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Journal article

The dimensions of real estate which begin as spatial within time added, and the time being includes ecological and economic self-history besides the sociality with cultural capitalized values influenced by technology and ethics. The aim of this paper, is to discuss the philosophy of value and valuation methods described for sustainable real estate development within its dimensions introduced here as ΣSoCulTΞ (Σ stands for eco-system, economic and ethics; SoCulT stand for socio-cultural values and T also for technical, and Ξ is history which stands also as a base of first three concepts) which the environment built by Anthropocene view. Built environment, in a way, is strategically designed by the construction industry, which is shaping and re-shaping the environment, which has the most powerful influence on the "economic capital and environment" in terms of adding value to the real estate leverage in the significance of genius logi. The so-called sustainable real estate has to power the highest and best use with functionality, energy efficiency, resource intensity, environmental compatibility, health, socio-cultural aspects, life cycle cost and technical quality to measure value/earning/worth. Value of sustainable real estate development, composed of the architectural design of built environment within sustainable architectural principles, approaches, constructional criteria, and methods. The evaluation of this composition includes, the investment on potential idea pending the realization of real estate, which is called earned capital, and the captured value as intangible assets at any stage of life-cycle of the real estate is also called earning/worth. The dimensions which are hidden in the facts of development of sustainable real estate valuation design which are captured in the ΣSoCulTΞ will be discussed by comparison as the method of sustainable architectural design, application, and life-cycle of a real estate and its valuation principles. Comparing the principles both the architectural design includes the engineering projects and the way of real estate valuation, we as designers may lead also the strategical perspective of economic investment. As a conclusion, the possible cross-info flow of these approaches has to become the shared values in the strategical planning, flow from concept to concept to keep the dimensions of real estate development in the sustainable reality.

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