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 ratings are designed to help real estate companies
and funds implement and scale health strategies across their portfolios. The WELL Real Estate Rating focuses on improving base building infrastructure, while the WELL Operations Rating addresses operations and maintenance. These ratings provide a framework for measuring and validating health strategies critical to building performance, such as air ventilation, water quality, and design elements that promote movement and mindfulness. The ratings are derived from the WELL Standard and offer organizations recognition for their 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 building environments. By providing a structured approach to implementing health strategies, the ratings can enhance the value and appeal of real estate assets. This move reflects a broader trend in the real estate industry towards prioritizing health and wellness, which can lead to increased tenant satisfaction and potentially higher occupancy rates. For investors, these ratings offer a way to differentiate properties in a competitive market by showcasing a commitment to health and sustainability.
What's Next?
Real estate companies and funds are expected to begin enrolling in these new rating systems to gain recognition and improve their building portfolios. As more organizations adopt these ratings, there may be a shift in industry standards towards more health-conscious building practices. This could lead to further innovations in building design and operations, as companies seek to meet the criteria set by the WELL ratings. Additionally, the success of these ratings could prompt other sectors to develop similar frameworks for health and wellness.
