Environmental certifications play a crucial role in promoting the adoption of sustainable and responsible practices in the construction and operation of commercial real estate. In Mexico, approximately 3% of the gross leasable area (GLA) of retail properties has sustainable features, according to data from SiiLA Market Analytics. However, there is an increasing number of retail properties with environmental certification. A clear example is the nationwide increase of buildings with LEED certification granted by the U.S. Green Building Council (USGBC).

Over the past ten years, the number of retail properties with LEED certification in Mexico has increased 9.5 times, according to SiiLA-analyzed USGBC data. Currently, there are at least 57 retail properties with this international recognition, including malls, in addition to 20 in the process of acquiring it. Since 2011, except for 2013, when there were 23 applications, an average of four LEED certification applications for retail properties were submitted each year in Mexico. However, from 2021 to now, there have been an average of six annual applications. This data indicates that, over time, environmental criteria have gained greater relevance in developing and managing projects related to the retail sector.

Properties such as Altacia Shopping Center in Guanajuato and Esfera City Center in Nuevo Leon have LEED Gold and Silver certifications, respectively. Additionally, some projects or properties under development, such as Alaia Cumbres Center in Nuevo Leon, are in the process of obtaining this certification, according to the USGBC.

Environmental certifications contribute to conserving natural resources, reducing greenhouse gas emissions, and mitigating climate change, but they also generate significant economic and social benefits.

In economic terms, certified buildings can reduce long-term operational costs by being more energy and water efficient. Additionally, these properties tend to have a higher value in the market, resulting in higher rental or sale prices and a more favorable return on investment. In this regard, SiiLA Market Analytics data indicate that, in some cases, the average market price of sustainable retail properties exceeds the market price of the sector. An example is Distrito La Perla in Jalisco, which has the EDGE environmental certification granted by the International Finance Corporation of the World Bank Group. This “Life Center” has an average monthly rent of approximately $31 per square meter, while the sector average is around $25.

Regarding social benefits, environmental certifications help improve the quality of life for occupants by providing a healthy and comfortable environment. They also contribute to job creation in sustainability-related sectors and promote environmental awareness among companies and people.

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