How companies are using buildings to do good: a study of New Zealand property trusts

Shehani Gamage, Abdul-Rasheed Amidu and Deborah Levy

ERES from European Real Estate Society (ERES)

Abstract: With a growing emphasis on sustainability and corporate social responsibility (CSR) in the property sector, managers are increasingly challenged by the integration of financial performance with social impact. This study employs interviews with managers from listed property trusts in New Zealand to investigate their strategies for embedding social value into commercial property initiatives. The findings reveal that managers acknowledge the advantages of socially responsible practices such as heightened tenant satisfaction, improved community relations, and financial benefits, including enhanced marketability and reduced vacancy rates. The thematic analysis identifies essential strategies, including community engagement, sustainable building practices, and transparency in CSR reporting. Interviews also revealed the complexities involved in balancing the interests of various stakeholders, such as tenants, investors, and the broader community. Managers stress the importance of aligning properties with societal needs to cultivate long-term loyalty and trust, thereby enhancing reputational capital. This study contributes to the understanding of how social value is operationalised within New Zealand's listed property trust sector, offering recommendations for enhancing social value initiatives. These insights aim to inform stakeholders about the critical role of social value in fostering sustainable property management.

Keywords: CSR; Property Trusts; social value; Tenant Satisfaction (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2025-01-01
New Economics Papers: this item is included in nep-mac
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