Redevco to apply sustainability standards to EUR 1.8bn pipeline

Amsterdam-based property group Redevco has committed itself to codified sustainability standards for its EUR 1.8bn pipeline of retail development projects across Europe. Jaap Gillis, Redevco's chief operating officer and chairman of the International Shopping Center Council (ICSC) Europe, is one of the main voices in the industry calling on developers and property owners to make sustainability central to their thinking. The ICSC is campaigning for the retail industry to adopt the BRE Environmental Assessment Method (BREEAM) standard.

Speaking to PropertyEU during the recent ICSC conference in Amsterdam, Gillis said: 'We have to try to avoid having too many types of certificates for energy-efficient or environmentally friendly buildings. This is exactly what we foresaw as a board - we should act as an industry'.

Redevco, as shown in research carried out by PropertyEU, is a leading retail developer in Europe. It is active in 20 countries and has 30 projects in its pipeline comprising a total of 610,000 m² of gross leasable area. Retail projects, valued at EUR 1.8bn, account for about 90% of Redevco's development programme. Click on the link at the bottom of the page to read the PropertyEU survey of retail developers' pipelines in Europe.

Redevco, in common with other Dutch retail specialists, is very active in Turkey, currently a retail 'hot spot'. Patrick van Dooyeweert, managing director of Redevco's Turkish operations, said last month that the group had six projects under development in the country and another 12 in the pipeline. Redevco has committed EUR 600mln to date in Turkey. In Romania, Redevco has established a joint venture with local developer EMCT to develop retail properties. The business plan anticipates an investment of EUR 500mln over the next three years

The first BREEAM standard for retail was launched in the UK in 2004. Since then, about 116,000 buildings have received BREEAM certification, while no less than 714,000 buildings have been registered to be certified under the BREEAM standard.