RC5: Nature of Entity's Business – Above Green

Intent

The entity’s primary business activities during the reporting year is used to determine which GRESB Components are applicable and should be completed. Refer to section Introduction for an overview of the 2020 Assessments Structure.

Requirements

Select the option applicable to the reporting entity. Refer to section Introduction for an overview of the 2020 Assessments Structure.

The entity's core business:

Management of standing investments only (continue with Management and Performance Components)

Management of standing investments and development of new construction and major renovation projects (continue with Management, Performance, and Development Components)
Development of new construction and major renovation projects (continue with Management and Development Components)

Terminology

Major Renovations: Alterations that affect more than 50 percent of the total building floor area or cause relocation of more than 50 percent of regular building occupants. Major renovation projects refer to buildings that were under construction at any time during the reporting year.

New Construction: Includes all activities to obtain or change building or land use permissions and financing. Includes construction work for the project with the intention of enhancing the property’s value. Development of new buildings and additions to existing buildings that affect usable space can be treated as new constructions. New construction projects refer to buildings that were under construction at any time during the reporting year.

Standing Investments: Real estate properties where construction work has been completed and which are owned for the purpose of leasing and producing rental income. The level of occupancy is not relevant for this definition. Also known as operating buildings.