ABSTRACT
The importance of sustainable development is a new concept which focusses on the tripod of economic, social and environmental sustainability at all levels: society, industry and individuals. States without the industries’ contribution cannot achieve the desired goals, and specifically the real estate industry being the world’s largest sector, affects to a large extent all the three levels. This chapter aims to provide a background setting and introduction into various aspects of sustainable business development with a specific emphasis on the real estate industry. Following further research on this topic, it has become evident that management is improved by creating synergies to better understand the risks and opportunities involved with sustainability, and pursuing marketing activities including publishing effective reporting creates trust and supports value creation and brand loyalty. Among several recommendations for changes and improvements that are suggested, the most direct changes should be on the mentality of businesses’ leaders and employees, and on the relevant legislation as the real estate sector sees the regulatory change as an opportunity.
