What's Happening?
The International WELL Building Institute (IWBI) has launched two new rating systems, the WELL Real Estate Rating and the WELL Operations Rating. These systems are designed to help real estate companies and funds implement and scale health strategies across their portfolios. The WELL Real Estate Rating focuses on enhancing base building infrastructure, while the WELL Operations Rating addresses building operations and maintenance. These ratings are derived from the WELL Standard and aim to provide a practical pathway for measuring and validating health strategies critical to building performance. The initiative offers organizations recognition for leadership in health and social impact strategies relevant to real estate investors and tenants.
Why It's Important?
The introduction of these ratings is significant as it addresses growing concerns among investors and tenants about health and wellness in real estate. By providing a structured approach to implementing health strategies, the ratings could influence the real estate market by prioritizing health-focused building designs and operations. This move may lead to increased demand for properties that meet these standards, potentially driving up property values and encouraging more developers to adopt health-centric designs. The ratings also offer a competitive edge to companies that achieve them, as they can attract health-conscious tenants and investors.
