The focus on sustainability-related issues has gained prominence in recent years, more so in the wake of the COVID-19 pandemic that has placed a growing emphasis on social well-being. With real estate occupying a central place in the built environment, developers, investors, and financiers are increasingly being called upon to play their part in achieving more sustainable outcomes. This chapter derives from a desk review of many academic and industry material on sustainable real estate investment, with a specific focus on the opportunities and challenges in developing markets. We primarily work within the ESG framework and utilise the NVivo software to systematically analyse a large volume of textual information. Our analysis of the literature suggests that debt instruments such as green bonds and sustainability bonds have huge growth potential in developing countries. There is a growing realisation that the ESG and sustainability debate should consider the specific socio-economic context of developing markets.
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