"The Prime Property Award sees Union Investment continuing an involvement which has been recognising exemplary European real estate projects since 2001. Up to 2006, the former DIFA-AWARD focused on urban quality of life and urban quarters, gaining a European reputation as the “property Oscar” for cities. The 2008 competition will focus for the first time on property investments that make an important contribution to the quality of the urban environment by virtue of their sustainability, e.g. with regard to the ecological impact, and by improving and enriching their surroundings.
2008 Prime Property Award attracts 90 entries covering real estate projects in 18 European countries
A total of 90 real estate projects have been submitted for the newly launched Prime Property Award, which recognises sustainable real estate investments in Europe. The entries range from spectacular new builds to existing property developments and complete refurbishments, each featuring a commitment to ecological principles and the creation of a healthy living environment, while combining a high level of architectural quality with a long-term return on investment. The submitted real estate projects span 18 European countries, from Scandinavia to Central Europe, Greece and Turkey – evidence that awareness of the opportunities presented by sustainable property investment extends right across the continent
The Theme of the 2008 Award: Sustainable Real Estate Investment
What will be the most important quality attributes of premium properties in the future? Alongside a positive impact on their location, energy efficiency could become one of the key quality attributes that allows a property to enjoy sustained success. The economic opportunities associated with ecological planning and construction – such as a reduced energy requirement and enhanced workplace quality – are already becoming apparent.
Based on these insights, the 2008 Prime Property Award by Union Investment will recognise European real estate investments that stand out by virtue of their ecological, social and economic performance. The search is on for commercially successful property investments that visibly promote the quality of their location as part of a forward-looking investment policy, while also featuring environmentally friendly building planning.
The Prime Property Award jury will be looking for sustainable real estate investments (new build, existing use redevelopment or refurbishment; commercial and/or residential use) that can demonstrate outstanding performance or qualities with regard to the following aspects:
Special Aspects:
- urban sustain- ability)
- ecologically sustainable building planning:
- commercial sustainability:
- highly beneficial to the
urban surroundings (urban sustain- ability), including improved
accessibility and transport links, opening up of site/new access through
the site, design of the surroundings, preserving the architectural
heritage, triggering further building work/investment at the location,
architectural and/or cultural improvement of the location or an
appropriate addition to the usage mix, improving “visitor quality”
- ecologically
sustainable building planning: lowest possible environmental impact
throughout the entire lifecycle of the building, i.e. using regenerative
energy sources, energy- saving construction or upgrading/modernisation,
building bio- logy, quality of building substance, long service life,
efficient use of space, etc.
- commercial sustainability: e.g. a consistently high occupancy rate, achieving projected rental income, maintaining/ enhancing the value of the property" ( CS della Società)