Social Value is a broad and complex concept but can generally be described as "the contribution of activities to social, economic and environmental wellbeing." The real estate and development industry has a significant influence on social value creation by shaping human activities directly and indirectly, through real estate and infrastructure investment, development, operation and management.
COCREATIF specialises in helping real estate and development sector organisations, both in public and private sectors, optimise their contribution to social value creation throughout the development lifecycle. In particular, we focus on social aspects, such as wellbeing, equity, social cohesion and cultural identity, which are difficult to quantify and to account for when making decisions in investment, development and management of buildings and places.
This requires a "place-based" approach that is tailored to local needs and vision, as well as each organisation’s missions and aspirations. Our support addresses three key areas for change - Strategy, Operation and People - as described below.
How does your business relate to social value? What social impact does your work make and how can they be optimised? How can the “S” of ESG be addressed? What benefit will there be for your business in return?
Social value consideration is not only desirable but essential for businesses to stay relevant and to identify future opportunities.
We assist developing your social value strategy that sets out social value aspirations and a roadmap for change management.
How do you incorporate social value considerations in decision-making? How do you communicate your contribution to social value creation?
We co-develop with you a social value framework, which sets out outcome objectives, KPIs and metrics, for a specific development / asset, asset type or portfolio.
The framework is designed to help align all key decisions with social value aspirations and project-specific outcome objectives.
How do you embed social value creation in your business? How do you build capacity within your organisation? How do you attract talents to grow your business?
Transition into a business that thrives while creating positive social impact requires a cultural shift and capacity building within the organisation.
We support change management through:
engaging employees in the process of strategy and framework development
tailored capacity building programmes.
We work with clients across sectors through the whole lifecycle of the built environment.
Below is a summary of benefit and applications of our service in different business areas.
Better liveability / prosperity
Social return on investment
Effective public services
Local plans and area strategies
Planning application appraisal
Public - private partnership
City ranking, liveability / prosperity index
Low-risk stable income
Social / political risk mitigation
Social due diligence
Local needs analysis
Social impact, social value, ESG strategies
'Place-based' investment strategy development
New investment product development
Efficient planning process
Effective stakeholder communication
Development brief / proposals
Design option assessment
Enhanced socio-economic impact assessment
Performance monitoring (POE) strategy
Stable income from leasing
Tenant attraction / retainment
Operation / maintenance cost saving
Performance monitoring and reporting