ECONOMIC CHALLENGES & OPPORTUNITIES OF SUSTAINABLE CONSTRUCTION IN PAKISTAN: A LIFE CYCLE COSTING PERSPECTIVE

Abstract

Over the past decade, Pakistani policymakers, academics and few forward-thinking developers have focused more on sustainable development. Still more people know about the sustainable building technologies, they are underutilized. Sustainable building is exclusive, needs technical knowledge and lacks market incentives, thus many people do not care. The Pakistani developers & investors believe that sustainable building methods will make projects riskier, more expensive, take longer to approve, and tougher to fund, especially since banks do not encourage green construction. The life cycle costing (LCC) can highlight sustainable buildings' long-term economic, environmental, and operational benefits. This study examines the Pakistani sustainable building literature on life cycle costing's benefits, drawbacks & issues. Despite these cases, hesitation about extensive capital expenditures, long-term savings, market value premiums, and following the rules prevents people from using them. For developers and banks to invest in sustainable development, Pakistan green construction projects need economic viability assessments. These evaluations clarify long-term economic benefits, reduce anxiety as well as increase construction industry demand for the sustainable development approaches.