The Role of Sustainable Real Estate in Achieving Climate Goals in the MENA Region

The Middle East and North Africa (MENA) region is making significant strides towards achieving global climate goals through sustainable real estate projects. With almost 5,300 projects embracing LEED certification, spanning over 1.5 billion square feet in the region, the real estate sector is actively contributing to the reduction of emissions.

The need for sustainability in real estate is crucial as buildings account for a significant portion of global energy consumption and emissions. The International Energy Agency (IEA) emphasizes the importance of implementing measures to ensure that all new buildings and 20 percent of existing buildings are zero-carbon-ready by 2030.

Countries in the MENA region, such as the UAE and Saudi Arabia, are leading the way in promoting green building initiatives. The UAE has introduced green-building standards and efficiency measures, while Saudi Arabia aims to fulfill a significant portion of its energy needs with renewable sources by 2030.

Notable green projects in the region include Masdar City in Abu Dhabi, the world’s first LEED Platinum-certified mosque in Dubai, and NEOM, a futuristic city in Saudi Arabia. These projects showcase the region’s commitment to sustainability and innovation in real estate development.

In addition to commercial buildings, sustainable residential projects are also on the rise in the MENA region. Marina 09 in Qatar and Green Core in Kuwait are examples of residential buildings that prioritize energy efficiency and sustainable design principles to reduce carbon emissions and energy consumption.

The integration of sustainability in real estate not only benefits the environment but also attracts investors. Reports indicate that investors in the UAE prioritize sustainability in real estate investments, with a growing demand for sustainable properties. Foreign investors in the Middle East are also willing to pay a premium for sustainable properties, highlighting the economic benefits of green building initiatives.

Overall, the MENA region’s focus on sustainable real estate projects underscores its commitment to achieving global climate goals and building a greener future for generations to come.