Aroundtown Will Continue to Act to Meet the Global Warming Restriction Target, Says Deputy CEO

Regardless of what politicians decide, a real estate giant like German real estate company Aroundtown Property Holdings PLC must work and invest in order to limit global warming according to the goals decided upon in the 2015 Paris agreement, according to deputy CEO Andrew Wallis. On Thursday, Wallis spoke at Calcalist’s WeTech Berlin 2020 conference, held in collaboration with Israel’s Bank Leumi and Aroundtown.

Some may question what a real estate company is doing at such an event, but the reality is that the company’s business is based on innovation and on an ability to identify disruptions, trends, and market needs ahead of time, Wallis said. One of the primary needs is to reduce greenhouse gas emissions and reduce strain on natural resources, and it needs to be the main part of the company’s future ethos, he said.

Another issue to consider is how millennials view real estate, according to Wallis. They do not want debt or mortgages, but on the other hand, they search for a greater sense of community, he said. To understand how such changes will impact Aroundtown’s assets, the company invests in proptech and has a very diverse portfolio, he said. Different needs sometimes clash, Wallis said, referring to the limitation Berlin regulators recently placed on rent prices. At the point that investments in modern housing and technology are needed to reduce emissions, regulators pass laws that stand in the way, he said.