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The Impact Of Green Label On Sustainable Commercial Office Development In An Emerging Market-Lagos

Author

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  • Austin Otegbulu

Abstract

Commercial office developments are generally recognised as the workplace for service sector employees and the centres for greater proportion of economic activities in cities. The dominant perception in literature is that higher rental premium is the driving force or motivation for green agenda participation including embarking on office development with green certificates and label. Lagos is an emerging market with a reasonable number of office buildings with green features and very few with green label(certification). In light of the above background, this study is aimed at investigating the impact of green label on rent premiums of office developments in the study area. The study is based on both quantitative and qualitative investigation on the motive for preference for both labelled and non-labelled green building. It investigates differential in the rent premium in both classes of green buildings. Data was obtained from developers, property managers and occupiers with leasing decision power. Findings from the study are considered useful for real estate developers particularly the commercial office development submarket.

Suggested Citation

  • Austin Otegbulu, 2019. "The Impact Of Green Label On Sustainable Commercial Office Development In An Emerging Market-Lagos," AfRES 2019-035, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:2019-035
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    More about this item

    Keywords

    Green label; Green office development; Lagos; Rent premium; sustainability;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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