Zirve Eki - ISTANBUL REstate

16-17 Haziran 2010
By doing this, this processes, remember when you try to take away
the responsibility of the human factor, not being able to meet the
sustainability goals by creating these guidelines, by creating the
systems that would control the life of the building. On top of that
now, after you look past the cost factor, you also have the quality
of air, the quality of life within the building. And LEED systems, LEED
guidelines envision a more high quality life. The quality of the air is
better, the quality of the building is better, the quality of the life is
better. And all of the guidelines within the LEED guidelines try to
attain that. So the client realizes that this was more than just simply
trying to create a LEED building that is more marketable that you
can actually use as a marketing tool by simply indicating this is the
first LEED building in Riyadh, there are other items beyond that, in
terms of efficiency of cost for maintenance, for maintaining the
building in the energy required. So you are lowering energy cost.
You are creating lots of a need to suck energy from the utility system,
so the infrastructure now is getting reduced, so you reduce your
infrastructure costs. And then you are also creating a higher quality
life space that live within.
Bar›fl Onay: So, basically I assume that your client is not willing
to sell this building, maybe to operate it.
Jonathan Roberts
Equity Value Group
First of all, I should say that I am actually Mr. Charmales' Equity
Value Group advertizing agency. So, I would like to say where that
he likes to buy buildings for six months, six years or sixty years. But
I know that he himself made a part of his fortune in recycling in
Canada. So it is very important to know the whole green area and
currently he is looking to emerging markets outside of America
and this is one of the directions he is looking in. I think the
sustainable side of things is something which, I know quite well
that you are probably looking at it from the point of view of, I
guess, efficiency. I think that is one of the most important parts
of this not only for its investment but obviously in the long term
for the cost savings of introducing some of these new ideas. Mr.
Hakan Bey's very futuristic presentation would certainly challenge
him I think. In his imagination he is a great character, for lots of
different things. So, I think for the sustainable issue and the LEED,
I have heard a bit about it from Edward, that is a very interesting
Gayrimenkul Zirvesi 10
Edward Mayer: Excuse me?
Bar›fl Onay: Your client maybe is looking for ways not just sell the
building but just operate it.
Edward Mayer: Right now, some of the buildings, he will be
maintaining himself but other the properties he is looking at selling
the property. Yes, also I mean, when you look at it, it is much more
a way - someone who is looking at owning the building will actually
have more incentive to do this because of the maintenance cost and
the future cost. But also, you can sell a property, you increase the
value of the property by selling a property that you can tell the new
owner that is a more maintainable building. Although, yes, it is going
to cost you more money to purchase it from me, but it'll cost you
less to maintain it through time.
Bar›fl Onay: So, right here I want to bring Jonathan into the
conversation. Jonathan is coming from Equity Value Group. So, he
is one of these potential owners that we have been talking about.
If he is going to keep on owning the building or he is going to keep
on managing the building or just selling it. So Jonathan, could you
just relate for us about from the perspective of the investor? What
this whole sustainability issue represents for you?
and something which, I think, probably one would find him subscribe
to that anyway. He is Los Angeles based and a lot of the stuff they
do there is, I think, quite advanced and that is where advertisers
came from, I believe. So, certainly he is an interesting character.
Oturum Baflkan› : Bar›fl Onay
So, let's start talking about, let's say, investment habits of Mr. Charmales that you are representing here right now. So, would
you be inclined to say that a building that is said to be green, let's say, said to be efficient or a building that is certified to
be green or certified to be efficient. Would it make a difference to you to know that this building is certified green? And
the other one is yeah, it look green. How would that make you feel? Because for many of the people that I come across in
my field of expertise, most of them are architects or most of them are like engineers. They all know about these things. They
know what LEED is, they know what BRI-M is, they know how to make a building sustainable this and that. That is a long
past issue but for someone that is outside of this sphere, for someone who is new to this sphere, would it make a difference
to you in your choice of investment?
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