Dubai Real Estate Leading the Sustainability Movement

Dubai Real Estate Leading the Sustainability Movement

The UAE’s real estate market is projected to reach a staggering $710 billion by the end of 2024. Embracing sustainability is becoming increasingly crucial for Dubai’s real estate industry, aligning with the ambitious goals outlined in the UAE Net Zero 2050 and Dubai 2040 Urban Masterplan.

Dubai stands as a global leader in sustainability, ranking third worldwide with over 400 projects certified by LEED. This commitment is seen as vital for future-proofing the nation’s real estate market against environmental challenges.

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Madhav Dhar, Chief Operating Officer and founding member of ZāZEN Properties, emphasizes upcoming developments’ focus on minimizing environmental impacts through energy-efficient buildings, sustainable design, and construction methods.

Residential projects in Dubai prioritize natural light, employ thicker concrete slabs for insulation, integrate smart technology, energy-efficient appliances, and even utilize renewable energy sources like solar panels. These initiatives align with the UAE’s extended Year of Sustainability until 2024.

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Certified “green” buildings command higher premiums in Dubai, fetching five to ten percent more than conventional buildings. This trend underscores the growing demand for sustainability, driven by factors encompassing social, economic, and health considerations.

The UAE targets a 40% increase in energy efficiency and a 56% reduction in emissions from 2019 levels by 2030. Alida Saleh, Head of Sustainability – MEA at JLL, highlights the nation’s transition towards a “Climate Aware” phase, fostering climate mitigation and adaptation strategies to achieve Net Zero by 2050.

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Over 80% of UAE residents advocate for prioritizing prevention of further environmental damage. ZāZEN Properties underscores the significance of sustainability in future real estate projects, citing its potential to bolster the UAE’s GDP by approximately $1 trillion before 2050.

A UBS Global Wealth Management survey reveals that 75% of investors in the UAE foresee sustainable development as the norm by 2030. This shift is reflected in the burgeoning interest in environmentally conscious developments, with 93% of investors prioritizing longevity over traditional return on investment metrics.

Developers focusing on sustainable, community-centric projects with top-notch amenities are poised to reshape the UAE’s real estate landscape. Such initiatives not only align with regional and global green objectives but also contribute significantly to the country’s economy.

With sustainability taking center stage, Dubai’s real estate sector is poised for a transformative journey towards a greener, more resilient future.

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