such the performance of each development sector is not strictly comparable between cities.Reflected data is as at Second Quarter 2023.Sector Data of Selected Cities per Regional LocationLOCATIONHOUSESAPARTMENTSOFFICESINDUSTRIALRETAILHOTELDATA CENTRESAMERICASBOSTONCHICAGODENVERHONOLULULAS VEGASLOS ANGELESNEW YORKPHOENIXPORTLANDSAN FRANCISCOSEATTLEWASHINGTON DCASIABEIJINGCEBUGUANGZHOUHO CHI MINH CITYHONG KONGJAKARTAKUALA LUMPURMACAUMANILASEOULSHANGHAISHENZHENSINGAPORE Rider Levett Bucknall Philippines,Inc.202443INTERNATIONAL CONSTRUCTION Rider Levett Bucknall Philippines,Inc.202442Sector Data of Selected Cities per Regional LocationPhilippineConstructionInformationBuilding for Ecologically Responsive Design Excellence(B.E.R.D.E.)LEED Green Building Rating SystemWELL Building Standard(International WELL Building Institute)Excellence in Design for Greater Effjciencies(EDGE)Fitwel Healthy Building CertifjcationDevelopment Data Measurement of Building Areas Government System Implemented for Private and Public Construction Construction Industry-Related AgenciesLOCATIONHOUSESAPARTMENTSOFFICESINDUSTRIALRETAILHOTELDATA CENTRESEUROPEBIRMINGHAMLONDONBRISTOLMIDDLE EASTABU DHABIDUBAIRIYADHOCEANIAADELAIDEAUCKLANDBRISBANECANBERRACHRISTCHURCHDARWINGOLD COASTMELBOURNEPERTHSYDNEYWELLINGTONPHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20244445Building for Ecologically Responsive Design Excellence(BERDE)BERDE is the National Voluntary Green Building Rating System in the Philippines.It is developed by the Philippine Green Building Council(PHILGBC),and is used to measure,verify,and monitor the environmental performance of buildings that exceeds existing mandatory regulations and standards.It is consensus-driven,and achieved through a multi-stakeholder consultation and collaboration process.Version Development Process and Rating SchemeIn 2007,the PHILGBC formed the BERDE Program to develop a nationally accepted and recognized rating system.The BERDE Program is administered and implemented by the BERDE Committee,a multi-sectoral committee with members appointed by the PHILGBC Board of Trustees from its members and partners.This committee also serves as the programs Technical Management Board to ensure a technically balanced green building rating system.A BERDE green building rating scheme undergoes a series of workshops and consultations with industry stakeholders before its final release and adoption.WORK ITEM APPROVALCOMMITTEE DRAFTCOUNCIL DRAFTPUBLIC DRAFTFINAL DRAFTOFFICIAL RELEASEBERDE Assessment and Certifjcation for Buildings1.Project RegistrationThe building owner submits the project information and commits to the certification process,and with compliance to all relevant building and environment laws,regulations and mandatory standards.2.Design AssessmentThe project proponent submit design plans,specifications,calculations and other documented and verifiable proof Developing the BERDE Certifjcation Functional ChartThe PHILGBC Board of Trustees is the highest policy making body in the BERDE Rating System structure and owns the BERDE Certification Mark.The BERDE Development Team drafts,finalizes,and approves the BERDE Rating Program.They conduct periodic review of the Rating Program and provide technical assistance,where necessary,in its interpretation.TV Rheinland Philippines undertakes the BERDE assessment activities,to include documentation review,assessment,and assessment reporting.They appoint a technical review or certification person/panel to independently review the Assessment Report and be responsible for the award of the BERDE Certification.PHILGBC BoardPHILGBC BoardAppeals CommitteeBERDE Development TeamAssessmentCertifjcationAssessorAssessorAssessorof compliance to the intent of BERDE.The certification body shall form a team of BERDE Assessors to review and assess the submittal.A project is deemed BERDE Design Certified once found compliant to BERDE and meets at least a cumulative score of 51.3.Construction Assessment and BERDE CertifjcationOnce the building is completely constructed and ready for occupancy and/or operational,the project proponents submit as-built plans and other robust documentation as evidence of compliance to the intent of BERDE.Once the project is found compliant with the requirements of BERDE and meets at least a cumulative point of 51,the project is certified BERDE and is presented with a rating equivalent to the points achieved.PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20244647BERDE Rating Certifjcation StructureTechnical Assessors and Experts PoolTV Rheinland Philippines supports the PHILGBC in the development of the criteria for the Technical Assessors and Experts.TV Rheinland Philippines maintains a list of its technical assessors and experts pool for the BERDE Rating Program.TV Rheinland Philippines in collaboration with PHILGBC undertakes capacity building programs,such as trainings or workshops in order to qualify the technical assessors and experts and ensure that they have common understanding on the interpretation of the BERDE Rating system,thus ensure the consistent implementation and assessment of the BERDE Rating program.A regular Experience Exchange program shall be required to all qualified technical assessors and experts in order to maintain their appointment status.As part of TV Rheinland Philippines compliance with ISO/IEC 17021,it ensures that the designated assessment team,including the technical assessors and experts,are not in any way involved in the consulting for the applicant or project.PHILGBCTUV RheinlandBERDEAssessment/CertifjcationBuilding/ApplicantCustomersISO/IEC 17021i.e.BERDE AssessorIndustry ExpertProposed Timeline for BERDE Rating Program Man-day Table and Fee Structure TV Rheinland Philippines charges on a man-day rate basis for its assessment and certification and/or registration activities.TV Rheinland Philippines in collaboration with PHILGBC,develops a man-day table or matrix to determine how much time(man-days)is needed,considering the size and complexity of the project,such as location,size of lot,number of floors of the building,for the Assessment Team to spend for its assessment and certification activities,such as but not limited to documentation review,assessment and documentation/report preparation.TV Rheinland Philippines shall charge the current man-day rate and registration fees duly approved by PHILGBC and published accordingly.Minimum Program RequirementsEach project must meet minimum requirements in order to quality for BERDE certification.All projects must comply with applicable environmental laws,be a complete permanent building or space,have a site boundary(distinct property lines),comply with minimum occupancy rates,commit to sharing whole building energy and water usage data,and comply with a minimum building area to site-area ratio.Scoring and RatingThe BERDE Rating System provides a cross-cutting measure of building performance.Weighting is a central concern when combining performance across credits and credit categories.This work is an effort for the BERDE weighting system to address the social,economic and environmental impact priorities of the Philippines.ObjectivesThe BERDE 1.0 Credit Weighting Tool was developed to provide a transparent and reproducible system for understanding building impacts and using this information to assign weights to individual BERDE credits.The workbook is a decision support tool that is intended to provide a framework for credit weighting and not definitive answers.Weighting ApproachThe BERDE weighting system is based on the concept that the value of credits or CRITERIA will be determined by a basic weighting equation(see following page).This equation brings together information on indicators addressed,impact categories(i.e.social,economic,environmental),and the relative importance of CRITERIA indicators.This approach is implemented in a Microsoft Excel based workbook called the BERDE 1.0 Credit Weighting Tool.The tool ultimately provides a set of credit weightings such as those illustrated in the succeeding pages.PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20244849Definitions:Indicators Addressed:Each BERDE requirement or criteria addresses different U.N.Sustainable Development Indicators(SDIs).Environmental Impacts:Each U.N.Sustainable Development Indicator belongs to different impact categories(Social,Economic and Environmental).Relative Importance:Each relevant Database Indicator,that belongs to different UN SDIs,compares the Philippines standing against the rest of the world.The data puts the Philippines better or worse than the World average.A“worse than the world average”standing gives the indicator a relative importance.Data source:www.berdeonline.orgBasic Weighing EquationUN Sustainable Development Indicators AddressedXSocial,Economic and Environmental ImpactsXRelative Importance of Each Impact=Credit or Criteria WeightEnergyPointsEN-PT-1:Energy Sub-Metering 1EN-PT-2:Energy Efficient Lighting 1EN-PT-3:Natural Ventilation1EN-PT-4:On-Site Renewable Energy Generation1EN-PT-5:Energy Efficiency Improvement1EN-PT-6:Energy Efficient Building Envelope 1EN-PT-7:Energy Efficient Equipment 1EN-PT-8:Building Automation Systems 1-2TransportationPointsTR-PT-1:Bicycle Rider Amenities1TR-PT-2:Fuel Efficient and Low Emitting Vehicles1ManagementPointsMN-PT-1:BERDE Consultant2MN-PT-2:Stakeholder Consultation6MN-PT-3:Design Charrette1MN-PT-4:Security1MN-PT-5:Sustainability Commitment1-4Land Use and EcologyPointsLE-PT-1 :Land Re-use2-6LE-PT-2:Protection and Improvement of Ecological Features2-6LE-PT-3:Pro-Local Biodiversity Open Space2-3LE-PT-4:Heat Island Effect:Non-Roof1-2LE-PT-5:Heat Island Effect:Building Roof 1LE-PT-6:Flood Risk Minimization2WaterPointsWT-PT-1:Water Sub-Metering1WT-PT-2:Potable Water Consumption Reduction1-4WT-PT-3:Efficient Landscape Irrigation 1-2BERDE for New Construction-Commercial BuildingsSUMMARY OF POINTSPHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20245051TransportationPointsTR-PT-3:Parking 3TR-PT-4:Proximity To Key Establishments3TR-PT-5:Public Access 1TR-PT-6:Contribution To Public Transport Amenities 1-3TR-PT-7:Public Transportation Access 1-4TR-PT-8:Transportation Impact Assessment 2Indoor Environment QualityPointsEQ-PT-1:External View and Daylighting1EQ-PT-2:Illumination Control1EQ-PT-3:Glare Control1EQ-PT-4:Thermal Control1EQ-PT-5:Indoor Air Quality1EQ-PT-6:Microbial Contamination Prevention 1EQ-PT-7:Low VOC Environment1MaterialsPointsMT-PT-1:Civil Works 2MT-PT-2:Electrical Works 2MT-PT-3:Architectural Works and Finishes 2EmissionsPointsEM-PT-1:Pollutant and Greenhouse Gas Inventory 2EM-PT-2:Ozone Protection 1EM-PT-3:Emission Control 1WastePointsWS-PT-1:Construction Waste Diversion 2-6WS-PT-2:Materials Recovery Facility 5Heritage ConservationPointsHC-PT-1:Heritage Feature Protection 3HC-PT-2:Heritage Features Promotion 1InnovationPointsIN-PT-1:Innovation In Design Or Process 1-10IN-PT-2:Innovation In PerformanceUnder MN:Points-Conduct a design phase commissionability review1-Conduct of extended commissioning after one year1Under LE:Points-Flood risk assessment report data based on 50-year,24-hour rainfall1-Flood risk assessment report data based on 100-year,24-hour rainfall1Under WT:Points-Installation of water submeters for major water usages accounting for 40%of total water consumption1-Integration of water metering system with BAS1Under EN:Points-BAS in place for monitoring MVAC1-Conduct of CFD studies of naturally ventilated spaces1-Annual energy reduction cost greater than 15%1-25%energy reduction OR 150 kWH/m2 per year(12-hour operation)OR 300 kWh/m2 per year(24-hour operation)1-Energy modelling reports representing building performance1-10%improvement above minimum EER for unitary A/Cs OR 10%improvement in efficiency baseline for chillers1-20%improvement above minimum EER for unitary A/Cs OR 20%improvement in efficiency baseline for chillers2-30%improvement above minimum EER for unitary A/Cs OR 30%improvement in efficiency baseline for chillers3-Inclusion of lifts,lighting,RE systems,and external loads in BAS1Under EQ:Points-Use of automatic lighting controls1-100%compliance with required VOC levels for materials1Under MT:Points-Any three of the criteria identified in MT-PT-1 are met1-All criteria identified in MT-PT-1 are met2-All criteria identified in MT-PT-2 are met1TOTAL POINTS 100 maximum pointsData Source:BERDE-NC-COM v.1.1.0(2013)PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20245253LEED Green Building Rating SystemLEED,or Leadership in Energy&Environmental Design,is a green building certification program that recognizes best-in-class building strategies and practices.To receive LEED certification,building projects satisfy prerequisites and earn points to achieve different levels of certification.Prerequisites and credits differ for each rating system,and teams choose the best fit for their project.I.BACKGROUND OF LEEDFollowing the formation of the U.S.Green building council(USGBC)in 1993,the organizations members quickly realized that the sustainable building industry needed a system to define and measure“green buildings.”USGBC began to research existing green building metrics and rating systems.Less than a year after formation,the members acted on the initial findings by establishing a committee to focus solely on this topic.The composition of the Committee was diverse;it included architects,real estate agents,a building owner,a lawyer,an environmentalist,and Industry representatives.This cross section of people and professions added richness and depth both to the process and to the ultimate product.Features of LEEDThe LEED Green Building Rating Systems are voluntary,consensus-based,and market-driven.Based on existing and proven technology,they evaluate environmental performance from a whole building perspective over a buildings life cycle,providing a definitive standard for what constitutes a green building in design,construction,and operation.The LEED Credit WeightingsIn LEED 2009,the allocation of points between credits is based on the potential environmental impacts and human benefits of each credit with respect to a set of impact categories.The impacts are defined as the environmental or human effect of the design,construction,operation,and maintenance of the building,such as greenhouse gas emissions,fossil fuel use,toxins and carcinogens,air and water pollutants,indoor environmental conditions.A combination of approaches,including energy modelling,life-cycle assessment,and transportation analysis,is used to quantify each type of impact.The resulting allocation of points among credits is called credit weighting.The LEED 2009 credit weightings process is based on the following parameters,which maintain consistency and usability across rating systems:All LEED credits are worth a minimum of 1 point.All LEED credits are positive,whole numbers;there are no fractions or negative values.All LEED credits receive a single,static weight in each rating system;there are no individualized scorecards based on project location.All LEED rating systems have 100 base points;Innovation in Design(or Operations)and Regional Priority credits provide opportunities for up to 10 bonus points.Given the above criteria,the LEED 2009 credit weightings process involves 3 steps:1.A reference building is used to estimate the environmental impacts in 13 categories associated with a typical building pursuing LEED certification.2.The relative importance of building impacts in each category are set to reflect values based on the NIST weightings.3.Data that quantify building impacts on environmental and human health are used to assign points to individual credits.Each credit is allocated points based on the relative importance of the building-related impacts that it addresses.The result is a weighted average that combines building impacts and the relative value of the impact categories.II.OVERVIEW AND PROCESS The LEED 2009 green building rating system for new construction and major renovations is a set of performance Standards for certifying the design and construction of commercial or institutional buildings and high-rise Residential buildings of all sizes,both public and private.The intent is to promote healthful,durable,affordable,and environmentally-sound practices in building design and construction.Prerequisites and credits in the LEED 2009 for new construction and major renovations addresses 7 topics:Sustainable Sites(SS)Water Efficiency(WE)Energy and Atmosphere(EA)PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20245455 Materials and Resources(MR)Indoor Environmental Quality(IEQ)Innovation In Design(ID)Regional Priority(RP)LEED 2009 for new construction and major renovations certifications are awarded according to the following scale:Certified 4049 points Silver 5059 points Gold 6079 points Platinum 80 points and aboveThe Green Building Certification Institute(GBCI),which administers the LEED certification program,will recognize buildings that achieve 1 of these rating levels with a formal letter of certification.When to Use LEED 2009 for New ConstructionLEED for new construction was designed primarily for new commercial office buildings,but it has been applied to many other building types by LEED practitioners.All commercial buildings,as defined by standard building codes are eligible for certification as LEED for new construction buildings.Examples of commercial occupancies include offices,institutional buildings(libraries,museums,churches,etc.),hotels,and residential buildings of 4 or more habitable stories.RegistrationProject teams interested in earning LEED certification for their buildings must first register the project with GBCI.Projects can be registered on the GBCI website(www.gbci.org).The website also has information on registration costs for USGBC national members as well as non-members.Registration is an important step that establishes contact with GBCI and provides access to software tools,errata,critical communications,and other essential information.CertifjcationTo earn LEED certification,the applicant project must satisfy all the prerequisites and qualify for a minimum number of points to attain the established project ratings.Having satisfied the basic prerequisites of the program,applicant projects are then rated according to their degree of compliance within the rating system.III.MINIMUM PROGRAM REQUIREMENTSThe LEED 2009 minimum program requirements(MPRS)define the minimum characteristics that a project must possess in order to be eligible for certification under LEED 2009.These requirements define the categories of buildings that the LEED rating systems were designed to evaluate,and taken together serve three goals:to give clear guidance to customers,to protect the integrity of the LEED program,and to reduce challenges that occur during the LEED certification process.It is expected that MPRS will evolve over time along with LEED rating system improvements.The requirements will apply only to those projects registering under LEED 2009.To view the MPRS and the MPR supplemental guidance,visit the LEED resources and tools section at www.usgbc.org.IV.Exemplary Performance StrategiesExemplary performance strategies result in performance that greatly exceeds the performance level or expands the scope required by an existing LEED 2009 for new construction credit.To earn exemplary performance credits,teams must meet the performance level defined by the next step in the threshold progression.For credits with more than 1 compliance path,an innovation in design point can be earned by satisfying more than 1 compliance path if their benefits are additive.The credits for which exemplary performance points are available through expanded performance or scope are noted In the LEED reference guide for green design&construction,2009 edition and in LEED-Online.Data Source:www.usgbc.orgPHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20245657LEED 2009 for New Construction and Major Renovations Project ChecklistSustainable Site26 possible pointsPrerequisite 1Construction Activity Pollution PreventionRequiredCredit 1Site Selection1Credit 2Development Density and Community Connectivity5Credit 3Brownfield Redevelopment1Credit 4.1Alternative transportation:Public transportation access6Credit 4.2Alternative transportation:Bicycle storage and Changing rooms1Credit 4.3Alternative transportation:Low-Emitting and fuel-Efficient vehicles3Credit 4.4Alternative transportation:Parking Capacity2Credit 5.1Site Development:Protect or Restore Habitat1Credit 5.2Site Development:Maximize open space1Credit 6.1Stormwater Design:Quantity Control1Credit 6.2Stormwater Design:Quality Control1Credit 7.1Heat island Effect:Non-roof1Credit 7.2Heat island Effect:Roof1Credit 8Light Pollution Reduction1Water Efciency10 possible pointsPrerequisite 1Water Use ReductionRequiredCredit 1Water Efficient Landscaping2-4Credit 2Innovative Wastewater Technologies2Credit 3Water Use Reduction2-4Indoor Environmental Quality15 possible pointsPrerequisite 1Minimum Indoor Air Quality PerformanceRequiredPrerequisite 2Environmental Tobacco Smoke(ETS)ControlRequiredCredit 1Outdoor Air Delivery Monitoring1Credit 2Increased Ventilation1Credit 3.1Construction Indoor Air Quality Management Plan:During Construction1Energy and Atmosphere10 possible pointsPrerequisite 1Water Use ReductionRequiredPrerequisite 2Water Efficient LandscapingRequiredPrerequisite 3Innovative Wastewater TechnologiesRequiredCredit 1Optimize Energy performance1-19Credit 2On-site Renewable Energy1-7Credit 3Enhanced Commissioning2Credit 4Enhanced refrigerant Management2Credit 5Measurement and Verification3Credit 6Green Power2Materials and resources14 possible pointsPrerequisite 1Storage and Collection of recyclablesRequiredCredit 1.1Building reuse:Maintain Existing walls,floors and roof1-3Credit 1.2Building reuse:Maintain Existing interior Non-structural Elements1Credit 2Construction Waste Management1-2Credit 3Materials Reuse1-2Credit 4Recycled Content1-2Credit 5Regional Materials1-2Credit 6Rapidly Renewable Materials1Credit 7Certified Wood1PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20245859Regional Priority4 possible pointsCredit 1Regional Priority1-4Innovation in Design6 possible pointsCredit 1Innovation in Design1-5Credit 2LEED accredited professional1Indoor Environmental Quality15 possible pointsCredit 3.2Construction Indoor Air Quality Management Plan:Before Occupancy1Credit 4.1Low-Emitting Materials:Adhesives and Sealants1Credit 4.2Low-Emitting Materials:Paints and Coatings1Credit 4.3Low-Emitting Materials:Flooring systems1Credit 4.4Low-Emitting Materials:Composite Wood And Agrifiber Products1Credit 5Indoor Chemical And Pollutant Source Control1Credit 6.1Controllability Of Systems:Lighting1Credit 6.2Controllability Of Systems:Thermal Comfort1Credit 7.1Thermal Comfort:Design1Credit 7.2Thermal Comfort:Verification1Credit 8.1Daylight And Views:Daylight1Credit 8.2Daylight And Views:Views1LEED 2009 for New Construction and Major Renovations 100 base points;6 possible Innovations in Design and 4 Regional Priority pointsCertifjed 40-49 pointsSilver 50-59 pointsGold 60-79 pointsPlatinum 80 points and aboveData Source:LEED 2009 for New Construction and Major Renovations Rating System.USGBC Member Approved November 2008(Updated July 2016).WELL Building Standard(International WELL Building Institute)The WELL Building Standard is the worlds first building standard that was developed to fuse design with human health and wellness as its centrepiece.WELL is about the effect of the environment on the individual,both physiologically and psychologically.It is a whole new dimension and a holistic take of what it means to live well and healthy within the bounds of the built-in environment.The WELL Building Standard was launched by design agency Delos Group,a New York-based developer whose founder,Paul Scialla introduced a new concept to improve the way people live by developing spaces that enhance occupant health and quality of life by sharing WELL principles globally.WELL version 1 was first introduced in October 2014 and through further research and studies,was developed and expanded into WELL version 2 that was launched in 2018.It is managed and administered by the International WELL Building Institute(IWBI),an American public benefit corporation and third-party certified by Green Business Certification,Inc.(GBCI),the same group that administers LEED certification.WELL is an independently verifiable,performance-based system for measuring,certifying and monitoring features of the built environment that have impact on human health and well-being.It combines the best practices in design and construction grounded in a body of evidence-based medical and scientific research.It is designed to complement and work seamlessly with green building rating systems,such as LEED,living building challenge,three star,green star and bream.WELL harnesses buildings as vehicles to support human health and well-being.WELL is composed of over 100 features that can be applied to each building project for a customized approach.Each WELL feature is designed to address issues that impact health and wellness through design,operations and behaviour.WELL certified spaces and WELL compliant core and shell developments can help create a built environment that improves nutrition,fitness,mood,sleep patterns,productivity and performance of the people working,living,shopping,or playing inside of them.It is an investment in the worlds most valuable asset-people.PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20246061WELL provides a framework for project teams to incorporate a variety of strategies to integrate human health and well-being at the heart of building design,construction and operations.It can add value to real estate assets,generate savings in personnel costs and enhance human health,well-being,and experience.The WELL Building Standard version 2(WELL v2)is a vehicle that aspires to transform buildings and organizations in ways that deliver more thoughtful and intentional spaces to advance human health and well-being and help people thrive.WELL v2 includes a set of strategies backed by the latest scientific research that aim to foster a culture of health and well being through design interventions and operational protocols and policies.This has been the mission since WELL was launched in 2014.Built upon the pioneering foundation of the first version(WELL v1);WELL v2 draws expertise from a diverse community of WELL users,practitioners,public health professionals and building scientists around the world.It can be applied across many real estate sectors.WELL is also organized into project types which take into account the specific set of considerations that are unique to a particular building type or phase ofconstruction.WELL v2:Equitable,Local,DynamicWELL v2 is a global tool being utilized in more than 50 countries.In order to tailor-fit it for people and spaces around the world,it approached the goal of globalization through a strategy of localization;taking into consideration regional health concerns,cultural norms and market realities.The latest version of WELL is designed to be regularly and proactively adapted to varying contexts and constructs,making it relevant and readily applicable to spaces and places across the globe.WELL v2 is a dynamic tool since it is built in a system that can continuously learn,evolve and improve.With every WELL project comes a powerful opportunity to catalyze built spaces as mechanisms to deliver health and wellness benefits to all people within them.In 2020,the International WELL Building Institute(IWBI)formed a Governance Council composed of key global thought leaders,doctors,public health professionals and business executives.The IWBI Governance Council is tasked with a dual purpose of upholding the integrity of the WELL Building Standard development process and accelerating market transformation at a global scale.The first task of the Governance Council was to vote confirm that WELL v2 meets the defined best practices for standard development and that each WELL feature meets four tenets:1.Evidence-basedEach WELL feature is underscored by available evidence that links design,policy and built environment strategies to health and well-being outcomes.Features are substantiated by diverse and rigorous evidence-based studies,including peer-reviewed PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20246263literature;academic research;and leading design standards,laws,codes and best practices.2.VerifiableAll WELL features are third-party verified by GBCI through documentation and/or performance testing.3.ImplementableAll WELL v2 features have been tested through WELL v1 and/or WELL v2 pilot demonstrating adoption and uptake by projects across the world.4.Presented for outside inputAt every step of the way,IWBI gathered feedback from a diverse community of practitioners,subject matter experts,users and other third parties to inform the development and evolution of WELL.Principles of WELL v2WELL v2 is founded on the following principles:Equitable:Aims to benefit a variety of people,including and especially disadvantaged or vulnerable populations.Global:Proposes interventions that are feasible,achievable and relevant across many applications throughout the world.Evidence-based:Draws upon a diverse and rigorous body of research across varying disciplines,validated by a collaborative body of experts,including IWBI advisors.Technically robust:Defines industry best practices and validates strategies through performance verification and a rigorous third-party verification process.Customer-focused:Sponsors the success of WELL users through dedicated coaching services,dynamic resources and an intuitive platform for navigating the journey.Resilient:Keeps pace with advances in research,science,technology and society,continuously improving by integrating new findings.Project TypesWELL v2 projects fall into one of two main groups,determined primarily by ownership type:Owner-occupiedThe project is mainly occupied by the project owner.WELL CoreThe project owner occupies a small portion of the project area and rents/leases most of the space to one or more tenants.Owner-Occupied Projects:Interiors represent a particular case of owner-occupied projects,where the project owner rents/leases space within a larger building that is less than half the size of the base building.WELL Core Projects:Is a distinct pathway for core and base buildings seeking to implement fundamental features to benefit tenants.In these projects,the majority of regular occupants are not affiliated with the project owner.Any building type can register for WELL Core,provided that at least 75%of the project area is occupied by one or more tenants and/or serves as common space in the building accessible to all tenants.Concepts of WELLThe original WELL v1 promotes 7 concepts which were later expanded into WELL v2 that now comprise 10 concepts.Each WELL concept consists of features with distinct health intents.Features are either preconditions or optimizations.WELL v1WELL v21.Air2.Water3.Nourishment4.Light5.Fitness6.Comfort7.Mind1.Air2.Water3.Nourishment4.Light5.Movement6.Thermal Comfort7.Sound8.Materials9.Mind10.CommunityEach concept is broken down into features intended to optimize the health and well-being of the people inside a building through dedicated strategies and tactics,while minimizing harmful side effects associated with spending time indoors.Features ate categorized as either preconditions which are necessary to achieve all levels of WELL Certification or optimizations which create flexible pathways towards each certification level,Bronze,Silver,Gold,and Platinum.The list that follows includes features and strategies that WELL Core projects often pursue to meet their certification goals.1.Air:Indoor environments are one of the only places where we have control of air quality.However,indoor air can be even more polluted than outdoor air if toxic materials or cleaning agents,which emit volatile organic compounds or semi-volatile organic compounds(VOCs and SVOCs)are present.PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20246465Informed selection of building materials,thoughtful building maintenance and an effective ventilation system can help mitigate poor indoor air quality.Provide robust and responsive ventilation and filtration systems Mitigate exposure to mold and toxicants such as VOCs,lead and asbestos Utilize safer cleaning products and pesticides Prohibit smoking onsite Prevent outdoor contaminants from traveling indoors at entrances Consider additional air sanitization and purification methods2.Water:Clean water is critical for maintaining health and preventing disease,but quality of water is affected by municipal treatment and can also be contaminated by biological,chemical and radioactive pollutants.Base building water monitoring and quality control is the most effective way to ensure high quality water is delivered to tenants.Provide access to high quality water Mitigate any water quality concerns Consider quarterly testing and advanced strategies such as carbon filters,reverse osmosis,and UV sanitization3.Nourishment:Food plays a vital role in chronic disease prevention and weight management,helping to control against the risk of diabetes,heart disease and cancer,all of which are linked to poor diet.Building location and operation,including availability of healthy foods and beverages,appealing presentation of healthier food options,and marketing of healthy foods can profoundly influence the choices that people make when it comes to selecting snacks and meals.Provide hygienic hand washing stations and suitable supplies Create a supportive environment for healthy food consumption Consider availability of healthy food options in or near the building4.Light:Daylight is necessary for human growth and development,and also controls our circadian rhythm.Exposure to artificial light during the evening and nighttime can negatively affect a range of physiological functions,including cognition and sleep quality.Building design and fit out can positively influence both the quantity and quality of light provided to tenants.Provide access to daylight and close proximity to windows Prevent unwanted glare through window shading and shielding of lights Consider ambient lighting systems that provide circadian benefits5.Movement:Frequent movement and regular exercise are key to achieving and maintaining optimal fitness,and promoting overall health and well-being.However,modern transportation,labor-saving conveniences and office-based jobs have created an environment in which millions of people not only fail to get the minimum amount of recommended daily physical activity,but also spend too much time being sedentary.Thoughtful building location and design allow employees and other building visitors and staff to integrate short bouts of physical activity into their day.Use engaging design and placement for staircases Consider onsite amenities such as outdoor benches,fountains,bike storage,showers and/or gym facilities6.Thermal Comfort:The indoor thermal environment not only impacts our buildings energy use,as cooling and heating in developed and many developing countries account for approximately half of a buildings energy consumption,but also plays a large role in the way we experience the places where we live and work.Thermal comfort is linked to our health,well-being and productivity and is ranked as one of the highest contributing factors influencing overall human satisfaction in buildings.Your buildings interior and exterior design,as well as informed decisions about materials and base building systems,influence occupant comfort.Maximize productivity through improved HVAC system design Provide optimal thermal comfort for building occupants7.Sound:Feeling comfortable and relaxed can improve productivity and focus.However,many employees report that they are uncomfortable and distracted during the day as a result of a lack of control over their indoor environmental conditions.PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20246667While noise is ubiquitous,we can adopt technologies,practices and policies designed to create quieter environments and minimize our exposure to harmful and unnecessary noise.Create high quality acoustic environments and minimize intrusion of internally generated noises Consider enhanced acoustic treatments and thermal comfort methods8.Materials:Building materials and products are not only an integral part of our lives but,unlike most consumer goods,have a much longer use phase,making their chemical composition,and potential impact on indoor air quality,significant.WELL promotes the identification,evaluation and management of hazardous ingredients across building materials,cleaning products,waste,outdoor spaces and landscaping.Reduce human exposure to hazardous building materials Enable informed decision-making Support innovation in green chemistry9.Mind:Mental health plays a vital role in an individuals overall health and well-being:Depression alone is the leading cause of disability worldwide,and mental,neurological and substance use disorders account for 14 percent of the global burden of disease.Thoughtful and flexible base building design can have an impact on tenant mental health and well-being,and can also help support the implementation of supportive company policies.Engage tenants in the process of incorporating healthy elements Provide health education and awareness for occupants Consider using biophilic design principles and celebrating local art and culture10.Community:Designing built spaces in a way that enables all individuals to access,participate and thrive within the systems and structures of each community is essential to shaping individual and collective health outcomes.Supportive base building design provides a foundation for supportive company policies.Support access to essential healthcare,workplace health promotion and accommodations for new parents Establish an inclusive,integrated community through social equity,civic engagement and accessible designUniversal PreconditionsPreconditions define the fundamental components of a WELL space and serve as the foundation of a healthy building.WELL v2 offers a universal set of preconditions for all projects.All preconditions are mandatory for certification.All parts in preconditions are likewise mandatory.Flexible Optimizations Optimizations are optional pathways for projects to demonstrate achievement in WELL.Project teams may choose the optimizations they want to pursue.Further,projects may choose which parts to pursue within optimizations up to the maximum point established for the optimization.Meaningful WeightingsWELL v2 operates on a points-based system,with 110 points available in each project.All optimizations have maximum point-values.The point-value of a feature is determined by its potential for impact.This is defined as the extent to which a feature addresses a specific health and wellness concern or opportunity for health promotion,and the potential impact of effective intervention.Space TypesAll parts of WELL v2 are designated for specific space types.Space types refer to spaces within a project and not the project as a whole.Identifying space types within a project can help clarify how WELL features apply to that particular project.Space Type OccupancyIn addition to the classification of space types within a project,WELL v2 also distinguishes spaces based on their level of occupancy:Regularly occupied space:areas inside the project where a particular individual normally spends at least one continuous hour or,cumulatively,at least two hours per day such as offices,conference rooms,bedrooms and classrooms.PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20246869 Occupiable space:spaces that can be occupied for any task or activity,including transition areas or balconies,but excluding spaces that are rarely accessed such as storage spaces or equipment rooms.Rooms larger than 930 m2(10,000 ft2 ft)may be divided into separate zones(at least 325 m2(3,500 ft2 each),which may be evaluated for occupancy independently.Occupant TypesWELL uses specific terminology to refer to groups of individuals that share characteristics.Project teams must employ a single,consistent definition of these terms across relevant features:Occupant:any individual within the project boundary.Regular occupant:an individual who spends at least 30 hours per month across at least five days within the project boundary(e.g.,employee,resident,student).Visitor:any occupant who is not a regular occupant(e.g.,shopper,museum-goer,hotel guest).Employee:an individual who works for the project owner within the project boundary.Eligible employee:an employee identified as qualifying for benefits.At a minimum,this includes all full-time employees but may also include part-time employees,interns,contracted workers and other non-full-time employees as appropriate.Feature Applicability and ScoringFeatures have varying scopes of applicability for WELL Core projects,depending on the relevant population and project area.Applicability designations are defined as follows:Whole Building includes all areas within the project boundary.To use this pathway,project teams need to submit as part of documentation review,design assumptions and sample cut-sheets(as applicable)that justify the budget and can be used by the tenant during their design and construction process.Extent of Developer Build-out includes all non-leased space and all construction within the leased space for which the project team is responsible.Leased Spaces Includes all areas within the project boundary that are leased to or owned by tenants,including areas for lease or for sale that are not currently occupied.Non-leased Spaces are areas within the project boundary that are not considered leased space.Total Points AchievedWELL v1WELL v2Minimum points per conceptLevel of CertificationMinimum points per conceptLevel of Certification40 pts0WELL Bronze0WELL Core Bronze50 pts1WELL Silver0WELL Core Silver60 pts2WELL Gold0WELL Core Gold80 pts3WELL Platinum0WELL Core PlatinumProjects may earn no more than 12 points per concept and no more than 100 points total across the ten concepts.Projects can also pursue an additional ten points in the Innovation concept.A project may seek additional points in concepts where the project has already reached the 12-point maximum by submitting features or parts not already pursued within those concepts as innovations for consideration.These submissions are worth one point per part,regardless of the listed point value of that part.WELL v2 Building Management Staf are individuals responsible for maintaining and operating the building,including contractors and sub-contractors.Workers who spend less than 30 hours per month in the building are not considered building management staff.Direct Staf are building staff under direct employment by the project owner.Projects must use a single consistent population across all features,including preconditionsDynamic WELL ScorecardWELL Online guides project teams through the development of a unique scorecard.The digital platform recommends a selection of features based on project-specific parameters that can be further defined and refined by the project team.Scoring and Certification LevelsProjects must achieve all preconditions,as well as a certain number of points towards different levels of WELL Certification:PHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20247071For WELL Core Certification,projects must earn a minimum of one point per concept.Projects may earn no more than 12 points per concept.WELL Core projects have different point-values for parts and features than owner-occupied projects,based on the extent to which the requirements benefit all occupants within the project.Features that must be met for the whole building are generally worth more for WELL Core,while features with no or limited effect on tenants are generally reduced in value.Some features allow WELL Core projects to earn points for applying the feature outside of the leased space and earn an additional point for achieving the requirements for their tenants.In addition,some features allow projects where non-leased spaces makes up 40%or more of the project area to earn an additional point without extending requirements to other populations or spaces.Projects are only eligible for one additional point per feature.To earn additional points,WELL Core projects should first meet the baseline requirements of the feature established in WELL Core guidance.The exception is projects that do not include the baseline occupant population or relevant project area within their scope;these projects may pursue the additional points in their scorecard without meeting the baseline feature requirement first.WELL CoreWELL Core Certification is a distinct pathway of achievement for core and shell buildings seeking to implement fundamental features in the base building for the benefit of tenants/residents.All building types can register for WELL Core provided that at least 75%of the project area is occupied by one or more tenants/residents and/or serves as common space in the building accessible to all tenants/residents.Note that offices affiliated with the project owner but unrelated to the management of the project property may be considered a tenant so long as additional tenants unaffiliated with the project owner occupy at least 60%of the gross floor area.ScopeFor WELL Core projects,at least 2.5%of the total building floor area must be available for performance testing.The available testing area must include all common areas and spaces directly under the control of the building management team.If common areas and spaces under owner control comprise less than 2.5%of total building floor area,the project must supplement with tenant spaces to reach this threshold.Testing in leased spaces in these cases can take place before or after tenant occupancy.Some performance-based optimizations explicitly state that they require testing in tenant spaces to be awarded.The project is responsible for identifying and communicating with Green Business Certification,Inc.(GBCI)and the WELL Performance Testing Agent the particular spaces which are available for testing.WELL Process for CertificationThe certification depends on the features you choose to pursue any of one of three levels:Silver,Gold,or Platinum.At the point of registration,projects may elect to either:1.Register for single-cycle certification2.Register and activate a three-year or five-year subscription(WELL v2 only)Total Points AchievedWELL CertificationWELL Core CertificationMinimum points per conceptLevel of CertificationMinimum points per conceptLevel of Certification40 pts-1WELL Core Bronze50 pts2WELL Silver1WELL Core Silver60 pts2WELL Gold1WELL Core Gold80 pts2WELL Platinum1WELL Core PlatinumWELL v2 pilotPHILIPPINE CONSTRUCTION INFORMATION Rider Levett Bucknall Philippines,Inc.2024 Rider Levett Bucknall Philippines,Inc.20247273For projects that sign-up for subscription,recertification and mid-cycle reviews are included.1.Register your project to get started,and meet your coaching contact to talk process and review your certification goals.2.Submit documentation to demonstrate that youve met the mandatory elements of the WELL Building Standard(preconditions),as well as optional strategies(optimization features)that meet your goals.3.Complete performance verification with your WELL Performance Testing Agent,who will visit your project and complete visual inspections as well as performance tests.4.Certify:Depending on the features you choose to pursue,you can earn certification at one of four levels:Bronze,Silver,Gold or Platinum.5.Recertify:Demonstrate your commitment to top performance by renewing your certification every three years,including additional onsite testing and documentation review.WELL Reviewer and Performance Testing AgentRoles and Responsibilities WELL Reviewer:it is the third party individual responsible for reviewing the project for certification.After submission for certification the WELL Reviewer is responsible for reviewing both documentation and performance test results for compliance with WELL requirements.WELL Performance Testing Agent:conducts performance tests on-site,send samples to labs for testing and submit results for Performance Review by the WELL Reviewer.Project Team:Project Administrator:He acts as project manager and oversees the WELL process.He is the primary point of contact on the project and must be Data Sources:https:/ https:/ on all correspondence with IWBI and the WELL Reviewer.This individual will also be the recipient of a comprehensive WELL report following documentation review and performance verification,as well as the WELL award package.He can be a WELL Accredited Professional(WELL AP),the owner,or another designate
2024-12-29
90页
5星级
1A research report by Richard Candell,Mohamed Kashef(Hany),Jing Geng,and Karl Montgomery of the CommunicationsTechnology Laboratory,National Institute of Standards andTechnology(NIST),Gaithersburg,MD,USA.Wireless Deployment Challenges in Construction:A 5G StrategyA subsidiary of the InternationalSociety of AutomationWHITEPAPER1Wireless Deployment Challengesin Construction:A 5G StrategyRichard Candell,Mohamed Kashef(Hany),Jing Geng,and Karl MontgomeryAbstractIn the construction context,integrating 5G networks presents numerous challenges.This article explores deploying wireless communication networks within construction projects,introducing a compar-ison approach to assess deployment diffi culty at each project phase.Additionally,we outline a strategic blueprint for a specialized testbed to evaluate 5G network performance in real-world construction conditions.This controlled environment mimics actual construction scenarios.We aim to offer valuable insights into the unique challenges of implementing 5G in construction,emphasizing untapped research opportunities.The discussed structured approach evaluates network performance,addressing wireless communication complexities in the industry.INDUSTRIAL WIRELESS AND THE CONSTRUCTION INDUSTRYConstruction sites are areas of land where construction work takes place.Construction sites may include activities such as demolition,fi lling,and grading of land and the erection of struc-tures such as buildings,bridges,and other improvements for future human activities.Construction sites,especially industrial or commercial construction,can be highly dynamic environments characterized by heavy machinery,tools,and people in constant motion.Activities within the construction environment must be coordinated and monitored to effi ciently achieve daily goals,monitor the health of equipment,monitor the ambient environment,and assure the safety of the people working within the construction environment.Future construction sites will include automated vehicles,remote control of heavy machines,numerous sensors,surveillance cameras,Published May 2024 by A,a subsidiary of International Society of Automation(ISA).Authors Richard Candell,Mohamed Kashef(Hany),Jing Geng,and Karl Montgomery are with the Communications Technology Laboratory,National Institute of Standards and Technology(NIST),Gaithersburg,MD,USA.2safety alarms,and emergency stops.Reliable and rapid communication is a key requirement toachieve coordination and safety objectives,and due to the highly mobile and dynamic natureof the construction site,wireless emerges as the primary form of communication for thesescenarios.In some construction scenarios,a hybrid deployment of wired and wireless technologyis indicated,yet wireless communications will lead due to its untethered nature and resultingperceived ease of deployment.While it is possible to communicate to a remotely controlledbulldozer without wireless,such a scenario is impractical as having cables run throughout thework zone presents reliability and safety concerns.Therefore,wireless communications presentitself as the lead communications mode in the construction industry,and,given the localeand highly heterogeneous mix of applications in construction,the 5G network becomes a leadcontender in supporting such a mix of applications.AREALLCONSTRUCTIONSITES THESAME?Construction sites all have similarities that are unique to the construction industry.For example,most construction projects begin outdoors with the movement of terrain.Some remain entirelyoutdoors,and others change into mostly an indoor profi le or a hybrid of the two because ofthe construction.Construction projects that begin with bare terrain require heavy machinery andground personnel,and most modern construction projects employ some degree of automation,remote machine operation,video surveillance,and voice conferencing and always include humansafety.Communication is a key element of coordination,tracking,and safety in all cases.It isimportant to note the difference between a completed construction project and an ongoing one.An active construction project requires that the communications network supporting constructionactivities adapt to the project itself,whereas a completed construction project will have acommunications network that supports the intended operation of the enterprise within.Thiswork focuses on the wireless networks supporting an active construction project from inceptionto completion.Construction projects may be classifi ed into three main categories:Commercial,Industrial,and Public.Table I lists several examples of our three classifi cations of use cases.It is worthnoting that airports are divided into the commercial space and the runway.Arguments could bemade to keep the two together as one project example;however,to remain true to the division of3commercial space and public works,we maintain the two as separate entities.Indeed,a runway,similar to a road or railway,is distinctly different from large spaces such as an airport.TABLE I:Examples of Construction ProjectsIndustrialCommercialPublicAssembly PlantsShopping CentersRoadsOil Refi neriesResidential BuildingsBridgesWater/WastewaterTall Offi ce BuildingsRailwaysTank FarmsFlat Offi ce BuildingsPorts&HarborsPower GenerationWarehousesRunwaysWood and Chip YardsHospitalsSchoolsSpace PortsStadiumsTunnelsUndergroundAirportsGaragesFood ProcessingIndustrial:Industrial construction projects,in contrast,include the building of manufac-turing and assembly facilities,oil refi neries,chemical plants,tank farms,agriculture,and wa-ter/wastewater treatment facilities.Industrial facilities are usually composed of open,gradedterrain with industrial larger open or closed structures made of steel supports with a sheet metalroof and walls resting upon a concrete slab.Industrial projects are usually characterized by largerectangular spaces where radio signals may propagate openly.For example,a large pulp andpaper chip mill will require extensive civil engineering work to grade and level the industrialsite to provide ground for the storage of raw and processed materials and the installation oflarge machinery.The machinery within the chip mill will tend to be large and the spaces moreopen.Inside communications would be required at times,yet the scale and openness of theconstruction site will mostly remain.Commercial:Commercial construction projects include the building of warehouses,resi-dential spaces,offi ce spaces,airports,and other projects used for private or public use.Due to thearchitectural design of these spaces,radio signals will often have diffi culty propagating throughthese spaces as construction progresses.The materials in commercial construction usually havea mixture of concrete,steel,plastics,and wood products and tend to contain more absorptivematerials at times.Commercial construction sites will become more cluttered and closed off asthe construction progresses as spaces are created,and absorptive materials are laid.Public:Finally,public construction includes roads,bridges,railways,and public works.Public construction projects will vary in their characteristics and may resemble either a com-4mercial project or an industrial project,depending on the nature of the construction.Roads andrailways will often be long open spaces and remain that way throughout construction.In contrast,a school will begin with open space and steadily progress to have many enclosed spaces withinreinforced concrete construction.A public water works facility will have indoor and outdoorcomponents and a mixture of concrete and metal,which is not necessarily reminiscent of anyother industrial type of construction.CONSTRUCTIONZONECHANNELIMPACTFACTORSWhile considering the many different types of construction environments,during our inves-tigation,we discovered that the key elements affecting the viability of a construction networksimplifi ed to three principal considerations relating to the physical environment.These consid-erations include the geometry of the work zone,the number of materials for the walls beingconstructed,and the types of materials used to construct floors and ceilings.Much researchhas been and is currently being undertaken to characterize the propagation characteristics ofconstruction spaces primarily focusing on the fi nished industrial spaces such as in 1.Whileit is important to understand all of the impacting factors of a work zone,we must be carefulto capture the factors such that they minimally overlap in their impacts on wireless systemperformance.This approach is synonymous with maintaining the linear independence of variablesin a system of linear equations,and we attempt to maintain this independence throughout thiswork.We should also note that the focus so far has been on the physical environment,yetconstruction has other factors that can otherwise degrade the performance of the constructionnetwork such as radio frequency interference from welding,unshielded power electronics,andco-existing network traffi c.In the following sections,each attribute has been assigned a valuesuch that the assigned value may be directly mapped to a wireless channel degradation impactof Low,Moderate,or High.A.Work Zone GeometryThe geometry of a work zone indicates the relative size and shape of the physical volumeinside which the construction activities will take place.A larger work zone requires a morepowerful wireless network,and the shapes and general clutter within the vicinity of the workzone will determine the ease of getting a wireless signal into the work zone from the outside.5The work zone geometric factors include the area and exterior radio frequency(RF)penetrabilityof the zone.Area of the Work Zone:All work zones are three-dimensional geometrical volumes con-strained by the area of the construction site and the height of the objects within the workzone including the object being constructed and the machinery utilized.The work zone area isdefi ned as the horizontal geometrical area of the work zone along the surface of the constructionterrain(i.e.,usually Earths surface).Not all work zones are the same.Work zones vary by theconstruction class,be it a roadway or a tall building.A tall building usually begins with one ormore city blocks,and a city block is approximately 2.5 acres or 10,000 m2.An average airportrunway typically runs 45 m by 3 km.In contrast,an oil refi nery is an enormous constructionof several hundred football fi elds such that the typical land area of a refi nery becomes 2.5 km2.While all of these types of construction zones are large and complex,the size difference ofan oil refi nery is vastly different from that of an offi ce building.Thus,the range,power,andsubsequent licensing requirements differ vastly.Each work zone area(i.e.,its size)is attributedas Small(under 10,000 m2),Medium,and Large(greater than 2.5 km2).Height of the Work Zone:The height of the work zone can range from several meters fora typical roadway or warehouse to several hundred meters for a tall building.While the heightof the work zone is important,to maintain independence,we have captured the impact of heightin other variables to follow.Exterior Penetrability:The ease of getting an RF signal into a structure under constructionis noted as its exterior penetrability.Exterior penetrability indicates the ability of an RF signalto enter into the interior of the work zone.For example,at the beginning of a green fi eldconstruction project,this factor will indicate unencumbered propagation as nothing has beenerected;however,as the work progresses,structures are built,and the penetrability impact ofthe factor increases.In a high-rise building,as the steel structure is built and a center concretestructure is constructed,passing a signal to the interior becomes more diffi cult.Once the exteriorwalls are affi xed to the structure,passing a signal through those walls becomes more impactful.Exterior penetrability has been parameterized as Open,Somewhat Blocked,and Blocked.B.Interior WallsInterior walls play an important part in how well wireless signals propagate from one roomto the next.This area of research has been well-studied for home and offi ce buildings.Finished6industrial spaces have also been studied relatively well regarding the reflectivity of materials andthe level of resonance within a particular industrial space.In construction,the types and materialsof the wall structures are similar and are presented in 2.Principal factors for a wall includetransparency,reflectivity,and numbers.Maintaining variable independence,we omit other well-known factors,for example,absorption,as it is dependent on transparency and reflectivity suchthat total power is the sum of reflected,absorbed,and permeated powers.We consider thesefactors from the more practical engineering perspective of bulk power transfer rather than fi eldstrength and other measures.Wall Transparency:The ability of a wall to allow RF power to pass from one side to theother is its transparency.Transparency is considered as High(22 dB of power loss).Wall Reflectivity:The tendency to reflect RF power back into the environment rather than topermit power to pass through it or absorb it is its reflectivity.A highly reflective environment willresonate,whereas a low reflective environment will tend to attenuate.It is typically measuredin decibels of attenuation of incident power and is dependent on the material and angle ofincidence,yet we consider reflectivity as an average value.Reflectivity can be helpful or hinderthe performance of a wireless network.For later impact analysis,we assume that the reflectionswill lead to resonance causing destructive multi-path,yet this is not always the case.The valuesof reflectivity are given as Low(50%).Number of Walls:The number of walls has the apparent impact of additional attenuation ona signal.Many highly transparent walls will accumulate to a high loss of power as the number ofwalls grows.A highly attenuating material such as reinforced concrete will signifi cantly attenuatea wireless signal with a single 10 cm wall and with two walls,almost completely.We considerthe cases of No Walls,One Wall,and Two or More as a progression of severity.C.Floors and CeilingsWhile interior walls divide horizontal spaces,floors and ceilings divide vertical spaces.Thetype of floors and ceilings in construction zones depends mainly on the class of constructionundertaken.Many construction projects are single-story edifi ces,but many are multi-storied.Roofs and ceilings will impact to some degree the penetrability of outside signals to enter thework zone.Internally,ceilings will either reflect or absorb a wireless signal.Story dividers,i.e.,floors,may be built of wood,concrete,plate steel,and perforated steel.These vertical7dividers inhibit signal propagation vertically as construction progresses.Some steel flooring,forexample,in industrial spaces come in rectangular panels,that are perforated,grated,serrated,andgalvanized.The propagation characteristics of this material both reflect and pass wireless signalsand are highly dependent on wavelength.When considering floors and ceilings,we employ thesame factors that we utilize for walls:Transparency,Reflectivity,and Numbers.D.Impact Analysis of the FactorsAmong the several construction project scenarios listed in I,the impact attributes for eachscenario were assigned a value for three stages of construction:Early-Stage,Mid-Stage,andLate-Stage.We begin our analysis by making the assumption that the project begins with a“green fi eld”or follows demolition thus exposing a green fi eld.Demolition can be consideredas beginning with an existing brownfi eld synonymous with a late-stage construction fi eld.Early-stage construction indicates a green fi eld or otherwise open environment that is clear of clutter,obstructions,or other channel-impacting variables.Middle-stage construction is characterizedby the main structure for the project having been erected or in the process of being erectedbut still unfi nished.Finally,Late-Stage construction is characterized by the most fi nal producthaving been erected with most exterior elements,such as walls and windows being installed.Technically,communications deployment may begin at any stage of construction.In Table II,we illustrate the impact attribute assignments for each of the scenarios selected at each stageindicated.It is interesting to note that,at the early stages,assuming green fi eld construction,all of thescenarios begin with a relatively low wireless impact except moderate to large site geometriessuch as long or large work zones such as roads and rails,assembly,and oil refi neries.Larger con-struction sites indicate larger transmission distances;hence,licensed band wireless technologiesare indicated to accommodate the increased transmission power requirement to accommodatethose distances.Of course,unlicensed band technologies work over larger distances but at reducedthroughput.Such technologies would support the Industrial Internet of Things(IIoT)withinthe construction work zone,but it would not support the higher data rates needed for video,augmented reality,and remote-controlled operation of heavy machinery.As construction progresses and structures are erected,the complexity of the work zone in-creases,as do the impact factors on the wireless channel,as shown in the radar plot of Fig.1.From this fi gure,we can observe that the impact factor attributes of each construction project8TABLE II:Asserted Impacts to the Wireless Communications Channel in Construction.PublicCommericalIndustrialRoads and RailsGaragesWarehouseStadiumsTall Offi ce BuildingsAssemblyOil Refi neryAttributeE M L E M L E M L E M L E M L E M L E M LSite GeometryAreaH#H#H#H#H#H#H#H#H#Penetrability#H#H#H#H#H#H#H#WallsTransparency#H#H#H#H#H#H#H#H#H#Reflectivity#H#H#H#H#H#H#H#H#Numbers#H#H#H#H#H#H#H#H#Floors&CeilingsTransparency#H#H#H#H#H#H#Reflectivity#H#H#H#H#H#H#H#H#Numbers#H#H#H#H#Stages:Early(E),Middle(M),Late(L);Factors:#Low,H#Moderate,Highdiffer substantially with the wireless channel becoming increasingly diffi cult as each trace pushestoward the outer edge of the diagram.For example,a stadium having begun as a green fi eldprogressively becomes more challenging for a wireless system as steel structures and concreteare installed with the most challenging factor being exterior penetrability,which becomes a factorfor external networks.This challenge poses an obvious research opportunity for construction.Similarly,the high-rise building becomes an increasingly challenging wireless environment aswalls,floors,ceilings,and other structures are built,creating an increasingly harsh wirelessenvironment.If we then study the progressively more complex wireless channel environment,we can observethat the channel becomes evermore challenging by defi ning a channel impact score defi ned asthe sum of all attributes for a particular construction work zone at a particular project stage,normalized by the maximum possible score.Using this approach,we have created a wirelesschannel impact score based on the attributes of the work zone that indicate the severity ofthe wireless propagation channel.Correlating this score to a spatial-temporal channel impulse9Fig.1:Comparisons of Wireless Channel Impact Factors for Different Construction Projects.response similar to those found in 3 is an important area of research.Fig.2 illustrates thenormalized impact score for each of the seven example construction areas that we have so fardiscussed.This scoring mechanism represents a basis by which wireless network performance forselected construction scenarios may begin to be evaluated taking into consideration the reliabilityand latency requirements of the use cases supporting the said scenario and the 5G service classesused to support those scenarios.5GINCONSTRUCTION5G Service CategoriesWhy consider 5G?Its versatile wireless technology accommodates diverse communicationneeds and deployment structures,making it suitable for various construction applications.Whileother wireless solutions are viable,we opt for 5G stand-alone(SA)private networks for severalreasons.Firstly,5Gs built-in determinism,leveraging time and frequency diversity,supportschannel resource allocation.Spatial diversity is enhanced with multiple-input multiple-output(MIMO)antennas,including massive MIMO systems for optimal device support and beam10Fig.2:Normalized Total Channel Impact due to Construction Site Factors.directionality,ensuring a higher quality of service.Secondly,5G offers Quality of Service(QoS)support and flexibility in enforcing reliability policies through different service classesand network slicing.Additionally,it supports licensed and unlicensed deployment options,ex-panding available RF bands,and is progressing towards supporting various industrial protocolsfor improved interoperability in automation systems.There are three main 5G service categories:enhanced mobile broadband(eMBB),massivemachine type communication(mMTC),and ultra-reliable low-latency communication(URLLC).A new service class,Reduced Capability(RedCap),is emerging,offering reduced capabilitiesto that of URLLC class with less stringent latency and reliability requirements,making it morecost-effective and energy-effi cient.URLLC,with 1 ms latency and reliability exceeding 99.999%,is particularly relevant for construction applications.However,considering cost and battery life,RedCap may become a preferred choice for some applications.URLLC achieves low latency byallowing transmissions to interrupt lower-priority ones through the mini-slot concept and periodicgrant-free transmission.URLLC can support connectivity for automated guided vehicles,mobilerobots,teleoperated heavy machinery,and safety equipment in various construction scenarios.The eMBB category,with peak data rates up to 10 Gbit/s,benefi ts high-data-rate applicationslike augmented reality and remote operation video feedback.The mMTC category,with anode density of up to 100 nodes/m2,is suitable for massive wireless sensor networks,site11asset management,and various monitoring applications.A 5G network is not confi ned to aspecifi c service category,as these categories represent network performance limits from differentperspectives.Generally,a 5G implementation can meet specifi c communication demands throughQoS guarantees enforced by the user plane function(UPF)in the 5G core network.5G Enabling CapabilitiesVarious 5G releases offer capabilities to meet diverse service category demands,includingthose vital for construction communication networks.Key features such as network slicing,QoSsupport,software-defi ned networking(SDN),and network function virtualization(NFV)enabledynamic resource allocation and separation of user and control plane functions.Network slices,tailored to specifi c QoS requirements,span core network to radio access network(RAN)domains,while multi-access edge computing(MEC)places computing resources closer to the RAN andwithin construction sites for low-latency applications.Specifi c capabilities introduced for industrial wireless support in 5G include 5G-time-sensitivenetworking(TSN)integration and Open Platform Communications(OPC)Unifi ed Architecture(UA)support.In release 18,5G-TSN integration achieved centralized TSN implementation,ensuring time synchronization and timely data delivery through traffi c shaping and scheduling.The generic precision time protocol(gPTP)facilitates time synchronization between nodes.Additionally,OPC UA(IEC 62541-1)standardizes data communications in industrial automa-tion,enabling vendor-neutral interoperability.Integrating 5G with OPC UA allows constructionapplications to operate over 5G,facilitating coexistence and communication with legacy systems.Interaction with OPC UA devices can occur through TSN middleware or directly via the networkexposure function(NEF)introduced in release-16.5G Deployment OptionsThere are two main deployment approaches from the point of view of integration to a public5G network.The isolated SA deployment is not integrated into the public network,and all the5G network components are separated from the public network.The other deployment approachis the public network integrated(PNI)5G networks where industrial 5G non-public network(NPN)share some resources with a public 5G network.Shared resources are as follows:1)ashared public access network where a publicly available RAN is connected to an industrial 5Gnon-public network(NPN)core residing in a private cloud;2)a shared public access network12Fig.3:5G Service Classes for Construction Scenarios.where time-critical control plane functions and UPF functions reside on the local premises(edge)to assure low latency communications;or 3)a 5G network entirely hosted by the mobile networkoperator(MNO).Although isolated deployments require high capital expenditure for the procurement andsetup of equipment,they allow complete control over the confi guration and deployment of theindustrial 5G network.Additionally,it offers the highest level of data ownership,reliability,privacy,and security.This is mainly required for mission-critical applications such as motioncontrol,augmented reality,and low-latency closed-loop control.However,the main influencingfactor for low-latency applications is the location of the UPF that performs packet forwardingand QoS enforcement in addition to the RAN location.Isolated and PNI deployments,placingRAN and UPF within industrial premises,are ideal for low-latency applications.Shared-resourcedeployment options align better with use cases needing wide service area coverage and publicnetwork interconnection,like remote control,monitoring,and asset management.135G Uses Cases in ConstructionUtilizing the various service categories,enabling capabilities,and deployment options,manyuse cases become available to support the construction industry.As shown at the top of Figure 3,streaming video is the fi rst on the list that would utilize the eMBB service category.Streamingvideo enables situational awareness of construction activities as well as security monitoring ofthe work zone.Additionally,streaming video has become an essential part of the teleoperationof machinery and drone-based inspection.Streaming video is,therefore,an essential componentof most,if not all,construction projects,and thus the eMBB service category must be supported.Streaming high-defi nition(HD)video at a rate of 60 frames per second equates to a minimumof 5 Mbps with a peak bit rate of 10 Mbps.The high video quality may seem excessive,butits likely necessary for teleoperating heavy machinery around people in the work zone anddrone-based inspections.Furthermore,several of these activities operating concurrently wouldhave a multiplying effect on the 5G system.Teleoperation and mobile robotic platforms,apart from video-based observation,require aservice category that guarantees latency and reliability targets.As an example,teleoperationrequires that control messages reach the vehicle being controlled by recurring deadlines on thescale of milliseconds.Every type of remotely operated machine is different,therefore,the servicecategory may be either URLLC or RedCap.A teleoperated front loader requires the ability tomove forward,and backward,turn left and right,raise and lower its bucket,and control theorientation of its front,rear,and side cameras.A heavy-grade mobile manipulator would needsimilar control mechanisms and more degrees of freedom to control its end-effector.Additionally,haptic and audible feedback which are also latency and reliability sensitive are required as thesesignals provide important sensory feedback to the remote driver.Safety mechanisms such as fall detection,emergency stops,alarms,or the ability to stop orslow a nearby vehicle while a human is crossing in its path in a loud and confusing environmentrequire strict latency and reliability requirements.Hence,the URLLC service category is indi-cated.It is expected that actual safety execution be controlled at the edge,at the constructionsite itself,to minimize latency concerns.General safety conditions could be monitored remotelythrough the cloud.Machine and environmental condition monitoring through Industrial Internet of Things(IIoT)devices indicates the use of the mMTC service category.The mMTC service category was14specifi ed in the 5G standard to support IIoT use cases such as environment sensing and machinehealth monitoring.Generally,within a construction site,mMTC would be used to monitorenvironmental conditions within and around the structure being built and the machines thatare being used and left on-site.Depending on the scenario,the mMTC use cases could scalefrom a few to hundreds of sensors.Given these use cases and the requirements for each,one must also consider that the usecases would exist concurrently such that video,teleoperation,safety,and monitoring would beoperating simultaneously.The deployment architecture,type of service provider,and RF band orbands should be selected carefully to support the requirements of the construction project.Therequirements of each scenario would then determine if a 5G private network could be deployedlocally,a large service provider would need to be employed,or a combination of both.Werecommend that the selection of deployment architectures be an area of study for constructionactivities.5G TESTBED FORCONSTRUCTIONTo enhance our understanding and practical application of expertise in 5G construction envi-ronments,we conducted a literature review for applicable testbeds and channel measurements.Despite fi nding various experiments on 5G propagation in indoor and outdoor settings,we didnot identify a suitable 5G testbed specifi cally designed for construction environments.Channelmeasurement studies include a study on path loss in a reinforced concrete stairwell at differentfloor levels 4,a survey on building penetration losses at various frequencies 5,and anassessment of iron oxide levels in mortar for absorption 6.Other studies addressed 5G in rural,suburban,and urban environments 7,highlighted limitations in current wireless communicationcapabilities in construction 8,and discussed the need for 5G applications in construction 9.Given the lack of comprehensive coverage for construction scenarios,we recommend developinga dedicated 5G testbed for researching construction-specifi c concerns.Unlike conducting wireless network tests directly in an actual construction environment,our testbed offers enhanced flexibility for system validation and testing.It allows emulationof real-world environments without affecting operational settings,easily adapts to diverse usecases,and provides more accurate results than simulations.The testbed includes 5G systemhardware,various 5G-compatible user equipment(UEs)from different vendors,PCs,industrialcollaborative robotic manipulators,and networking devices.Our current focus is establishing a15Fig.4:5G Testbed Architecture for Experimentation in Construction Scenarios.remote operation control scenario with different Industrial Internet of Things(IIoT)traffi c andinterference,a common use case in construction.Fig.4 illustrates the primary building blocks and elements of the testbed.The 5G systemis constructed using a low-latency PC with 5G core network functions and a software-basedvirtualized gNB,leveraging the softwarization of 5G network functions.A Universal SoftwareRadio Peripheral(USRP)serves as the remote radio head for the Radio Access Network(RAN)implementation.This software-defi ned system allows experimentation on network function op-timizations and developments,providing flexibility for various levels of hardware accelerationupgrades.The 5G core utilizes container-based OpenAirInterface(OAI)network functions,en-couraging contributions and potential collaboration within the OAI community.In addition to the primary 5G system depicted in Fig.4,our testbed includes various 5G UEsand computing devices tailored for IIoT applications,network traffi c generation,and wireless16channel control.5G routers act as Customer Premises Equipment(CPE),facilitating connectivitybetween the 5G network and the local area network for remote operation of machinery,localcontrol systems,and monitoring.5G USB adapters are used to equip PCs and devices with5G capability,allowing experimentation and validation of the 5G system with various IIoTapplications and traffi c,such as data from cameras and IIoT sensors.To emulate real-worldscenarios,the testbed incorporates different wireless network devices to manage the impactof fading and RF interference,creating a wireless channel environment reflective of practicaldeployments.RESEARCHOPPORTUNITIESLooking ahead,the advancement of wireless communications in the construction industrypresents a myriad of exciting research opportunities that can shape the future of infrastructuredevelopment.These opportunities include the following:1)A more detailed understanding of wireless communications requirements in diverse con-struction scenarios is paramount.This involves delving deeper into the specifi c needs ofdifferent project classes and work zones to tailor communications solutions accordingly.2)Scoring approaches for various construction scenarios are essential for refi ning the accuracyof wireless connectivity assessments.3)Standardization of testing methodologies and RF aggressor specifi cations for construction,as exemplifi ed by standardization efforts of IEEE P3388 10,is critical for assessing theperformance of wireless solutions in real-world construction scenarios.4)Improved 5G transmission scheduling algorithms for optimizing resource utilization andminimizing communications latencies.This includes the development of intelligent algo-rithms that can adapt to the dynamic activities of construction sites.5)Developing 5G QoS support for different classes of construction scenarios through defi n-ing 5G QoS mechanisms that dynamically manage the QoS requirements and performQoS-based traffi c differentiation.This includes opportunities for integrating different 5Gcapabilities,such as TSN,into the corresponding 5G QoS classes.6)Incorporating functional safety standards within construction use cases is another areafor exploration.Investigating the implementation of black and white channels to en-sure reliable and disruption-free communication aligns with the industrys stringent safetyrequirements 11.177)Developing effective mitigation techniques for the changing wireless communications en-vironment of construction sites is an essential research area.These research opportunities offer a road map for research engineers and industry practitionersto collaborate and contribute to the evolution of wireless communication technologies tailoredto the unique demands of the construction industry.By addressing these challenges head-on,wecan collectively advance the adoption of wireless solutions in construction.CONCLUSIONThis article addresses complex wireless communication challenges in the construction industry.We introduce a systematic scoring system to assess wireless connectivity diffi culty throughoutconstruction phases,incorporating a comprehensive set of attributes.Exploring 5G service classesfor construction enriches our understanding of tailoring next-generation wireless communicationsnetworks to industry needs.We present a novel testbed design for deploying and exploringstrategies in a simulated construction environment.This research contributes to theoretical 5Gintegration and offers practical insights for practitioners.Our multifaceted approach aims to ad-vance wireless communication technologies for construction,fostering effi ciency and innovationin future projects.ACKNOWLEDGMENTSThe authors would like to acknowledge the contributions from Karl Jefferson,Jr.,of theLiUNA Laborers Health and Safety Funds of North America(LHSFNA)and Paul Vineyard ofOhio Laborers Training Center(OLTC)for their insights.REFERENCES1 K.Zhang,L.Liu,C.Tao,K.Zhang,Z.Yuan,and J.Zhang,“Wireless Channel Measurement and Modeling in IndustrialEnvironments,”Advances in Science,Technology and Engineering Systems Journal,vol.3,no.4,pp.254259,2018.2 W.Stone,“Electromagnetic Signal Attenuation in Construction Materials(NIST-IR 6055),”National Institute of Standardsand Technology(NIST),October 1997.Online.Available:https:/doi.org/10.6028/NIST.IR.60553 M.Hany,P.Vouras,R.Jones,R.Candell,and K.Remley,“A machine-learning approach for the exemplar extraction ofmmwave industrial wireless channels,”no.1,June 2022.Online.Available:https:/doi.org/10.1109/OJIM.2022.31813094 M.A.Samad,D.-Y.Choi,and K.Choi,“Path loss measurement and modeling of 5G network in emergencyindoor stairwell at 3.7 and 28 GHz,”PLOS ONE,vol.18,no.3,p.e0282781,mar 2023.Online.Available:https:/dx.plos.org/10.1371/journal.pone.0282781185 K.Haneda,J.Zhang,L.Tan,G.Liu,Y.Zheng,H.Asplund,J.Li,Y.Wang,D.Steer,C.Li,T.Balercia,S.Lee,Y.Kim,A.Ghosh,T.Thomas,T.Nakamura,Y.Kakishima,T.Imai,H.Papadopoulos,T.S.Rappaport,G.R.MacCartney,M.K.Samimi,S.Sun,O.Koymen,S.Hur,J.Park,C.Zhang,E.Mellios,A.F.Molisch,S.S.Ghassamzadeh,and A.Ghosh,“5G 3GPP-Like Channel Models for Outdoor Urban Microcellular and Macrocellular Environments,”in 2016 IEEE 83rd Vehicular Technology Conference(VTC Spring).IEEE,may 2016,pp.17.Online.Available:https:/ieeexplore.ieee.org/document/7503971/6 J.P.S.Ng,Y.L.Sum,B.H.Soong,M.Maier,and P.J.M.Monteiro,“Electromagnetic wave propagation through compositebuilding materials in urban environments at mid-band 5G frequencies,”IET Microwaves,Antennas&Propagation,vol.16,no.10,pp.627638,aug 2022.Online.Available:https:/ A.Schumacher,R.Merz,and A.Burg,“3.5 GHz Coverage Assessment with a 5G Testbed,”may 2021.Online.Available:http:/arxiv.org/abs/2105.06812 http:/dx.doi.org/10.1109/VTCSpring.2019.87465518 J.Mendoza,I.De-la Bandera,C.S.Alvarez-Merino,E.J.Khatib,J.Alonso,S.Casalderrey-D az,and R.Barco,“5G for Construction:Use Cases and Solutions,”Electronics,vol.10,no.14,p.1713,jul 2021.Online.Available:https:/ and Verticals.”Online.Available:https:/5g-ppp.eu/verticals/10 IEEE Working Group on Standard for Radio Frequency Channel Specifications for Performance Assessment of IndustrialWireless Systems.Online.Available:https:/standards.ieee.org/ieee/3388/10702/11“Industrialcommunicationnetworks-profi les-part3:Functionalsafetyfi eldbuses-generalrulesandprofi ledefi nitions,”InternationalElectrotechnicalCommission(IEC),February2021.Online.Available:https:/webstore.iec.ch/publication/62095
2024-12-29
19页
5星级
RIBA AI Report 20241RIBA AI Report 2024RIBA AI Report 20242ContentsForeword 03 Muyiwa Oki,RIBA Presi.
2024-12-29
34页
5星级
Leasing denotes space take-up in investment-grade malls,prominent high streets and standalone develo.
2024-12-29
20页
5星级
Transforming properties into Smart BuildingsThe Futureis Smart.is Smart.is Smart.1SmartnessGarbageCo.
2024-12-29
28页
5星级
Analysis of the Technological Innovation System for BIPV in the Netherlands 2024 PVPS Task 15 Enabl.
2024-12-29
35页
5星级
GREATER CHINA2025丨丨EXECUTIVE SUMMARY丨INTRODUCTIONThe commercial real estate market in Greater China .
2024-12-27
28页
5星级
Hotel Industry Trends Report 2024A passion for hotelsContentsCase studiesHow did we get here?Online travel agents(OTAs)are shaking things up OTA marketing investment has doubled the cost of paid ads for hoteliersA return to normal travel gives OTAs the upperhand Owning the guests,not just their reservations Cancellation rates back to normalWhats in store for 2024?Guldsmeden HotelsHastings Hotels040810111620241722Hotel Industry Trends Report 2024Contents03The reciprocal relationship between hotels and online travel agents(OTAs)is well understood but it would be a mistake to think that there exists an unchanging status quo.Hoteliers need to know that there have been some big shifts in spending patterns in the past year as OTAs seek to claim market share and,ultimately,redefine the role they play in the hospitality landscape.How did we get here?Hotel Industry Trends Report 2024How did we get here?05The most important tactic for those trying to get heads into beds has always been to avoid paying for the same guest twice,while the business model of the OTAs is to make sure every hotel pays for every guest,every time.This tension defines the relationship that sees both sides jostle to own the guest record,the guest journey and repeat bookings.These businesses depend on each other,and theres no getting away from that.The hotels need a wide audience,exposure and lead generation,while OTAs need inventory.Its a bond that will never be broken but what is up for grabs is the share of total revenue each is able to claim.The price for OTA-generated leads may be high but its important to remember that the commissions handed to OTAs dont just get paid out in shareholder dividends.A significant portion of their income is reinvested in marketing which,on some level,benefits the hotels themselves.In the past,the degree to which a hotel is dependent on OTA channels has been relatively static governed predominantly by supply and demand but hotels and OTAs are now finding new ways to increase their share of leads,own the guest and grow their own revenues.Central to this arms race are established strategies like revenue&customer relationship management(CRM)as well as novel solutions such as personalisation,which creates custom guest journeys,content,upsells and inventory depending on who the customer is and what theyre interested in.The battle remains one of lead generation and guest acquisition,and its the financial firepower available to OTAs that is really starting to alter the dynamics of the hospitality market in a way that hasnt been seen before.While hotels do benefit from exposure in the biggest marketplaces on earth,what should concern hoteliers is the point at which they lose sight of the horizon and it becomes disproportionately expensive to do business outside of OTA ecosystems.If you want to get ahead and stay there,the four watchwords of acquisition,retention,referral and remarketing must be maximized.In our 2024 Hotel Industry Trends Report,well show you just how fast the landscape is changing,what trends represent the biggest threats to revenue share and what hoteliers can do about it.Our data is based on analysis of over 50 million room nights across more than 2,000 international hotels that are currently using one or multiple Allora products and services,all designed to help hotels and resorts optimize their revenue generation and boost their bottom line.Rod Jimenez CEO of SHR Group06Hoteliers direct share of room nights sold droppedAnd in the same year the direct share of booking&total revenue fell 1%pt to(this doesnt include group,wholesale and other contract bookings made through PMS platforms)in 20233E%Hotel Industry Trends Report 2024How did we get here?07Online travel agents(OTAs)are shaking things upHotel Industry Trends Report 2024Online travel agents(OTAs)are shaking things up09The OTAs lost most of their revenues during the COVID-19 pandemic but are now investing heavily to claim market share from direct hotel bookings.The OTAs lost most of their revenues during the COVID-19 pandemic but are now investing heavily to claim market share from direct hotel bookings.For the last two years,our customers have seen the proportion of reservations booked directly remain stable at 39%1 but the past 12 months have seen a dramatic change in OTAs strategies,including increased marketing spend and intensive investment in their own loyalty programs.As a result,the direct share of reservations dropped by one percentage point to 38%1 in 2023,while indirect share of reservations increased from 61%to 62%1.That might not sound like a lot but it equates to approximately 7.8million reservations globally2.OTAs are also attracting longer staying guests,which means their progress is even more visible when we look at the share of room nights.Direct share of room nights has fallen from 47%to 44%year-on-year,while indirect has increased from 53%to 56%a change equivalent to approximately 65.6million nights worldwide2.Loss of direct share of reservations and room nights has inevitably also had a knock-on effect on revenues,which have both dropped 1%pt for direct channels.These are important shifts,and how significant they are will become clear in 2024 and 2025.However,if this is the start of a multi-year trend and a concerted effort by the OTAs to increase market share,theres no bigger clue than that emerging from the world of advertising.Remember,its the variation year-on-year thats important here.The share of figures we cite will be higher than industry averages because they dont include group,wholesale or other contract bookings made through PMS platforms1 Based on SHR Group analysis of over 50 million room nights across more than 2,000 international hotels that are currently using one or multiple Allora products and services,all designed to help hotels and resorts optimize their revenue generation and boost their bottom line.2 Extrapolation based on STR estimate of 187,000 hotels worldwideOTA marketing investment has doubled the cost of paid ads for hoteliers Hotel Industry Trends Report 202411All channelsCost per click has balloonedGoogle Ads Metasearch100b.58.6%In the travel arena,a metasearch engine pulls in data from lots of other websites to produce its own results for consumer queries.It organizes all the information they need whether its flights,accommodation,car rentals or vacation packages on a single results page.Kayak and Trivago are both examples of metasearch engines.A return to normal travel gives OTAs the upperhand Another factor supporting growth for the OTAs is the recovery in overseas travel,which is traditionally where the OTAs are stronger.According to B,room nights taken by international travelers exceeded 50%in Q3 2023,up from around 45%a year earlier in line with pre-pandemic norms.The OTAs charge commission of between 18%and 23%but much of this is reinvested to try to ensure that their share of reservations only goes in one direction.Over time,this reinvestment becomes increasingly efficient,as hoteliers end up effectively paying the OTAs to generate their next guest,not the one who has just booked.This is why the central theme of OTA business strategies will always be digital marketing and,in 2023,they appear to have upped the ante.The OTAs commitment to dominating search engine results has driven huge increases in the cost of pay-per-click,and theyre doing it across multiple categories.The cost of Google Ads has risen 62.5%from$0.16 to$0.26,while the cost of metasearch has grown 128.6%from$0.21 to$0.48.Hotel Industry Trends Report 202413What devices are people using to book?Desktop 50.1 50.9Mobile 47.8 46.1 Tablet 2.1 3.0 Bookings 2023%Bookings 2022%OTA marketing investment has doubledin 2023Fall in organic research revenues15.3%The proportion of bookings made on mobiles has been steadily growing,and reached 47.8%in 2023.This is likely influencing buying trends,because consumers are more likely to favor speed on mobile devices,making sponsored results much more attractive.Desktops share was 50.1%,which means the days of the computers dominance are numbered.The devices guests are using to book will also be playing a role in the growing power of paid search.Those hotels who do nothing will eventually find theyve become so dependent on OTAs for the vast majority of their bookings that the investment required to wean themselves off will be completely beyond all but the largest hotel groups.The more leads that come through OTAs,the more expensive it all becomes.Prevention is better than cure and that requires effective strategies around loyalty schemes,personalization,and guest retention.This is why its so important for hotels to defend direct channels and their own off-OTA lead generation.Frank Reeves Chief Evangelist,SHR Group 14By attempting to win clicks and claim leads from direct bookings,the OTAs have invested so heavily in paid ads that it has effectively cut the return on investment for hoteliers own marketing spend in half.Across all channels,cost-per-click has doubled from$0.17 to$0.34.This marketing reinvestment also raises the level of competition for brand searches(when a guest who knows what hotel they want to stay at punches the name into a search engine).These searches show high intent because they are typically returning guests,guests for whom a particular hotel is the only one they want to stay at due to an event like a conference or a wedding or those who are acting on a recommendation.Hotels dont own the top search result for their own brand thanks to sponsored PPC ads.Hotel Industry Trends Report 202415Online travel agents(OTAs)are shaking things upAll of the above has rather predictable consequences for organic search,where associated revenues have fallenAs OTAs continue to capture a larger share of the market,hotels must adapt their marketing strategies to reduce their investment and the overall cost of guest acquisition.The share of paid search and organic search are currently neck-and-neck,representing 31.5%and 32.8%of revenues respectively but we expect this to continue to shift in favor of paid search in the coming years.almost exactly matching the increase won by paid search 15.5%.Hoteliers are being forced to invest heavily in PPC to compete with OTAs and stop them harvesting all of the high-intent traffic,which was historically the domain of organic search.Which means these search terms are a high priority for the OTAs,as they allow them to divert customers searching for specific hotels to their own booking engines.Metasearch is also high intent traffic because its users are more often just testing where they can find the best price.Here too,the industry has seen enormous cost increases.15.3%YoYOwning the guests,not just their reservations Hotel Industry Trends Report 2024Owning the guests,not just their reservations 17Guldsmeden HotelsCase studyAt the moment,it seems like we and other hotel groups are grappling with the OTAs to win loyal customers and repeat guests.Perks include same-day cancellation,free early check-in and late check-out,free access to the spa and a guaranteed room 48 hours before arrival.Thats why,as the OTAs ramp up their loyalty programs,a huge focus for us has been to offer our guests rewards that the OTAs cant compete with.Our Friends and Family loyalty program,which we first implemented around eight years ago,has five different levels,with each level offering different perks and allowing guests to earn points.Our aim is to give guests something really worth signing up to our program for so far its been very successful,welcoming up to 500 members a week.But were always looking to develop that and expand our offering,making sure that were in the best position to own the profiles of repeat guests and compete with the OTAs.Gabriella Othilia Kingelin Larsen B2B Sales Manager at Guldsmeden HotelsAs the OTAs become more aggressive,theyre investing more in loyalty programs in an attempt to own each guest,and not just each reservation.These programs create loyalty among consumers by rewarding them for returning to the OTA each time they want to book.This is exactly the same strategy many hotels are using to create repeat business.At stake is ultimate ownership of the guest record.However,this loyalty contest is not just a race between hotels and OTAs but a competition between the OTAs themselves that further intensifies the battle of marketing spend.The current intensification of investment in acquiring users likely reflects the urgency the OTAs perceive in signing up as many travelers to their programs as they can its a land grab.The earlier they can bring guests into their loyalty programs,the cheaper thats likely to be over the long run,and the more value theyre likely to be able to extract from these guests in the future.Hoteliers have even more to gain from well-deployed loyalty schemes as they are a powerful way to shore up direct bookings.Of all cancellations made,63%were received more than 35 nights in advance vs 60%in 20221885n predict which booking will cancel with an accuracy rateofCancellation rates back to normal With the cost of acquiring guests on the increase,minimizing cancellations can mitigate the impact.Fortunately,one big trend seen in 2023 was a return to pre-covid levels of cancellations.Last year,23.1%of bookings were canceled,in line with 2019.Cancellation rates had risen as high as 34.2%during the pandemic,on what were very thin booking volumes,so this was a welcome development.The share of direct booking revenue lost due to cancellations has also declined,falling from 19.2%in 2022 to 15.4%in 2023.OTAs have a vested interest in bringing the number of cancellations down too as they only get paid when the guest stays,not if they cancel.They can be expected to invest heavily in this area as a result and will be looking to take advantage of new search marketing tools such as Googles Performance Max for travel goals which targets searches with greater intent.This gives OTAs an easy way of reducing cancellations without innovating they can just spend more,effectively outsourcing the problem.Families are still most likely to cancel on you3Cancellation rates201920202021202220232023 22%Business16.320.6Couple24.129.6Family28.833.8Multiroom24.827.52023 22%Change%ptsBusiness20173Couple65641Family810-2Multiroom79-2Whos booking?Hotel Industry Trends Report 20242123.1#.14.2&.7%.2ncellation rates back to normal 3 Weighted to average cancellation rates for CRS Hastings HotelsCase studyWe used to spend a lot of time speculating on what might work,but Alloras booking and recommender engine shows us the reality of potential guests booking preferences and behaviours,which allows us to create tailored strategies.Matt McRoberts Head of Marketing at Hastings Hotels Through A/B testing,weve explored lots of different scenarios,like what happens if we display rates on a property or not and,from there,made decisions about what we present to guests during the booking process.Instead of throwing meaningless offers at guests who havent yet booked,were able to highlight actual points of interest in the hotel whether thats a spa package for a couple or bed and breakfast option for a corporate traveller.Instead of pushing guests to book,we have the insights to show them products and services that are actually relevant meaning its no longer just about accommodation booking,we have an entire upselling strategy throughout the booking journey too.These insights have also allowed us to ramp up our marketing strategy.With visibility into guest lead times,we can work out which guest segment would benefit from discounts or offers.For example,if couples lead times are longer than solo travellers,we know that we might need to start pushing our offers for the next season earlier,and offer discounts to those searching for stays for two adults.Being able to personalize the guest booking journey means that we treat no two guests the same and every experience is meaningful and relevant.As a result,the past couple of years have broken records for us in terms of revenue generated,bookings and room nights.Having insights into guest profiles for example,solo travellers,couples and families,feeder markets,conversion rates and booking value has allowed us to abandon the one-size-fits-all booking approach.Hotel Industry Trends Report 202423Cancellation rates back to normal Whats in store for 2024?Hotel Industry Trends Report 202425Whats in store for 2024?A greater focus on cancellations Revenue managementWith the paid ad space subject to intense competition for clicks,reducing cancellation rates is one area where hotels can make a lot of headway.Dynamic pricing has been around for a while but AI is earning the trust of managers and freeing them up to concentrate on adding value in other ways.Fewer than 1%of our allora RMS pricing decisions are being overridden by humans.Not all hoteliers have yet adopted this kind of solution but those who do see 32.9%revenue growth within one year.Cancellations still represent nearly a quarter of reservations,and strategies that can reduce them can be used to simultaneously create a guest record,unlocking the opportunity to own guests future stays.The two ways that hoteliers are going to accomplish this are loyalty and personalization.They will stop thinking about acquiring bookings and start thinking only in terms of acquiring guests who they can serve well for decades rather than days.Only then will they be able to fully exploit the brand value and affection theyve been able to generate by delivering fantastic stays to those with every reason to return in the future.Frank Reeves,Chief Evangelist,SHR Group 1 Based on analysis of SHR Group channels,which exclude group,wholesale and other contract bookings made through PMS platforms.SHRs sample represents over 50 million room nights across more than 2,000 international hotels that are currently using one or multiple Allora products and services.2 Extrapolation based on STR estimate of 187,000 hotels worldwide.3 Weighted to average cancellation rates for CRS PersonalizationIf 2023 was the year that,thanks to ChatGPT,AI stopped being a buzzword and became something consumers could actually touch and use for the first time,then 2024 is set to be the year that AI leaps off the page and forever changes the way consumers shop.Travel and hospitality are two areas where this is already happening,with Google perfecting its own generative AI search experience,which is expected to be released this year.This is an incredibly exciting development,because it means that a concierge-style experience will be brought to search for the first time.Travelers wont need to scroll through dozens of listings anymore.It will feel far more intuitive,like someone who really knows you is presenting options that immediately speak to you.Faced with rampant personalization of search across ever more distribution channels and social channels,everyone hoteliers included will have to adjust their digital marketing strategies to fit new campaign types such as Demand Gen from Google,and make sure theyre still competing with the OTAs by spending in the right ways.If not,return on advertising spend(ROAS)will suffer,further surrendering booking and revenue share.However,personalization presents opportunities for hoteliers too,as they can use it to transform the guest experience on their own direct booking sites.When potential guests visit a hotels website,they leave a trail of valuable data that hoteliers often ignore.We refer to this as the lost 20 minutes of data that hotels should be using to increase the relevance of what visitors see.By creating custom guest journeys that turn generic content into experiences tailored to individuals,conversion rates dramatically improve.How do we know this?We can see that those hotels leaning into AI-powered personalization and recommender engines with Allora.ai are often winning,rather than losing,market share.Personalization will be the most powerful initiative deployed by hotels seeking greater revenue share in 2024.It will level the playing field just in time.The danger for hotels,however,is that this is another tool that could make it easier for OTAs to own the guest record and the guest journey.Hotel Industry Trends Report 202427Whats in store for 2024?If youd like to know more,book a demo or speak to a member of the team,and sign up to our newsletterAboutFounded in 2004,and headquartered in Houston,Texas,with offices in Europe and Asia-Pacific,SHR Group is a leading global specialist technology and service provider to the hotel sector.We help hoteliers maximize revenue by optimizing all aspects of the booking and retention eco-system through a full suite of tools,including the groundbreaking allora.ai platform.Over 2,000 hotels globally use SHR Groups product suite to optimize their channel mix and personalize guest experiences.ContributorsSarah Jones,VP,Distribution Solutions&Product Delivery at SHR GroupEdward Rodgers,Allora Product Manager at SHR GroupSteve Collins,VP Digital Marketing at SHR GroupJessica O Dwyer,Marketing Project Manager at SHR GroupRod Jimenez,CEO at SHR GroupFrank Reeves,Chief Evangelist at SHR GroupAmy Deverson,PR Account Manager at Abode WorldwideNeil Millard,Managing Director at Abode Worldwide Gabriella Othilia Kingelin Larsen,B2B Sales Manager at Guldsmeden Hotels Matt McRoberts,Head of Marketing at Hastings HotelsCopyright 2024 SHR Group Barcelona 8-10 Josep Tarradellas 4th floor,office 6 08029 Barcelona,Spain 34 935222884Limerick Avvio House,Lonsdale Road National Technology Park Castletroy Co.Limerick V94 AW2X 353(0)61 335 680Houston Headquarters:1334 Brittmoore Suite 2410 Houston,TX 77043Toll Free: 1 800 252 0522 Local: 713 333 9944
2024-12-24
28页
5星级
Reimagining Real Estate:A Framework for the Future I N S I G H T R E P O R TD E C E M B E R 2 0 2 4I.
2024-12-24
48页
5星级
Building Transition:Financing Market TransformationJOINT CALL TO ACTION2BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONLetter from the CEOsSince announcing the international alliance of our five green building organizations,we have focused on how the built environment can unlock the sustainable finance needed for the sector to meet our global climate goals.We believe that investors,property owners,developers and governments must have the information they need to enact transformational change in the built environment.The first phase of our work began this summer during London Climate Week with the launch of our first guide that outlined how the worlds foremost sustainability rating systems are aligned and how we can ensure that all buildings transition to a decarbonized future.The report outlined how integrating major building certification systems like BREEAM,HQE,LEED,Green Mark and Green Star can provide a framework for unlocking capital for green projects.The next phase in our alliance builds on our last report and dives into how we can expand green building activity within non-engaged communities.It is well documented that third-party green building certifications provide a framework for achieving ESG and climate goals.The global alliance recognizes that not every building will achieve green building certification.However,every building can implement green building practices to benefit people and the planet and to become more resilient.This requires investments and coordination between relevant stakeholders financial institutions,lawmakers and building owners.The alliance plays a crucial role in facilitating this coordination.It has laid out the conditions needed for the sustainable transition of low-performing building stock.This can be a challenging aspect of our mission,but one that is critical if we want to truly achieve market transformation.In this new paper,we outline a pathway for sustainable finance that is more easily accessible to wider projects,not just those already engaged in green building activities but to the broader building stock or“the other 75%”of buildings.Engaging the wider building stock also provides an opportunity to build more resilience in the face of increasingly damaging weather events and support vulnerable communities.Green building technologies and strategies should be accessible to everyone and essential for creating a more resilient and equitable future.This paper is a joint call to action that puts most building stock on a path toward better performance and resilience.ABOUT OUR ORGANIZATIONS The organizations represented in this document are the administrators of building certification systems used worldwide by the real estate industry to demonstrate best practices for world-leading outcomes in the built environment.Over the years,their standards have introduced concepts and benchmarks into the mainstream and created market demand to ensure that these are delivered.You can learn more about these organizations at the following links:A-HQE GBC BRE GBCASGBCUSGBC HOW TO READ THIS PAPERThis paper is organized to help you navigate how to scale and finance wide-scale transition for the built environment.It focuses on key areas like evolving taxonomies,defining decarbonization pathways,and addressing adaptation and resilience.In each section youll find recommendations and a joint call to action on directing capital toward the broader building stock,alongside practical examples and strategies for driving progress in real estate sustainability.While this paper is written based on our experience in the markets we broadly operate in,we believe many of our recommendations and the call to action are universal.3BUILDING TRANSITION:FINANCING MARKET TRANSFORMATION1.Overview and Introduction Describes the purpose of the paper and gives an overview of the three areas of focus.42.Investing in the Mass Market Explains how green building rating tools transform the market by raising performance standards over time.5i.The Need for Better Taxonomies Highlights the role of sustainable finance taxonomies in directing capital to green building projects and the need to improve them.7ii.Defining a Credible Decarbonization Transition Outlines the risks and opportunities for investors and owners as regulations tighten and climate risks grow.10iii.Adapting to a Changing Climate Explores how investors and owners can implement strategies to mitigate the growing risks of acute and chronic climate events.133.Invitation Invites the investment community to collaborate in driving the transition to a sustainable,resilient,and inclusive built environment.16Table of Contents4BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONOverview and IntroductionThis paper,a joint call to action aptly titled Building Transition:Financing Market Transformation,explores how we can create the conditions to rapidly scale action across the entire sector.It aims to accelerate transformation in developed markets,with the goal that the lessons learned can then be used to help inform strategies and practices elsewhere in the world.The mass market is a broad term meaning that we are looking beyond the top performers,the green assets,to the wider building stock.In the developed world,most of the buildings we will use in 2050 are already standing.This means hundreds of millions,if not billions,of existing buildings globally must rapidly improve their performance.Building on our first guide,Financing Transformation:A Guide to Green Building for Green Bonds and Green Loans,we look at how we can help capital be directed to the mass market to help them transition.While much of what is written in this follow-up paper has been documented in various publications,we see the value in bringing this together in one place for easy reference,in an accessible format for key stakeholders to use as a tool for engagement.The paper focuses on the three most critical areas for the mass market,and these are:The need for better taxonomies:Sustainable finance has a skew to green or high-performance projects.Here,we look at how taxonomies can evolve to drive inclusive action,directing capital to ensure opportunities for an inclusive transition rather than creating a secondary market for an increasingly sizable portfolio of stranded assets.Our view is through taxonomies that recognize the importance of robust transition actions,which would help simplify and streamline the structuring of impactful instruments focusing on improvements over time,enabling a shifting brown asset to become increasingly green.At the same time,we also draw lessons for how the actors in the built environment can better communicate and report their performance,as well as lessons for rating tools.Defining a credible decarbonization transition:In plain language,we put forward the necessary building blocks of building decarbonization that stakeholders can use to chart action-based pathways to reach decarbonization targets over appropriate timelines,enabling financers to have meaningful discussions with their clients,allowing for the direction of capital to the initiatives that will have the most lasting impact in the need to decarbonize our global building stock.Adapting to a changing climate:Amid the other dynamic factors at play in this transition is the compounding risk of the changing climate.This increasingly material risk factor will increasingly leave the mass market at higher risk of being negatively impacted by climate change and becoming stranded assets without addressing resiliency.We are aware we have omitted other material topics in this follow-up paper,including key areas such as circularity,health and well-being,as well as nature and biodiversity.These omissions,while glaring,are intentional,allowing us to first focus our discourse on setting the conditions for an inclusive and rapid transition.5BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONInvesting in the Mass MarketRATING TOOLS AND MARKET TRANSFORMATIONGreen building rating tools are,in essence,a market transformation framework based on a theory of change(defining the desired outcome and creating the conditions for this to materialize).Over the last three decades,various green building rating tools have emerged,providing contextualized,consensus-based definitions and criteria defining“good,better,and best”practice and performance with mechanisms to provide transparency and accountability.These are backed by processes that provide review and/or assurance of execution and recognize success(i.e.,through certification).Green building rating systems are global in scope and impact.Millions of square meters have been designed,built,and operated to leadership standards.Furthermore,while rating tools typically focus on the higher performers,they drive change at scale by creating a self-reinforcing cycle that incrementally raises the bar on prevailing market practice and positively influences building regulations and policies.They also ripen markets for deeper market penetration through building skills and knowledge,raising awareness of what is possible,and creating demand for technologies to help them reach economies of scale.This lays the groundwork for introducing and enhancing building codes and other policy instruments that have helped move entire markets to better performance.This is illustrated by data from the US Environmental Protection Agency ENERGY STAR program.Figure 1.Distribution of source energy use intensity in US ofce buildings.Source:Two Decades of ENERGY STAR:A Retrospective Study of EPAs ENERGY STAR Ofce Buildings Score and Certification.(2022)US Environmental Protection AgencyHowever,the reality remains that,in most developed markets,the lens in which we write this paper,the market transformation from rating tools is heavily skewed to the more sophisticated real estate players and assets.A substantial portion of the built environment is not responsive to or does not have the capacity,capability or capital to participate in this race to the top.6BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONWHY IT MATTERSImpact is not evenly distributed across regions,countries,and market segments.For example,premium ofce properties have broadly adopted green building practices,while the volume of Grade C properties is far less engaged.Consequently,financial instruments based on prevailing green building frameworks are likely to direct capital and thus impact,to a certain subset of the built environment,leaving others behind.The net result is a relative abundance of high-performance green ofces in central business districts and a relative under-supply of high-performance elsewhere.The same is true for housing,with well-designed,high-performance bespoke housing in key locations.Most mass-market residential developments serving lower and middle-income populations are underserved and forced to make do with properties that are expensive to heat and cool and are at a higher risk of stranding as our climate changes.Within market segments,evidence suggests as the market and financers favor high-performance properties,the gap widens,and the laggards are left further behind.This leads to the emergence of two marketsa high-performance market engaged in green building activities and a large,disengaged market of relatively low performers.Investing in the mass market requires designing simpler,cheaper,and tailored oferings for diferent business circumstances.Impact will often be measured through change over time(e.g.,before and after)rather than immediately switching to being green.This will require stakeholders to back away from popular concepts such as defining success as a relative“Top 15%”of the market or requiring expensive services like third-party assurance and second-party opinions.These are important concepts for financing the top of the market,but they are likely incompatible with circumstances of the long tail of poorer performers.In other words,current green financing instruments requiring these mechanisms do not adequately serve the wider transition of the built environment.CLIMATE RISK AS A DRIVERTraditionally,the focus on high performance by leading real estate companies,investors and financial institutions has been oriented toward delivering higher financial returns and driving asset value by distinguishing their assets in a competitive landscape.This has been remarkably successful,infusing billions of dollars of capital investment and significantly improving building performance.However,climate and transition risk are not about exclusivity or market leadership per se.It is about transforming the whole building stock to increase resilience and create positive impact on people and the environment.A narrow focus on investment in high-performance buildings has unnecessarily limited opportunities for impact and contributed to significant business risk(e.g.,regulatory pressure).OPPORTUNITIES A just,equitable transition to a low-carbon built environment will require billions of dollars of investment.Critically,this must be deployed by broader-reaching,more inclusive strategies than those focused narrowly on high performers.Transitioning the lower-performing assetsthe wider marketto higher performing is the biggest market opportunity that climate change presents to real estate.Targeted investment in currently low-performing assets ofers the best opportunities to reduce greenhouse gas emissions while benefiting vulnerable populations.Opportunities through these so-called brown-to-green strategies are more profound than prevailing green-to-green strategies,nudging already very good performance toward excellence.We need to relook at the levers that can unlock capital to facilitate the broader transition to the harder-to-reach market segments,which can be less experienced and resource-constrained,the same reasons why they have been left behind.These are often not risk-taking or experimental segments.They are not interested in being at the“top of the market”or particularly interested in conceptual ideas like“1.5-degree alignment”.They want to improve tangible,real-world performance and outcomes.They need to overcome capital and technical limitations.For example,public sector investments in credit enhancement or derisking,are linked to integrated oferings of finance and technical assistance.This contrasts with the already green segment often dominated by relatively expensive technical consultants and relatively easy access to low-cost capital.RECOMMENDATIONSThe bottom-line recommendations for market participants are clear:We need a new generation of investment strategy targeting the wider market not yet engaged with the mainstream green building movement,barring a few nascent and pilot eforts.Transforming this vital market requires an intentional,inclusive efort to create new value propositions using faster,more scalable deployment strategies.These solutions will be diferent from our prevailing practices,and they will engage new communities and underrepresented property types.This will provide bold investors with new opportunities for financial returns tied to unprecedented positive impact on people and the environment.7BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONThe Need for Better TaxonomiesSustainable Finance Taxonomies define eligible green(and,in some cases,transition)activities for financial instruments to be directed towards.Taxonomies must embrace their role in facilitating the direction of capital to transform the built environment at scale in a manner that collaborates with the wider built environment ecosystem and the existing context of buildings and building rating systems.1 https:/www.iea.org/energy-system/buildings2 Total global value of real estate estimated at$379.7 trillion almost four times the value of global GDP,https:/ global-value-of-real-estate-estimated-at-$379.7-trillion-almost-four-times-the-value-of-global-gdp3 CBRE Investment Management,the Case for listed real estate,https:/ ANREV Fund Manager Survey,https:/www.anrev.org/en/research/fund-manager-survey/WHY GETTING IT RIGHT MATTERSThe scale and rate of change required for the built environment to successfully transition should not be underestimated.We will not reach that objective by directing capital to purely green assets.The International Energy Agency emphasizes the urgent need for the built environment to reduce energy consumption and eliminate fossil fuels from hundreds of millions of buildings.To get on track with the net zero energy scenario,emissions must fall by 9%per year on average until 2030,more than halving by the end of the decade 1.This is where sustainable finance taxonomies fall short.While taxonomies claim to be science-based and include criteria targeting energy efciency,many rarely address this holistically;for instance,to include electrification.Moreover,they tend to recognize assets as green only if they achieve exceptionally high performance,without considering the entire system,including the grids in which the buildings are connected.If we are to successfully transition the built environment,we need to drive an inclusive transition of the wider mass market that is currently underserved and work on how to direct capital that addresses the sectors transition as a whole,not just the green.CHALLENGES AND CHARACTERISTICS OF THE BUILT ENVIRONMENTBuildings are bespoke and disaggregated.Each buildings performance is directly influenced by its specific characteristics,including its occupants and intensity of use.This is unlike other sectors,where there is greater homogeneity,and representative units can represent large populations of products or systems.Ownership is highly disaggregated.In contrast to other sectors,even the largest asset owner worldwide would not hold even half a percent of the market(with a total size of almost$380 trillion2,an investable size of$36 trillion 3,and the largest owner holding at most 0.2%4 of the sector).This is compounded by the long lifespan of buildings,which often have multiple owners over their lifetimes.The good news is that these contextual challenges of the sector,coupled with the international nature of capital flows,juxtaposed with the national(or regional)scope of sustainable taxonomies and the highly local nature of buildings,are solvable.While we focus on taxonomies,the built environment sector must also enhance how it measures,discloses,and tracks impacts and improvements over time.Parkroyal Collection Pickering,Singapore,BCA Green Mark Platinum8BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONSPECIFIC OPPORTUNITIES FOR BETTER TAXONOMIES AREACHALLENGERECOMMENDATIONSDiverging criteria,definitions,and methodologiesDiferent taxonomies,such as the EU Taxonomy,ASEAN Taxonomy,or national frameworks(at least 15 worldwide 5),have varying criteria for what qualifies as sustainable.These criteria are often based solely on local legislation and context,ignoring that capital may flow across jurisdictions(e.g.,EUs nearly net zero legislation).This inconsistency creates confusion among investors,developers,and other stakeholders,making applying sustainable finance raised in one region to projects in another difcult.Additionally,diverse methodologies and definitions lead to misalignment with green building practices.Taxonomies should align relevant criteria and specify which standards apply domestically and which can identify assets internationally.Balancing local needs,contexts,and high performance is key,as is using adapted international standards as a baseline.Leveraging established robust rating systems can help create proxies to identify compliant assets.Ultimately,an alignment of metrics,measurements and methodologies(allowing for interoperability)is needed,but there also needs to be recognition of the diversity of assets and geography.Overall improvement across the sector should be the focusSome taxonomies lack clear guidance on transitional activities or steps for buildings that are not yet sustainable but aim to improve.This limits opportunities for the bulk of the stock that needs to transition to have targeted capital directed to them.Some taxonomies skew their focus towards new,high-performance buildings,neglecting the potential for retrofitting and refurbishing existing stockwhich can often be a more sustainable option due to reduced material usage and embodied carbon.The goal of taxonomies should be to facilitate an inclusive transition rather than focusing solely on top-tier assets.This approach risks creating a stranding efect,where buildings that dont meet the highest standards become undervalued and neglected.Taxonomies should incentivize improvement(transition)across the built environment by developing criteria that recognize incremental progress.Instead of only supporting assets that achieve a 30%energy improvement,taxonomies should also enable access to finance for those achieving smaller gains over time,like 15-20%improvements or undertaking electrification eforts that facilitate using renewable energy sources.This approach avoids creating a stranding efect and emphasizes the need for aggregate improvements over time,aligning with broader sustainability commitments such as national targets under the Paris Agreement.Using certification or labelling can help.For example,the transition of an asset from a NABERS 2 star to a NABERS 4 Star rated asset shows a positive transition.While it may not be enough to meet the green criteria,it demonstrates transition.Taxonomies do have criteria dedicated to the flows of capital for singular energy efcient equipment.Whilst this does address some of actions that yield transition,it does not address the wider incremental progress that the sector needs.Be clear on outcomes and objectivesSome taxonomies have criteria that are vague in their objectives and overly prescriptive in their methods without being performance-based.This lack of clarity makes it difcult for stakeholderssuch as investors,developers,and policymakersto understand the intended outcomes and implement the criteria efectively.It complicates the interpretation of each element and hinders appropriate responses,potentially leading to inefciencies and stifled innovation.Clearly define the criterias goals.For example,outline specific areas such as energy efciency,upfront carbon,or refrigeration for the Climate Mitigation criteria rather than using broad terms like“whole-life carbon”or“nearly net zero(energy)”This specificity will help stakeholders better understand and meet the objectives.There are diferent levels of green(and amber)Taxonomies often assume a single definition of green,requiring full compliance with all criteria and additional safeguards.This rigid approach can inadvertently hinder sustainability eforts by discouraging investments in projects that make significant but partial contributions to environmental goals.Sustainable activities like electrification and energy efciency improvements may not happen simultaneously,and not all actions directly impact do-no-significant-harm requirements.Moreover,expanding criteria across borders adds complexity and necessitates nuanced interpretation due to varying local contexts and regulations.Rating tools recognize this(hence have diferent rating tiers that tackle holistic sustainability in a manner that is understood and implementable by the industry).Likewise,pragmatic and scalable taxonomies can implement a tiered system or spectrum of“green”and transition(“amber”)levels,encouraging the direction of capital to a broader range of projects,facilitating cross-border investments,and ultimately accelerating progress.Such criteria can be specific and timebound to ensure robustness,and can still preserve“do-no-significant-harm”requirements.Lack of alignment with well-known building practicesThe complexity of complying with multiple taxonomies or strict criteria leads to high verification,reporting,and compliance costs.This creates confusion and forces projects seeking certification and sustainable finance to duplicate eforts.Some taxonomies disregard existing disclosure methods(like NABERS and Energy Star)and established building certifications(such as BREEAM,LEED,Green Star,Green Mark,HQE),which burdens smaller market players and may discourage them from engaging in sustainable development.Collaborate with industry experts and leverage existing tools to simplify compliance and reduce costs.Utilize well-understood proxies and robust mechanisms already in place,such as recognized building certifications and disclosure methods.Develop clear guidance with input from relevant organizations and maintain an up-to-date list of suitable proxies for compliance monitoring.Engage organizations like the GRESB Foundation to create working groups that ensure efective criteria implementation and foster alignment across diferent taxonomies.5 Financing Transformation,Alliance HQE,BRE,GBCA,SGBC,USGBC,https:/gbca- TRANSITION:FINANCING MARKET TRANSFORMATIONThe sustainable finance sector is hindered by divergent taxonomies,sometimes vague criteria,and misalignment with established building practices such as green building certification(rating tools),causing confusion and increased costs for stakeholders,directing time and capital away from action.This fragmentation restricts investment in new and existing buildings,often leading to undervaluation of assets that could achieve meaningful sustainability improvements.To address these challenges,taxonomies should embrace context-specific,performance-oriented criteria while harmonizing approaches with a focus not just on“green”but on how to scale the transition of the sector as a whole.Engaging with industry experts and collaborating with organizations such as the national GBCs,the WorldGBC regional networks,and GRESB Foundation is crucial for developing comprehensive guidelines and implementing efective strategies that properly address the complex and multifaceted nature of the built environment.By fostering a cohesive,transparent,and adaptable approach,sustainable finance taxonomies can efectively mobilize capital towards truly sustainable projects,driving continuous improvement and advancing global environmental goals.RECOMMENDATIONS FOR THE BUILT ENVIRONMENT SECTORThe built environment sector and rating tools have scope for improvements.These include:Relevant metrics:Focus on key performance indicators(KPIs)that matter most to stakeholders(including investors),such as clear energy metrics like energy intensity(defining if it is whole building,primary energy demand,or equivalent),carbon intensity(upfront,operational,and the scope(s),water usage,and waste reduction measures.Intensity metrics must be clear on the denominator,usually based on gross floor area or net lettable area.Where other metrics make sense,for example,occupancy,these should be provided in addition to supporting the organizations decarbonization narrative.Use Standardized Reporting Frameworks:Adopt established disclosure methods like NABERS,Energy Star,or GRESB to ensure consistency and comparability of data across projects and portfolios.Unfortunately,today,even with frameworks that outline reporting standards,these are not industry-specific and prevent clear and consistent measurements,benchmarking and reporting.Ensure transparency and accuracy:Provide clear,accurate,and timely information about sustainability practices and performance.Avoid technical jargon where possible to make the information accessible to non-experts.Highlight alignment with taxonomies:Clearly demonstrate how your projects meet the criteria set out in relevant sustainable finance taxonomies.This includes detailing compliance with“do-no-significant-harm”principles and minimum social safeguards.Regularly update disclosures:Keep all disclosed information up to date to reflect ongoing improvements and to maintain credibility with investors and other stakeholders.Verify performance over the lifecycle:design,construction,operation,and refurbishment to ensure that sustainability targets are being met and the building is still meeting its sustainability targets.Third-party certifications:Obtain certifications from recognized bodies like LEED,BREEAM,Green Star,Green Mark or HQE to validate sustainability claims and provide assurance to investors over the lifecycle.Ensure certificates are valid(meaning they are relevant and reflect the asset in its current state.A rating focused on design and construction should not be used to describe a building in operation).Implement continuous monitoring:Use building management systems and other technologies to track performance metrics in real-time,allowing for proactive adjustments and maintenance.RECOMMENDATIONS FOR RATING SYSTEMS IN THE BUILT ENVIRONMENTAlign with financial metrics:Structure rating outputs to meet the information requirements of financial institutions.This approach simplifies the assessment of sustainability credentials and reduces barriers to accessing sustainable finance.Similar to the methodology in Financing Transformation,rating tools can map their alignment by overlaying which credits must be achieved to demonstrate compliance with green or transition screening criteria in existing taxonomies.This alignment provides the market with the consistency and transparency needed to scale the adoption of rating tools while identifying gaps in the tool or taxonomy.Distinct certification levels and visibility of performance characteristics:Implement clear and tiered certification levels or scores easily understood by the finance sector.Rating tools often provide limited visibility into the actual energy performance and or efciency improvements for each level of rating,thereby creating uncertainty about the extent of their contribution to high performance.Recognizable and clearly diferentiated performance ratings,with transparent performance thresholds,facilitate quicker decision-making by investors.10BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONDefining a Credible Decarbonization TransitionWHY IT MATTERS For investors and owners,the decarbonization and transition of the built environment represent both a significant risk and a substantial opportunity.As global regulations tighten and climate-related risks become more pronounced,buildings that are not aligned with sustainability standards and decarbonization frameworks will face higher operational costs,increased regulatory compliance costs,and reduced asset values.Financial Institutions around the world are simultaneously running climate stress tests and setting their own net zero targets for financed emissions.As such,assets that fail to meet increasingly stringent environmental standards may face rapid obsolescence and be deemed stranded and devalued in the market.SPECIFIC OPPORTUNITIES FOR DECARBONIZATIONInvestments in buildings on a clear decarbonization pathway are increasingly seen as attractive.It is important to recognize that decarbonization is not a binary switch that is flipped overnight.Instead,it is a multi-year,sometimes multi-decade journey that requires thoughtful technical and financial planning around building lifecycle milestones.In addition,there is a high degree of grid dependency on how an asset or entity can align with various decarbonization pathways.We know the building blocks of thoughtful decarbonization at scale,and we need systems to guide,reward,and direct capital toward these actions at all levels.We advocate for a common but diferentiated approach to transition that meets buildings where they are and provides a pathway for meaningful improvement in a contextual manner.The following common set of strategies are the fundamental elements of decarbonizing buildings.Taken together,they provide a holistic view of how an asset or entity is poised to address decarbonization,not just today but over the coming decades.1.Start with energy efciency,which remains the foundation of reducing building carbon emissions and operational costs.This includes both passive design elements(e.g.,insulation,daylighting)and mechanical(e.g.,variable speed motors,high-efciency lighting).No matter how green the grid gets,we wont be able to build enough energy supply to keep pace with unabated energy demand.2.Shift to electrification through phasing out fossil fuel-based technologies in favor of electric-based equipment,including heating,hot water,and cooking applications.That means designing new buildings without combustion-based equipment and implementing plans to retrofit existing combustion equipment.3.Switch to renewable energy by considering on-site where possible and then through of-site mechanisms that have clear additionality.4.Enable grid interactivity through energy storage,demand response,and/or building controls that can shift building loads to periods of lower carbon grid power.5.Address refrigeration equipment to remove refrigerants with high climate impact and ensure equipment allows for leak detection and safe disposal of refrigerants at end of life.6.Reduce upfront carbon emissions by selecting responsible and low-carbon materials(new buildings and refurbishments.)7.Create and follow decarbonization plans that articulate a schedule of retrofits,equipment replacement plans,and electrification readiness strategies needed to achieve decarbonization,along with budgets and timelines.Green building certification schemes can provide science-backed best practices,widespread guidance to build carbon literacy,and incentives to accelerate and verify the implementation of these fundamental decarbonization elements.And they do this while addressing the holistic attributes that balance environmental and social goals.Where green building certifications are not feasible,energy ratings such as NABERS or Energy Star will help articulate the performance of the asset and demonstrate its transition over time.11BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONMACRO MARKET DRIVERS Market demand:The market for decarbonizing the built environment is experiencing strong growth,in large part due to a clear set of macro-scale market drivers that are creating pressure for transition.A growing demand from investors,financial institutions and tenants for green buildings is driven by increasing awareness of climate risks and a desire for healthier living environments.While this is skewed to the top performers and Class A commercial assets,there is greater attention being drawn to other sectors,including hospitality,light industrial and,in some markets,multi-family residential.For instance,research shows that the soaring demand for low-carbon ofce space will outstrip demand in some markets by 75%or more6.Reporting and disclosures:Listed and large non-listed companies,which include developers and asset owners,increasingly need to respond to a complex range of voluntary and regulatory reporting requirements.These require measuring,verifying,and disclosing a range of climate-related risks and actions.In reality,there is a lack of standardization in reporting and misalignment of reporting standards with what is most materially important to truly understand building performance and its ability to adapt to climate risks over time.There is a need for a common approach to building decarbonization assessment comprised of the fundamental elements highlighted earlier that also recognize the diferentiated nuances of sector,geographical,and asset class in how they approach those elements.Even with mandatory sustainability reporting in several jurisdictions being in place today,the range of information captured,how it is presented,and the consistency of information within the built environment varies so greatly that very few comparisons or conclusions can be drawn.Regulatory pressures:Governments worldwide are enacting stricter regulations to combat climate change that directly impacts the built environment.These include Singapores Mandatory Energy Improvement Regulations7,targeting the poor-performing commercial buildings,with requirements for energy audits,and mandatory timebound energy improvement measures to be enacted to reduce the EUI by a minimum of 10%.The UK Minimum Energy Efciency Standards have a mooted 2030 target for requiring a minimum of an EPC of B in order to rent a commercial property.New Yorks Local Law 97 will cap annual CO2 emissions from large buildings starting in 2024,with the cap decreasing over time to reach an average of less than 1.4 kg of CO2e per square foot by 2050.More that 12 cities and states in The United States have passed similar standards for existing buildings.In Australia,a NABERS Energy rating is compulsory whenever an ofce buildings NLA is larger than 1,000 square meters and is being sold or leased.In France,rent increases for properties classified as F and G are no longer permitted and homes must have an energy consumption of less than 450 kWhEF/m/year to be deemed“decent”and eligible for rental,with additional requirements in future years.Technological advancements and economies of scale:Innovations in low embodied carbon and responsible materials,electrification equipment,grid-interactivity,and low-emission construction techniques are making it more feasible and cost-efective to build and retrofit properties with a focus on decarbonization.500 Bourke St,Melbourne,Australia.ISPT Operations.5 Star Green Star-Ofce As Built v2.A fully electrified repositioned 1970s asset,with lower embodied carbon,and carbon neutral in operation using 100%renewable energy.Fully electric commercial kitchen in action.Photo by:Global Cooksafe Coalition.6 https:/ https:/www1.bca.gov.sg/about-us/news-and-publications/media-releases/2024/09/10/changes-to-the-building-control-act-to-enhance-energy-efficiency-measures-in-existing-buildings-for-a-sustainable-future12BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONDespite this positive trend,challenges remain,including higher upfront costs associated with delivering climate-ready buildings,forced retrofits of financially stretched assets in markets with declining asset values,and the issues outlined earlier when we look at the disengagement of some asset classes and owners.There is also a clear need for standardized metrics to assess and compare the contextualized sustainability of buildings across regions,which established green building rating tools can ofer.The proliferation of sustainable finance taxonomies globally does not use established rating tools as proxies.Instead,these taxonomies have developed a diverse set of often complex mechanisms to define green buildings,which has had the unfortunate outcome of introducing confusion instead of helping direct capital to transition activities.RECOMMENDATIONSFOR FINANCIAL ORGANIZATIONS:Look for the fundamental elements of decarbonized buildings outlined earlier when assessing the climate risks and opportunities of assets.These ofer a more comprehensive picture of an asset transition pathway than any one or two data points at a fixed moment in time.In addition to green financing products,focus on transition financing that supports the wider holistic transition of the built environmentincluding developing products that ofer as-a-service models for building retrofits,allowing zero capital cost models with shared savings,and allowing inclusive opportunities for a wider demographic of buildings to retrofit.Incorporate independently verified building rating tools into investment and lending decisions to better manage climate-related risks and to better identify and capitalize on appropriate green investment opportunities.Include lower levels of rating to capture transition opportunities and improvements over time.Collaborate with industry stakeholders to better understand existing recognized building rating schemes to standardize metrics and reporting for sustainability performance.FOR REAL ESTATE OWNERS:Prioritize electrification,energy efciency,and responsible products in both new developments and existing properties to enhance value and reduce operational costs.Create decarbonization plans that chart a course to zero or low carbon over time that take into account technical,financial,and building lifecycle milestones considerations.Pursue green building certifications to demonstrate commitment to sustainability and hold design and operation teams accountable for results.Stay informed about regulatory changes and emerging technologies to remain competitive in a rapidly evolving market.FOR POLICYMAKERS:Implement and enforce regulations that promote the removal of fossil fuels,improved energy efciency and sustainability in the built environment,including a mix of incentives for green building practices and timebound requirements that would impact the ability to sell or rent poor-performing assets,which would drive the scale of action needed.Ofer default risk share schemes for financial institutions to extend debt mechanisms to a wider pool of asset owners for retrofits to encourage an inclusive transition.Support research and development in green technologies and materials to reduce costs and improve accessibility.Facilitate collaboration between public and private sectors to drive large-scale decarbonization initiatives.13BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONAdapting to a Changing ClimateWHY IT MATTERS The financial impacts of both acute and chronic climate events are growing as damages from these events rise due to increasing severity and frequency.The World Bank estimates direct damage to power and transport infrastructure from natural hazards to be approximately$18 billion annually in low-and middle-income countries.In 2023,the U.S.experienced 28 weather and climate disasters,each resulting in over$1 billion in property damage,a figure that is likely to increase in the coming years8.In Australia approximately 520,940 homes are predicted to be uninsurable by 2030,primarily due to increasing flood risk9.Furthermore,financial losses due to disrupted business functions may outweigh any costs associated with structural damage.For example,after Hurricane Sandy in the US,insurance payments for lost business were generally more significant than reconstruction expenses10.The Australian bushfires in 2019 caused over A$7888 billion in property damage and economic losses,impacting 80%of the population11.Additionally,infrastructure disruptions cost households and firms at least$390 billion each year due to natural hazards12.To make matters worse,reconstruction is often based on the same non-resilient construction practices.Lenders,insurers,and regulators are paying more attention to property resilience,as failure to address these risks could lead to higher insurance premiums,difculties obtaining loans,or even code-related regulatory hurdles.On the other hand,improving resilience can provide a competitive edge,ofering benefits such as reduced damages and downtime,lower insurance costs,better insurability in high-risk areas,long-term savings in maintenance and repair,enhanced buyer and investor interest,and alignment with ESG goals.There is an in-built incentive to reward resilience assets and to leave those that arent currently fit for purpose stranded.Because of this,there is a risk that sustainable finance taxonomies for real estate drive finance away from those that can be impacted by these risks not just those that are impacted by catastrophic shocks like disasters and extreme weather events,but also leaving many properties vulnerable to rising operating costs,potential revenue losses,potentially uninsurable,and unsafe conditions as the stresses from climate change impact the health,safety,and well-being of their occupants.There is an additional aspect to consider when it comes to resilience.A resilient building minimizes damage during such events but also ensures quick recovery with minimal downtime and loss of functionality.An individual resilient building,while allowing for quicker recovery itself,will not recover if those who utilize it are unable to do so due to the lack of resilience in the wider neighborhood.This is why resilience is such a key topic when addressing the mass market,which is typically less resilient to both chronic(stresses)and acute(shocks)events.This is why an inclusive transition would not be complete without considering the wider issues of bringing resilience into the mass market.8 https:/www.ncei.noaa.gov/access/billions/9 https:/interconnectedrisks.org/tipping-points/uninsurable-future10 https:/ https:/arr.news/wp-content/uploads/2024/06/Town-bushfire-disaster-review-and-lessons-ODonnell-2024.pdf12 https:/blogs.worldbank.org/en/climatechange/invest-resilience-invest-people14BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONSTATE OF THE MARKETWhile green,social,sustainability and sustainability-linked instruments continue to grow exponentially,financial instruments specifically designed and labeled to support resilient investments are still scarce.There are several challenges to this,from resilience assessments being still a niche area in building design to challenges in accessing much needed information about likely impacts in a location and to the recognition that many impacts need to be addressed at the planning and infrastructure scale.In the scale of the transition that is needed,no challenge is bigger than the need to drive finance at scale to address the already severely impacted assets by extreme weather events and temperature changes.The growing recognition of the need for climate resilience investments is reflected in significant initiatives from financial institutions such as the Asian Infrastructure Investment Bank(AIIB),which has issued its first climate adaptation bond,targeting resilient infrastructure,with a total issue size of USD 500 million13,and the European Bank for Reconstruction and Development(EBRD)that has also issued a USD 700 million climate resilience bond,the worlds first dedicated climate resilience bond14.The financing needs for climate adaptation and resilience in developing countries could reach$387 billion annually by 2030.However,a report by the United Nations Ofce for Disaster Risk Reduction(UNDRR)highlights that“less than 10%of all climate finance is allocated to adaptation,”indicating a significant funding gap for resilience initiatives compared to overall climate finance needs15.Taxonomies need to promote more consistent,transparent,and systematic approaches to defining and identifying resilience investment at both a building scale and an infrastructure level.They must also ensure that their criteria actively drive investment to improve the mass market rather than just recognizing those who are thankful ahead.SPECIFIC OPPORTUNITIES Investors and building owners are concerned about resilience,creating increasing demand for risk mitigation solutions.Specific opportunities that are actionable in the near term:Define your resilience goals and investments:Taxonomies are typically framed around climate adaptation by focusing on minimizing risks.For example,the EU Taxonomy directs finance toward projects that enhance climate resilience by reducing vulnerability.However,there are also opportunities to expand this approach to make assets more resilient and strengthen community resilience.For instance,finance can be used to enable shopping centers and community hubs to serve as emergency response centers during extreme weather events.Additionally,taxonomies can address adaptation-adjacent issues,such as improving grid resilience,to ensure that communities are better equipped to handle disruptions and maintain critical services.Quantifying value-at-risk and the financial benefits of resilience features is essential for strategic investments.For example,Moodys estimates that the annual average storm surge damage in Florida for 2050 is$88,886 for buildings below code,$46,264 for those at code,and$9,650 for those above code16.While universal metrics for asset resilience are still in development17,tools like ASTMs forthcoming Property Resilience Assessment18 ofer guidance.Investments should prioritize features based on asset type and location,and public funding can be leveraged to support these resilience measures.Advocate for increasing infrastructure and precinct resilience.While there are a number of ways to increase resilience at the asset level,the overall resilience of an asset is significantly impacted by the supporting municipal infrastructure,including power,water and transportation systems.Investors should engage and collaborate with relevant municipal authorities to improve the resilience of the supporting infrastructure.13 https:/www.aiib.org/en/news-events/news/2023/AIIB-Issues-First-Climate-Adaptation-Bond-Targeting-Resilient-Infrastructure.html14 https:/ https:/www.undrr.org/financing-prevention/100-investable-activities16 https:/ https:/ https:/www.astm.org/workitem-wk6299615BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONLESSONS FROM GREEN BUILDING PRACTICEMany green building practices inherently increase resilience.Energy efciency and on-site renewable energy reduce vulnerability to power grid disruptions.Design features such as passive cooling,natural ventilation,and advanced insulation reduce vulnerability to extreme temperatures.Likewise,water-efcient systems reduce vulnerability during droughts or water supply disruptions.Sustainable materials are often more durable and require less maintenance,which enhances resilience by extending their lifespan and reducing resource consumption.This durability minimizes waste and lowers greenhouse gas emissions and ensures that structures can better withstand climate-related challenges,ultimately leading to cost savings and improved long-term sustainability.At a societal level,the lower emissions and resource consumption of green buildings help mitigate the environmental factors contributing to climate-related disasters.In recognition of these co-benefits,several green rating systems already incorporate resilience criteria.For example,BREEAM,Green Mark,Green Star,HQE,and LEED all have requirements related to risk assessment and mitigation associated with natural hazards.As part of an existing bond program,Austin Independent School District(AISD)has rebuilt 19 schools to be LEED Silver certified(or higher)and to achieve Austin Energy Green Building three-star certification.These school buildings are designed to be energy efcient,with passive cooling components(e.g.,operable garage doors in classrooms and architectural shading on the building),and include shaded outdoor learning spaces.AISD also manages an urban forest of 15,000 trees over 2,200 acres of land across the city,which supports cooling through shade and evapotranspiration on campuses and allows the school district to identify tree-deficient schools for future planting.Photo credit:AISD Govalle Elementary School|LEED Silver Austin,Texas|Photo Brian Mihealsick16BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONRECOMMENDATIONSFOR FINANCIAL ORGANIZATIONS Integrate climate risk into underwriting and asset valuation:Quantify the potential value at risk from chronic and acute climate events and incorporate these risks into property underwriting and building valuations.This will ensure that asset values accurately reflect their exposure and resilience,guiding more informed investment decisions.Support clients in navigating their climate transition:Proactively engage clients on their climate risks and transition plans,ofering resilience solutions coupled with tailored financing options to mitigate these risks.This helps align financial products with long-term sustainability goals and reduces exposure to climate-related disruptions.Plan for what to do for people who own stranded assets.We all share the responsibility for assets that will genuinely be impacted by extreme weather events regularly.Flooding,hurricanes,bushfires,etc.,are leveling events-but the people living there are genuinely impacted by decisions made decades ago to build there.The finance sector benefitted from these decisions and should develop programs to assist these stakeholders.FOR REAL ESTATE OWNERS Assess the financial risk from chronic and acute events and quantify the potential value at risk.Identify and implement measures to increase resilience,which may require looking beyond the individual asset to the precinct or neighborhood where the asset(s)resides and the stakeholders who rely upon the services a building provides.Communicate resilience features to potential tenants and the broader market;increase occupant awareness and demand for resilience.FOR POLICYMAKERS Develop policies and standards to encourage private sector investment and leverage public sector funding:This aligns directly with the need to establish clear frameworks for sustainable finance and investment,ensuring that both public and private sectors can collaborate efectively.Reference to ISO 14090:2019 and frameworks like the World Banks Building Regulation for Resilience provide concrete pathways for implementation.Help facilitate industry consensus on assessing,quantifying,and monetizing resilience:Establishing consistent methodologies for measuring and valuing resilience is crucial for driving investment in sustainable finance.Clear,standardized metrics will help investors understand the financial benefits of resilience,making it easier to attract capital to resilient projects.Ensure regulatory frameworks drive finance to risk mitigation measures in new construction and major renovations:Ofering financial incentives to incorporate resilience measures directly supports the transition by making these investments more attractive and feasible for developers and property owners,encouraging broader market adoption.Update data collection requirements for property condition and seismic risk assessments to require data on climate risk.Liaise and advocate with municipal authorities to increase infrastructure resilience concomitantly with asset-level resilience investments.CTPs Green Bond Framework,developed in alignment with the 2018 Green Bond Principles,guides the financing of projects that enhance sustainability in operational practices and infrastructure development.The company certifies all buildings under BREEAM at very good or above and has achieved a low-risk ESG rating from Sustainalytics.The framework has supported the certification of several green buildings within CTPs portfolio.17BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONInvitationIn our first publication,“Financing Transformation,”we saw not just the potential of sustainable finance but a broader opportunity to rethink the role of all finance in driving the transformation of the built environment.This paper attempts to consolidate those insights and put forth a joint call to action.The discussion isnt just about how to channel sustainable finance into the transitionits about recognizing that all finance must now be viewed through the lens of sustainability.At this point,financing a development that is not on a pathway to decarbonize or become more resilient should no longer be acceptable.Every investment,whether labeled as“sustainable”or not,has consequences for the transition,and ignoring this reality undermines the very goals were trying to achieve.Financing an asset that fails to align with these objectives is as much a sustainability decision as supporting a green project.This paper invites us to engage in a broader conversation about ensuring that all finance,not just sustainable finance,is aligned with building a more resilient and decarbonized future.We hope to continue this dialogue with the investment community and,together,redefine what responsible finance looks like in the context of our shared climate and resilience goals.So whats next?During the next few months,we will continue to work together to see how we can help this transition by exploring how to provide better information to investors on climate mitigation eforts through reporting standardization.We are also working with other green building councils through WorldGBCs Asia Pacific Network to provide better guidance on the interpretation of the ASEAN taxonomy in their countries.Finally,we are seeking support to develop better resilience indicators.We are also looking to continue this conversation.We will look to engage with investors and policymakers to improve the current and in-development taxonomies.We dont have all the answers,but we have experience and are open and able to help.Whilst we have focused on the markets we broadly operate in,the call to action is clear and universal.We need action on a scale that is almost unimaginable,billions of better buildings everywhere.The finance sector is key,and we are ready to help you achieve our shared goals.18BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONAUTHOR BIOSJORGE CHAPA CHIEF IMPACT OFFICER AT GBCAAs the Chief Impact Ofcer at GBCA,Jorge ensures GBCAs strategic priorities,partnerships,products and services,including Green Star,accelerate the transformation of Australias built environment delivering healthier,more resilient,and positive places for people and nature.He is a member of Climate Bond Initiatives Low Carbon Buildings Technical Working Group,GRESBs Real Estate Standards Committee,Carbon Risk Real Estate Monitors Global Industry Committee,and represented WorldGBC in Science Based Target Initiatives Buildings Technical Expert Group.He chaired WorldGBCs Global Commitment for Net Zero Carbon Buildings Taskforce and WorldGBCs ESG working group.He is also a Board Director at GreenFleet.HANANE EL HAYEK,CFA ESG HEAD OF SUSTAINABLE FINANCE ALLIANCE HQE GBC Hanane El Hayek is a multifaceted expert in sustainable buildings and finance,EU Taxonomy verification and green building certifications.As Head of Sustainable Finance at Alliance HQE GBC and CERTIVEA,she leads the development of sustainable finance initiatives.She chairs the Advisory Board of Smarter Finance for EU and actively participates in the Climate Bonds Initiatives Technical Working Group and in the World Green Building Councils sustainable finance policy taskforce,where she leads the“EU Taxonomy verification and the role of green buildings certifications”workgroup.She has contributed to various international publications and initiatives.She is passionate about facilitating and accelerating the transition towards a low-carbon and resilient economy through innovation,collaboration,and education.JAMES FISHER HEAD OF STRATEGIC PARTNERSHIPS,BRE GROUPAn experienced ESG and Real Estate Sector Professional with a strong background in built asset sustainability,certification,energy efciency and consultancy.James possesses a balance of both technical and commercial skills ensuring that content-driven client relationships are at the heart of his work.Focus areas,in particular,are low carbon and net zero strategies for existing portfolios,benchmarking and performance KPIs for real assets.In parallel,James has a broad and deep understanding of the full range of ESG matters impacting on the value of real estate and the built environment.19BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONPAUL MATHEW SENIOR FELLOW,USGBCPaul Mathew has over 25 years of experience in building energy efciency and decarbonization.His expertise includes high-performance building technologies,financing and building valuation,energy and carbon benchmarking,and building performance standards.He is a Senior Fellow at the U.S.Green Building Council(USGBC),focused on sustainable finance and portfolio strategies.His career includes 21 years at Lawrence Berkeley National Laboratory.He has authored over 170 technical publications and received a U.S.Presidential Award for federal energy efciency.He holds a Bachelors degree in Architecture and received his Ph.D.in Building Performance and Diagnostics from Carnegie Mellon University.CHRIS PYKE CHIEF INNOVATION OFFICER FOR GRESBChris Pyke,Ph.D.,is the Chief Innovation Ofcer for GRESB and a Senior Fellow with the U.S.Green Building Council.Dr.Pyke previously served as Senior Vice President for Arc Skoru(part of USGBCs family of organizations),Chief Strategy Ofcer for Aclima,and a research scientist for the U.S.Environmental Protection Agency.He represented the United States as a lead author for the IPCC Fifth Assessment Report(Working Group 3).Dr.Pyke is on the faculty of the Urban and Regional Planning Program at Georgetown University.He holds a Ph.D.and M.A.from the University of California,Santa Barbara.JAMIE WALLIS SENIOR MANAGER,BUILDINGS,FITOUTS&PERFORMANCE,GBCAJamie is a Senior Manager at the Green Building Council of Australia and is based in Melbourne.He works extensively across the property sector,business and government to design and deliver energy efciency and sustainable design initiatives.Jamie works to engage with new and existing members and Green Star project teams to identify opportunities and promote the growth and uptake of Green Star.Jamie is the strategic lead for the Green Star Performance v2 rating tool,which assesses the sustainable operation and management of existing assets,and the GBCAs sustainable finance program.AUTHOR BIOS20BUILDING TRANSITION:FINANCING MARKET TRANSFORMATIONAR.BENJAMIN HENRY TOWELL CHAIR,SUSTAINABLE FINANCE WORKING GROUP,SGBCBenjamin is a Registered Architect(Singapore),a Chartered Surveyor,and a Chartered Environmentalist.He is active within a variety of professional bodies and NGOs,including WorldGBC and Carbon Risk Real Estate Monitors Global Industry Committee,providing technical diligence,strategy,oversight and thought leadership.Benjamin is well known for his roles in the development of Singapores environmental policy landscape,most notably the BCA Green Mark scheme.Professionally,Benjamin is the Executive Director for OCBCs Global Wholesale Banking Sustainability Ofce,developing innovative financial solutions,and delivering technical sustainability and transition advisory services for the banks clients.SARAH ZALESKI CHIEF PRODUCTS OFFICER,USGBC AND GBCISarah has been working at the intersection of sustainability,climate,and the built environment for 20 years.She previously served in numerous roles at the U.S.Department of Energy(DOE),most recently as part of leadership team established to oversee deployment of$15 billion in new programs and awards to states and communities related to the Inflation Reduction Act and Bipartisan Infrastructure Law.She also served as senior advisor for DOEs Building Technologies Ofce,where she led the zero energy building eforts,district and community-scale solutions,and data infrastructure portfolios.Prior to her time at DOE,Sarah established the City of Baltimores Ofce of Sustainability.Sarah received a Bachelor of Science degree in industrial and labor relations from Cornell University and both a Master of Environmental Management and a Master of Public Policy from Duke University.ACKNOWLEDGEMENTSThe authors acknowledge and thank the following individuals for their support in preparing and reviewing this paper:Julie Emmrich Sustainable Finance Lead,World GBCStephen Richardson Senior Impact Director,World GBCLatonia Lewis Director,USGBC Breana Wheeler Director of Operations U.S.,BREOlwyn Read Data Scientist Graduate,BRE AUTHOR BIOS
2024-12-23
20页
5星级
A PUBLICATION OF THE GENSLER RESEARCH INSTITUTENVIDIA HeadquartersEVERYTHING WE DO IS GUIDED BY OUR .
2024-12-20
81页
5星级
C R E O U T L O O K 2 0 2 5Resilience&Recovery:The Future of CRE in 2025U.S.Research Report A year a.
2024-12-19
16页
5星级
United StatesQ3 2024RRetailers turn to second-generation space for expansion opportunitiesUnited Sta.
2024-12-16
32页
5星级
Construction TechnologiesReducing Timelines&Increasing Quality ExpectationsCBRE RESEARCHDECEMBER 202.
2024-12-16
24页
5星级
1|Proptech M&A Overview 2H 2022Proptech|Market snapshotThe year 2021 saw the highest value of The ye.
2024-12-13
15页
5星级
.au/horizonreport20252nd editionYour guide to the future of the Australian property marketA New Cycl.
2024-12-13
72页
5星级
United StatesSeptember 2024RLuxury report 2024Shaping luxurys future:Trends in U.S.luxury real estat.
2024-12-13
38页
5星级
罗兰贝格：预见2026：中国行业趋势报告（90页）.pdf
智源研究院：2026十大AI技术趋势报告（34页）.pdf
中国互联网协会：智能体应用发展报告（2025）（124页）.pdf
三个皮匠报告：2025银发经济生态：中国与全球实践白皮书（150页）.pdf
三个皮匠报告：2025中国商业航天市场洞察报告-中国商业航天新格局全景洞察（25页）.pdf
国声智库：全球AI创造力发展报告2025（77页）.pdf
中国电子技术标准化研究院：2025知识图谱与大模型融合实践案例集（354页）.pdf
三个皮匠报告：2025中国情绪消费市场洞察报告（24页）.pdf
中国银行：2026中国高净值人群财富管理白皮书（66页）.pdf
亿欧智库：2025全球人工智能技术应用洞察报告（43页）.pdf
0731-84720580
商务合作：really158d
友链申请 (QQ)：1737380874
最新报告
中英对照
全文搜索
报告精选
PDF上传翻译
多格式文档互转
入驻&报告售卖
会员权益
机构报告
券商研报
财报库
专题合集
英文报告
数据图表
会议报告
其他资源
研报
新质生产力
DeepSeek
低空经济
大模型
AI Agent
AI Infra
具身智能
自动驾驶
宠物
银发经济
人形机器人
企业出海
算力
微短剧
薪酬
白皮书
创新药
行业分析
个股研究
年报财报
IPO招股书
会议纪要
宏观策略
政策法规
其他
人工智能
信息科技
互联网
消费经济
汽车交通
电商零售
传媒娱乐
医疗健康
投资金融
能源环境
地产建筑
传统产业
英文报告
其它
行业聚焦
芯片产业
热点概念
全球咨询智库
人工智能
500强
新质生产力
会议峰会
新能源汽车
企业年报
互联网
公司研究
行业综观
消费教育
科技通信
医药健康
人力资源
投资金融
汽车产业
物流地产
电子商务
传统产业
传媒营销
其它
十五五规划系列报告合集（共48套打包）
2026低空经济/低空产业报告合集（共47套打包）
AI、科技与通信
广告、传媒与营销
消费、零售与支付
HR、文化与旅游
金融、保险与投资
能源、环境与工业
医疗制药与大健康
物流、地产与建筑
其他行业
AI ▪ 科技 ▪ 通信
数字化
金融财经
智能制造
电商传媒
地产建筑
医疗医学
能源化工
其他行业
收藏
下载
2026-02-02
AI查数
行业数据
政策法规
商业模式
产业链
竞争格局
市场规模
产业概述
其它
2026年
AI读财报
年报
一季报
半年报
三季报
IPO招股书
社会责任报告
A股
IPO申报
港股
美股&全球
新三板
微信扫码登录
手机快捷登录
账号登录
