2022 Summer Issue - 22

developments
completing a flood risk assessment
for assets in Hong Kong and the
Greater Bay Area. It has a 2035 net
zero carbon goal and is aligning
reporting with the International Sustainability
Standards Board.
Link's Business as Mutual program
seeks to engage all stakeholders
and encourage collective
action climate resilience.
" I might build the most sustainable
building, but if I don't work
with neighboring properties and
the surrounding infrastructure, in
the event of flooding, no one will
be able to access my building. We
need to work with aligned organizations
to achieve common goals
such as net zero, " Kwan said.
MARK COOPER is editor of Sustain.
ULI Announces
Formation of ULI
Vietnam Committee
ULI announced that it will be
expanding its Asia Pacific footprint
to include Vietnam. To align with its
ambitions to grow its presence and
membership and establish a locally
led council of industry experts, the
Institute has formed a ULI Vietnam
committee.
At present, the ULI Vietnam
committee consists of a growing
network of members including
industry-leading experts, landlords,
owners, developers, and urban
planners in Vietnam. The newly
formed committee has appointed
Vo Sy Nhan, a cofounder of Gaw
NP Capital and the CEO of Empire
City, as chair. He will help formulate
the committee's strategic plan and
grow its membership and footprint
in Vietnam.
Nhan brings extensive privateand
public-sector and industry
leadership experience in real estate
development and investment to
his new role. Prior to his venture
into the private sector, he was a
22
public servant at the Department of
Planning and Investment of Ho Chi
Minh City. Nhan is also an active
member of the Young President
Organization (YPO) and a Harvard
Business School alumnus.
David Faulkner, president of ULI
Asia Pacific, commented: " We are
really excited to finally establish our
footprint in Vietnam, an exciting
real estate market and one of our
core focuses in Asia. ULI Vietnam
will bring together a variety of
public and private stakeholders to
find solutions and build consensus
around land use and development
challenges. Moving forward, we aim
to provide the avenues for active
sectoral dialogues in Vietnam and
facilitate the exchange of knowledge
between industry experts and
the wider community. "
At the well-attended event, ULI
also launched the Vietnam edition
of the Emerging Trends in Real
Estate® Asia Pacific 2022 report,
authored in partnership with PwC.
The report ranked Vietnam fifth
among Asia Pacific markets this
year in terms of city development
prospects, citing its popularity in
the wake of persistent strong foreign
investment in local industrial
parks. Despite its strong potential
in the commercial real estate segment,
Vietnam has reportedly been
adversely affected by COVID-19
lockdowns as large manufacturers
with factories in the country
either have found or are looking for
alternate bases such as in China,
according to the report.
Nhan said: " While Vietnam
is seeing significant progress in
terms of sustainability, industrial,
and investments, rising construction
costs, a nascent transaction
market, and solutions for affordable
housing remain some of the major
challenges locally. Introducing ULI
to Vietnam unfolds the organization's
strong commitment to shape
the future of the built environment
in the country. I look forward to
working with our members to
URBAN LAND SUMMER 2022
curate programs that advance Vietnam's
real estate sector by providing
leadership, education, and a
platform that will facilitate sharing
and awareness of global best practices
in land development. "
CRYSTAL LO is a senior associate,
communications, with ULI Asia Pacific.
ULI Publishes New
Resource Highlighting
Renewable Energy
A strong business case exists for
including renewable energy assets
in real estate development plans,
according to a new ULI report.
Investments in renewable energy
have the potential to unlock billions
in new real estate value, helping
owners reduce long-term energy
costs and, in many cases, generate
supplemental income from their
existing assets.
The report, Renewable Energy
Strategies for Real Estate, is the
latest publication from ULI's
Greenprint Center for Building
Performance. As momentum
builds for decarbonizing the built
environment, the report provides
a comprehensive framework for
implementing renewable energy
strategies both on and off site. By
prioritizing renewable energy in
projects, real estate organizations
can reduce their carbon footprint
and add value for buildings, tenants,
investors, and communities.
" Renewable energy is the
fastest-growing power source for
buildings globally but still accounts
for less than 15 percent of the
total energy used by buildings, "
says Billy Grayson, executive vice
president of centers and initiatives
at ULI. " Between rising prices for
fossil fuels, the declining cost of
renewables, and more government
incentives for emissions reduction,
the business case for pursuing
renewable energy in real estate has
never been stronger. ULI Greenprint
is excited to bring leaders from the
real estate and sustainability sectors
together to provide a model
for putting real estate on an environmentally
conscious trajectory for
the long term. "
The report is informed by the
views of ULI experts, real estate
leaders, and authorities in green
energy. It identifies four key recommendations
for practitioners interested
in renewable energy:
1. Create tailored approaches.
The best strategy for implementing
renewable energy strategies varies
by organization, building, and
situation-and is informed by an
entity's goals, financial situation,
and priorities.
2. Plan ahead. As demand for
renewable energy increases, real
estate organizations can begin
exploring renewable energy opportunities
now in order to gain experience
and build relationships with
service providers that can help
them succeed.
3. Involve experts. On- and offsite
renewable energy deal structures
are numerous, complicated,
and best supported by expert external
stakeholders.
4. Maximize energy efficiency
first. There are several steps on the
path toward net zero emissions,
including use of renewable energy,
but energy efficiency is often the
highest-impact investment.
" Renewable energy is not new
to real estate, " Grayson says. " In
reality, these strategies can help
developers and stakeholders
lower energy costs, earn additional
income, and access financial
incentives-not to mention they
can help meet tenant and investor
expectations and create community
benefits. "
Renewable Energy Strategies
for Real Estate is available on
knowledge.uli.org. UL
ELLA FERTITTA is a ULI senior communications
manager.
http://knowledge.uli.org
2022 Summer Issue

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