Moscow green office stock ‘set to double’

The market for ‘green’-certified office stock in the Russian capital Moscow is set to grow rapidly, according to new research from Jones Lang LaSalle.

The JLL report shows that there are currently just eight office buildings in the city, and part-premises in two further buildings, with either LEED or BREEAM certification but that figure is set to double by the end of 2015.

A further 10 Moscow office buildings with a combined lettable area of more than 300,000 m2 are expected to receive environmental certification over the next two-and-a-half years.

Russia enjoys lower energy prices than Western Europe and, therefore, the question of saving resources has been less pressing for the Moscow market. Yet significant interest from foreign developers and tenants is driving increased interest in sustainability, according to JLL sustainability consultant Ksenia Agapova.

‘In Moscow, being "green" is a tool for differentiation of commercial assets and is seen as a new approach for revaluing portfolios and a way of offsetting future risks in energy prices. An important role is also played by the prestige of occupying an office in a ‘green’ building,’ she said.