OVG Real Estate contributes to MADASTER and the material passport

OVG Real Estate contributes to MADASTER and the material passport

OVG Real Estate has signed an agreement with MADASTER, the new standard in the real estate sector. By generating a digital material passport automatically in MADASTER for every property, a building culture without waste can be facilitated. This was reason enough for OVG to contribute to the development of this independent public platform. MADASTER is available to private individuals, companies and government agencies and developed under the supervision of the Madaster Foundation.

The material passport is the result of a desire to promote the use of reusable materials and to invest in smart designs that support circularity and reduce waste. The material passport documents all building materials used: where and in what quantity, how they are incorporated or installed and their financial value over time. A detailed overview of the material value of a building can now be obtained for the first time. Since materials should never go to waste in our circular economy, OVG Real Estate has decided to become a Kennedy at Madaster and contribute to the development of the material passport.

Kadaster for Materials
Materials and buildings are documented in MADASTER, just like allotment and land ownership is in the Kadaster, The Netherlands’ Cadastre, Land Registry and Mapping Agency. Before long, everyone will be able to create a material passport for their building in MADASTER. This passport will also contain information on the quality and origin of the materials used and their current location. This greatly simplifies recycling during renovation work or the salvaging of materials during demolition work. As a result, a building becomes a documented ‘storage place’ for materials. It helps building owners, designers and builders consider entirely different aspects during the design, construction and usage phases of buildings. Lenders can also use the material passport to include the value of the materials in the total value appraisal of the property. The owner benefits from the fact that the building will no longer be written off completely because the materials maintain value, regardless of the real estate market situation. This creates a new dimension of valuation of property and promotes the circular economy.

About the Madaster Foundation 
The Madaster Foundation aims to eliminate waste, starting in the real estate sector. It has a general and public, non-profit interest, with representatives from several sectors of the economy. The organisation promotes, manages and stimulates the development of material passports via the MADASTER platform for existing and new buildings worldwide.