Global Property Sector Pledges Ethical Behaviour

• 1 February 2017
• Property Focus
• 1068 Views

The first ever global set of ethical standards for professionals working in the construction and property sectors was signed by a coalition of more than 100 professional bodies in December.

Organised by the International Ethic Standards (IES) Coalition, the standards aim to be universally applicable and ensure global industry professionalism.

The standards also aim to attract more investment by reducing perceived and real risks in the real estate and construction industries.

The standards are: accountability, confidentiality, conflict of interest, financial responsibility, integrity, lawfulness, reflection, standard of service, transparency and trust.

The economics make sense. According to property firm Savills, global real estate assets reached a value of USD217 trillion in 2015 which compares with global GDP of about USD80 trillion.