Factors affecting green office building value in Kuala Lumpur / Nur Eamyra Hisham and Nurul Sahida Fauzi

• Main Authors: Hisham, Nur Eamyra, Fauzi, Nurul Sahida
• Format: Conference or Workshop Item
• Language: English
• Published: 2023
• Subjects: Sustainable architecture
• Online Access: https://ir.uitm.edu.my/id/eprint/98167/1/98167.pdf; https://ir.uitm.edu.my/id/eprint/98167/
• Institution: Universiti Teknologi Mara

In Malaysia, there is currently a noticeable increase in the number of green structures, particularly green offices. This trend is driven by the perception that green buildings are more valuable than conventional buildings, with higher rental rates being seen in Kuala Lumpur in particular. However, there is a significant research gap regarding the specific factors that have a significant influence on the value of green office buildings. Therefore, this study aims to close this gap by investigating the factors that impact the value of green office buildings in Kuala Lumpur. A semi-structured face-to-face interview was conducted with three participants who are valuers from Ian Scott International (M) Sdn Bhd, IM Global Property Consultants Sdn Bhd, and Intra Harta Consultants Sdn Bhd. The data collected were analyzed using content analysis. The research findings revealed five factors which are demographic location, cost, indoor environmental quality, social and environmental that influence the value of green office buildings. The research has successfully identified and examined the factors that significantly impact the value of these green office buildings. Developers and investors should prioritize strategic locations that are in high demand and close to public transportation and amenities to maximize property value. Moreover, policymakers and stakeholders should continue to support and promote green building initiatives through incentives and regulations to encourage more sustainable developments in the city.