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Industrial and logistics developers are delivering ever more complex products in response to stricter ESG, EU Taxonomy and sustainability regulations. Further, a shift towards built-to-suit development gives greater scope to meet tenant specifications, beginning with consultations in the initial design phase and continuing throughout construction.
ESG-compliant features and sustainability accreditation are increasingly the norm in real estate as an essential requirement from tenants and investors and as a regulatory expectation from the EU and national governments.
This has been a restrained year for development activity in the office and retail fields. That in the industrial and hotel sectors, however, has been more dynamic. Investment activity has reflected the cautious wait-and-see strategy being adopted by investors towards the Hungarian property markets and, indeed, CEE and Europe as a whole.
The 45,000 sqm MG3 warehouse at HelloParks Maglód has become the first industrial property in Hungary to achieve the highest, "Outstanding" rating in the New Construction category of the Breeam sustainability standard, according to a press release sent to the Budapest Business Journal.
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ESG-compliant features and procedures in real estate are increasingly the norm. That is exemplified by accreditation to a recognized third-party sustainability system by high-end office and industrial developers being a fundamental market requirement from tenants and to meet regulatory expectations from the EU and national governments.