Sustainability in Retail Developments: Case of Singapore
||Sustainability in Retail Developments: Case of Singapore
||22nd Annual European Real Estate Society Conference in Istanbul, Turkey
||In Singapore, the retail sector is one of the highest consumers of energy per floor area, with tenants within a retail mall accounting for approximately 50 per cent of the building’s total energy consumption (BCA, 2013). This reflects the need to reduce the energy consumption of retail tenants to enhance the mall’s sustainability, and to lower the carbon footprint of the retail sector in Singapore. __Going green has been adopted in many developed countries such as Australia, Europe, Canada, and USA. The aim is to encourage both landlords and tenants to minimize adverse environmental impact, and is widely known as a powerful mechanism to drive carbon dioxide savings in commercial properties. _However, sustainable developments are a relatively new phenomenon in Singapore. __This study examines how the implementation of sustainability practices and approaches can contribute to an increase in overall patronage to a mall, and if shopper characteristics such as their education levels and ethnicities will influence their perceptions on the need and benefits of sustainability in retail malls.__The results obtained a sample of two malls found that most shoppers are more incentivized to increase patronage to malls with sustainability practices including the introduction of green leases._ _
||Sustainable developments, Energy conservation, Retail malls, Singapore, Green leases
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||Green Buildings & Environmental Policies
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