Risk and Value in Real Estate under the Circular Economy
Circular Homes presents Morgana: a benchmark in sustainable residential development in Caldes d’Estrac
15 de July de 2025
How do we measure real value in the circular economy?
That was the central question of the event held on 3 and 4 June at Espacio Bertelsmann (Madrid), organised by Grupo Construcía with the support of GBCE. The event marked the starting point of a transformative proposal: to redefine how we assess risk and value in the real estate sector.
After more than a decade adapting its business model to the circular economy, Grupo Construcía identified one of the sector’s most common obstacles: how to make the value of circular construction tangible when compared to the traditional linear model.
With participation from representatives of financial institutions, property valuers, professional associations, funds, manufacturers and real estate managers, the discussion on 3 June introduced the experience already under way in the Netherlands: the Circular Risk Scorecard.
This methodology, developed in collaboration with the Circular Finance Group, proposes new criteria to be included in risk evaluation frameworks.
Also presented was the initiative The New Normal for Buildings (TNN), which seeks to establish a shared language across the entire sector to make circular construction the new standard.
These two initiatives converge in the CRES (Circular Real Estate Scorecard), a programme currently in development which aims to connect circular risk assessment with a consensus-based definition of circular construction, as proposed by TNN. The Spanish working group will take part in the consultation phase of the indicators proposed in the Netherlands, helping shape and adapt the framework to the Spanish context.
The beginnings of a practice community
The main goal of the event on 3 June was to define the challenge and outline the starting point for a local working group. On 4 June, a smaller group met with Dutch experts to delve deeper into the potential adaptation of the TNN and CRES frameworks to our local context.
With commitment, collaboration and the will to drive real change, eight organisations – including banks, construction firms, real estate developers, consultancies and valuers – focused on outlining the core objectives of the working group.
Over the summer, the group will work on a roadmap to consolidate the initiative and ensure that efforts to build in harmony with planetary boundaries are properly valued.
Interested in join?
We invite anyone interested in contributing to this initiative to get in touch. The requirements:
- Connection to the real estate value chain
- Ability to influence within your organisation
- Commitment to the transition towards a circular economy
If you meet these conditions and want to be part of a long-term effort to make circular construction the new normal, contact us: 📩 comunicacion@grupoconstrucia.com
