An exploration of the economic impact and project process influence of BREEAM certification on commercial properties
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Typ
Examensarbete för masterexamen
Master's Thesis
Master's Thesis
Program
Design and construction project management (MPDCM), MSc
Publicerad
2023
Författare
Andersson, Daniel
Sterner, Erik
Modellbyggare
Tidskriftstitel
ISSN
Volymtitel
Utgivare
Sammanfattning
The growing emphasis on environmental responsibility has prompted industries, including
commercial real estate, to reassess their standards and practices. This transformation has led to
sustainable properties gaining prominence in this evolving landscape, particularly in Sweden,
where certifications have become an industry norm and integral to construction projects.
However, these implementations of environmental certificates such as the Building Research
Establishment Environmental Assessment Method (BREEAM), have led to various challenges
for the project leaders in the construction process, impacting both finances and processes.
Acknowledging this shift, this study therefore delves into the economic impact of BREEAM
certification on commercial properties, including investigating the economic value of
commercial properties, as well as exploring the potential increase in economic value from
BREEAM. Moreover, the report also discusses the challenges associated with the certification
process, including increased complexity and additional work, but also management strategies
to manage the implementation. This was enabled through an inductive approach and a
qualitative research strategy, including semi-structured interviews with key stakeholders on a
large construction company which delves deeper into one of their projects. This study in the
Swedish context implied that contrary to previous literature, BREEAM certification's economic
benefits, such as price and rental premiums are minimal, emphasizing the predominant
influence of external drivers and highlighting administrative and hidden costs as primary
contributors to the overall cost of BREEAM certification on commercial properties. It was
further identified that the implementation of BREEAM certification in commercial office
building construction significantly increases workload and complexity, demanding early
planning, effective management strategies, and leveraging the experience of project
stakeholders, underscoring the importance of addressing the complexity for successful project performance
Beskrivning
Ämne/nyckelord
green investments , environmental certifications , BREEAM certification , commercial properties , AEC sector , green properties , sustainable properties , real estate , property