As shown during the ALDREN event in the European Parliament building renovation will be the flagship of the European Green Deal. The financial sector should play a key role to support the renovation wave. Linking building renovation and building valuation will be crucial.

Therefore, the 13th of February an ALDREN Alliance meeting related to Real Estate Valuation was organised in Paris. External Valuation Analysts from Cushman & Wakefield, BNP Paribas Real Estate, Caisse des Depots, Observatoire de l’Immoblier Durable (OID) and ALDREN consortium members, in total 12 experts, attended the meeting.

The aim of the meeting was to check how the ALDREN results could be used as input to building valuation. After a short presentation by the ALDREN team of the ALDREN approach in general, and building valuation in particular, Cushman & Wakefield explained their approach with a focus on building resilience related to climate change. The 2050 goals are too far for investors today. It was underlined that investors will look on climate targets and resilience in the next building upgrade. Integrating new parameters and time horizons in building valuation as the 2030 / 2050 targets of the European Green Deal, will take time and it should be done collectively by all valuators to not be disruptive in building valuation. This last point was also confirmed by BNP Paribas Real Estate and OID.

The meeting showed that creating a common language “from the boiler room to the board room” between the different stakeholder groups involved in building renovation will take time. To improve the usability of the ALDREN results in building valuation, Cushman & Wakefield will use the ALDREN results in an ALDREN pilot hotel building in Spain for building valuation.

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