Union Investment has received 90 entries for the 2008 Prime Property Award. Projects have been submitted from 18 European countries and range from new buildings to existing developments and refurbishments. The judges will be looking at the combination of architectural quality with a commitment to ecological principles and a long-term return on investment. In mid-March the jury will come out with a shortlist of 30 entries and the EUR 30,000 prize will be awarded in October at Munich's EXPO REAL. The international jury will be composed of town planners, civil engineers, architects and investors.
Union Investment has received 90 entries for the 2008 Prime Property Award. Projects have been submitted from 18 European countries and range from new buildings to existing developments and refurbishments. The judges will be looking at the combination of architectural quality with a commitment to ecological principles and a long-term return on investment. In mid-March the jury will come out with a shortlist of 30 entries and the EUR 30,000 prize will be awarded in October at Munich's EXPO REAL. The international jury will be composed of town planners, civil engineers, architects and investors.
Sustainability already features in Union Investment's activities through their contributions to the development of a green building certification scheme as part of the German Sustainable Building Council.
Dr. Reinhard Kutscher, chairman of the management board of Union Investment Real Estate, commented: 'Interest in sustainability used to be largely confined to the academic world, but things are starting to change. Investors are becoming increasingly aware that by adopting an ecological approach, they are investing in the long-term quality of their property portfolio - and that this strategy pays dividends.'
