Sunselect Property Group Case

1. Introduction

Sunselect Property Group (SPG) has been in the real estate industry for over 50 years now. The main focus has been the development of commercial and residential properties. It is based in Sydney, NSW which has may be considered the business capital of the world. The group has been a successful property developer but has recently suffered damaging allegations in its projects. The reason is due to the demand for the use of sustainable practices in real estates that the company has not fully implemented in the recently completed projects.

This has impacted negatively on the image of the company to its clientele. The corporate and social profile has been dented and consequently the effects have been seen in the profits recorded.

As of 2016, the number of property companies had risen to over 245,000 and had made profits of approximately $250billion. The few largest companies contribute more than a third of the total revenue for the industry (Kirkulak, 2010). It is a delicate industry that is sensitive to the economic state, population growth and interest rates. This industry has been dived into brokerage, leasing and management.

This report will discuss the corporate social responsibility performance of the Sunselect Property Group and analyse the progress. An overview of the Greensfields Development that will be an effort to sustainable living through energy efficient and affordable housing. This report will finalize by giving recommendations to achieve its

This has allowed them a level of immunity and choice of show-marking their appearance in the market. This has not given any incentive for engaging in CSR and the companies that have engaged it have been coerced by market drivers such as regulations or laws. Apart from that, companies are conflicted in the application points of CSR such as how to practice it, philanthropy and voluntary among others.

In the past decade, the real estate industry has made efforts in recognizing the need for inclusion of the society in the development process. This was previously seen as a stunt by other corporates especially in the software industry and government agencies. Additionally, the move has proven effective in the reducing the unethical appraisal practices and ethics. An accountable system of real estate consideration reduces the danger involved in property dealings.

The core CSR characteristics are managing externalities, multiple stakeholder orientation, socio-economic alignment, philanthropy, voluntary, and practices and values (Crane, Matten and Spence, 2013). For real estate developers, the major target area is the practices that would lead to sustainable living. In addition to the annual allocation to CSR activities, the company should integrate the development project. For example, the Greenfields development has to be climate clever and ecofriendly.

2.2 Sustainable