The Priority Importance of Economic Motivation Factors Against Risks for Green Building Development in Malaysia

Abstract

Abstract. Green building development is an emerging paradigm for the construction industry practice all around the world. The establishement of Green Building rating tool helps to assess the whole life cycle process in planning to operation in a building. The Malaysian construction industry recognizes buildings that have been assessed using established green building tool such Green Building Index, Green RE or My CREST. Eventhough these rating tools provide motivation factors in its criteria and sub-criteria to promote sustainability in Malaysia buildings, there is still a major doubt to developers in terms of risks that may hinder their investments in green buildings. This paper highlights the priority importance of economic motivation factors against risks in the green building development in Malaysia. The data presented in this paper have been mainly derived from responses received through questionnaires completed by building stakeholders involved in green building developments. In order to determine the priority importance of economic motivation factors and risks identified for green building development, the questionnaire outcomes have been thoroughly assessed using the Analytical Hierarchy Process (AHP) method. As a result, lack of government incentive and high capital cost, which classified under green building risks, are the two key factors with highest priority importance that influenced most of the decision making for green building development in Malaysia. The results show green buildings have proliferated as governmental support and incentives with more exampler of higher profit return of investment in enhancing developers preference for green building development.

The Contractors’ Perception on the Development of Green Building Projects in Penang

“…Even though Dwaikat & Ali has identified various benefits connected with a green building including its financial benefits, the perception towards cost of implementing green building is still one of the factors hampering the development of green building [15]. According to Ghazali, future availability and cost of green construction can be a risk issue for green building investment from a risk standpoint [28]. The negative opinion of green building investment in general summarizes a cost risk aspect of the venture and technical challenges constitute an internal risk factor in terms of the proper technique of green building construction owing to diverse practice of environments.…”

Developing and Applying a Model for Evaluating Risks Affecting Greening Existing Buildings

“…The model includes 6 constraint factors, 22 risk factors, and 11 objectives throughout the green building project life cycle [14]. The motivation factors against risks in green building project development in Malaysia were qualitatively studied to highlight the importance of economic issues [18]. A model was presented for the interactive networks of the risks associated with different stakeholders in green building projects to gain an understanding of the key risk networks [19].…”