There is growing recognition among city governments and urban planners of the crucial role that a transparent real estate sector can play. Not only in attracting investment, but also in boosting business efficiency, raising employee wellbeing and productivity, and enhancing the quality of life through robust and well-enforced legal and regulatory frameworks that protect citizens and their property rights.
Crucially, with real estate accounting for 40 per cent of carbon emissions, transparency relating to regulations, standards, and metrics for sustainable, low carbon, and resilient buildings will be an essential requirement for moving to a significantly decarbonized economy. There are mounting pressures on the real estate industry to invest and do business transparently and sustainably.
Additionally, the COVID-19 pandemic has brought the issues of transparency and trust into even sharper focus. During times of such uncertainty, the need for transparent processes and accurate, timely data becomes more important than ever.
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