Dubai Ranks Third Globally with 400+ LEED Certified Projects
Dubai Ranks Third in Global Cities with Over 400 LEED-Certified Projects
Dubai’s real estate sector is making significant strides in sustainability, with the city currently ranking third globally in terms of the number of projects with LEED certification. The UAE’s real estate market is on track to reach $710 billion by the end of 2024, and Dubai’s focus on sustainability aligns with key mandates set out in the Dubai 2040 Urban Masterplan and UAE Net Zero 2050.
Madhav Dhar, COO of ZāZEN Properties, emphasized the importance of energy-efficient buildings, efficient design, and sustainable construction methods in mitigating negative environmental impacts. Projects that prioritize natural light, insulation, smart technology, and renewable energy sources like solar panels are contributing to a greener future.
A recent study by JLL revealed that buildings with higher levels of green certification can command premium prices in the market. Green buildings in Dubai can fetch premiums of 5% to 10% compared to other major markets like London, Asia, and the US and Canada.
The shift towards sustainable development is driven by increasing demand for environmentally friendly buildings aligned with environmental, social, and health considerations. The UAE aims to reduce emissions by 56% by 2030 and improve energy efficiency in the construction sector by 40%.
Investors are also showing a strong interest in sustainable developments, with 75% of UAE investors believing that sustainable projects will become the norm by 2030. This shift in mindset towards sustainability is expected to have a positive impact on the UAE’s real estate sector and economy in the coming years.
With developers focusing on sustainability and green practices, the UAE is poised to achieve its carbon emission reduction targets and create a more sustainable real estate landscape for future generations. The push towards sustainability not only benefits the environment but also has the potential to increase the nation’s GDP and attract more investment in the long run.
