and climatic change: A review
FEATURED PAPER
By Christian Osita Ifediora, PhD
Department of Estate Management,
Delta State University of Science and Technology Ozoro
Nigeria
and
Henry Chinedu Halim
Department of Estate Management,
Delta State Polytechnic Ogwashiuku
Nigeria
Abstract
Property development otherwise referred to as real estate development or investment appears to be facing challenges in recent times due to the effects of the twin challenges of global warming and climatic change. No thanks to man’s activities on land and exploration to natural resources. Exploration of natural resources and human activities have continued to impact the ecosystem which has created great concerns. This paper reviewed literature on property development amidst global warming and climate change. A number of issues were raised including concern about how investors’ confidence can further be secured on real estate development. With the above mind, there are initiatives to reduce the impact of flooding and other weather events via incorporation of green infrastructure and storm water management, build resilient structures that can withstand extreme weather events, incorporate green spaces into the landscape, conduct risk assessments, create emergency plans, build infrastructure that can withstand extreme weather events, use recycled materials, utilize green spaces, and minimize disruption of natural habitats to reduce the impact of development on the environment, use drought-tolerant landscaping, and incorporate green infrastructure such as rain gardens.
Keywords: Climatic change, Development, Global warming, Land and Property
1.0 Introduction
Land which has been described by various authors has several meanings to different professionals and individuals alike. Land is believed to provide the principal basis as a source of human livelihoods as well as well-being which include the supply of food, freshwater and multiple other ecosystem services, as well as biodiversity, IPCC, (2019). Additionally, according to IPCC, (2019), man’s use of land is believed to affect directly more than 70% (likely 69-76%) of what is termed global, ice-free land surface (that is of high confidence). Land also is believed to be playing a critical role in the climate system. Land is seen as a source of both a sink of greenhouse gases (GHGs) and as well as playing an important role in the energy exchange, water and aerosols between the land surface and atmosphere, land ecosystems and biodiversity are endangered to ongoing climate change and weather as well extreme climate, to various extents, IPCC, (2019).
Land under which a property is developed or will be developed needs a proper or holistic approach to its management which is seen must be sustainable especially in this era of climate change and global warming. Sustainable land management will aid in reducing the defeatist effects of multiple stressors, which include climate change, on ecosystems and societies (high confidence), IPCC, (2019).
Climate change has the potential to drastically affect property development in many ways. Warmer temperatures can lead to increased flooding, sea level rise, and other extreme weather events. These events can damage infrastructure, decrease the amount of usable land for development, and increase the cost of construction due to rising materials costs. Warmer temperatures can also cause a decrease in air quality, leading to more health problems for occupants of the property. Additionally, the increased risk of natural disasters may lead to more stringent building codes and regulations, which could increase the cost of development and limit the types of projects that can be undertaken. Finally, changing climate patterns can also lead to a decrease in demand for certain types of properties, such as those located in coastal areas that are particularly at risk of flooding or sea level rise.
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How to cite this paper: Ifediora, C. O., Halim, H. C. (2023). Property development amidst global warming and climatic change: A review; PM World Journal, Vol. XII, Issue V, May. Available online at https://pmworldlibrary.net/wp-content/uploads/2023/05/pmwj129-May2023-Ifediora-Halim-Property-development-amidst-global-warming-and-climatic-change.pdf
About the Authors
Dr. Osita Ifediora
Ozoro, Delta State, Nigeria
Dr. Ifediora holds National Diploma in Estate Management from Federal Polytechnic Oko. B.Sc. in Estate Management at Nnamdi Azikiwe University Awka (UNIZIK). M.Sc. Estate Management (Project Management) and PhD in Estate Management with specialisation in project management. Worked at Paul University Awka as Technical Officer (Estate), Assistant Lecturer, Department of Estate Management, Caritas University Amorji Nike, Emene Enugu Nigeria, Department of Estate Management – Ajayi Crowther University Oyo and now Department of Estate Management, Delta State University of Science and Technology Ozoro.
He is an associate member of the Nigerian Institution of Estate Surveyors and Valuers (ANIVS), Registered Estate Surveyors and Valuers (RSV). He has published over 27 journal articles, textbooks, conference papers and as well book chapter. Dr. Ifediora has reviewed articles for several international journals including elservier. He is a peer reviewer of International Journal of Research and Scientific Innovation (IJRSI) and International Journal of Latest Technology in Engineering, Management & Applied Science-IJLTEMAS. Dr. Ifediora has attended many academic and professional conferences, delivered lectures/presented papers. Served as resource person in Osun State NIESV MCPD 2022. He served as a member of Oyo State NIESV 2022/2023 MCPD committee. He is a principal consultant, Osita Ifediora and Associate – A real estate firm. Dr. Ifediora can be contacted at ositaifediora@gmail.com
Henry Chiedu Halim
Ogwashiuku, Delta State, Nigeria
Henry Chiedu Halim holds a Bachelor of Science (B.Sc) Estate Management from Enugu State University of Science and Technology (ESUT), and a Masters of Science (M.Sc) from University of Nigeria, Enugu Campus (UNEC).
Halim Henry Chiedu belongs to many national and international professional bodies. A seasoned academic researcher and professional, he currently lectures in the Department of Estate Management, Delta State Polytechnic Ogwashi-uku.
He has headed the Department for several years. He is an associate member of the Nigerian Institution of Estate Surveyors and Valuers (ANIVS) and a registered Estate Surveyor and Valuer (RSV).
