‘Real estate portfolios facing huge climate hit’ 

Quick Summary:

From intensifying storms to wildfires and droughts, physical risks from climate change could cost the real estate industry well over $500 billion by 2050, according to a new report co-authored by the sovereign wealth fund of Singapore.

That compares with 1 percent for coastal flooding and 9 percent for floods caused when urban drainage systems can’t cope with heavy rainfall.

Those properties could face some $110 billion in excess costs by the end of the decade, without investments in adaptation infrastructure.

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Article Details

Author / Journalist: Bloomberg News

Category: BusinessStartups

Markets: PhilippinesSingapore

Topics: Estate Costs Physical Risks Climate Percent Report 2050 Real Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 12:33:25 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 335 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 22706568

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 27 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #37

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