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Sustainability in Real Estate Development Projects

In: Understanding Türkiye’s Real Estate Markets

Author

Listed:
  • Harun Tanrıvermiş

    (Ankara University, Department of Real Estate Development and Management, Faculty of Applied Sciences)

  • Yeşim Tanrıvermiş

    (Ankara University, Department of Real Estate Development and Management, Faculty of Applied Sciences)

  • Sinan Güneş

    (Ankara University, Department of Real Estate Development and Management, Faculty of Applied Sciences)

Abstract

The real estate sector makes a significant contribution to addressing climate change, as buildings are responsible for approximately 40% of annual carbon emissions. This chapter examines how principles of sustainability can be integrated into each phase of the real estate development process, from land acquisition to sale, employing the “Quadruple Net Value Analysis” methodology, which established assessment models inspire. This approach evaluates real estate development initiatives across economic, environmental, social, and sensory dimensions, illustrating that sustainability extends beyond technical solutions to encompass institutional learning and multi-stakeholder governance processes. Case studies demonstrate that sustainable projects can result in savings of up to 30% in operating costs, enhance asset values by 15–20%, and yield rental returns that are 10–15% higher. The integration of innovative methodologies such as smart building technologies, building information modelling (BIM), and circular construction practices into project development facilitates developers in optimising both environmental performance and financial returns. The significance of environmental, social, and governance (ESG) criteria in investment decisions, coupled with the proliferation of green finance instruments, is expanding access to funding for sustainable real estate development projects. Nonetheless, the transition in real estate development presents several challenges. These include delays in the supply of sustainable materials, a fragmented regulatory environment, and a deficiency of green building expertise among construction teams. Future projects grounded in regenerative design principles and circular economy approaches are anticipated to revolutionise the sector from a “do less harm” philosophy to a strategy of “active environmental contribution”. Sustainable real estate development introduces a new paradigm for urban growth by harmonising environmental responsibility, economic efficiency, and social justice.

Suggested Citation

  • Harun Tanrıvermiş & Yeşim Tanrıvermiş & Sinan Güneş, 2026. "Sustainability in Real Estate Development Projects," Management for Professionals, in: Tobias Just & Harun Tanrıvermiş & Yeşim Tanrıvermiş (ed.), Understanding Türkiye’s Real Estate Markets, pages 355-394, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-032-13297-0_18
    DOI: 10.1007/978-3-032-13297-0_18
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