Sustainable urban growth and proliferation of modern residential communities, enhanced by luxury living elements, have led some economists to predict that UAE real estate prices will continue to climb. This has attracted significant international investment. As a result, there is a pressing need to promote new housing solutions that are both sustainable and affordable.
A sustainable and secure real estate environment is one of the UAE’s top priorities as it works to create a green economy and achieve long-term growth. The need to improve and conserve resources, such as clean air, water, energy and land, motivates people to make a difference. Transformative, long-term, environmentally friendly technologies are unquestionably essential if the government wants to fulfil these goals.
“Environmentally sustainable construction looks at the life cycle of the entire project,” Zazen One CEO Madhav Dar told TRENDS in an interview.
The whole process from the minute of designing the building, putting up the construction plans in terms of materials until the demolition is the responsibility of a sustainable property developer, he said.
Dar explained: “Basically, we reduce carbon emissions through the entire lifecycle of the construction project.”
He added: “Urban cities account for about 40 percent of carbon emissions, so the real estate industry can be the biggest driver for setting standards to lower these emissions… Planning sustainable construction properly is essential”.
Challenge remains
There will be an increase in demand for environmentally-friendly cities in the future amidst technology developments and rising awareness of global warming risks.
However, Dar considers it hard to balance sustainable developments and what people want in the market, especially when it comes to pricing. His vision aims to do things the right way, get the needed certifications and prove the results by reducing carbon emissions, which will surely attract buyers.
Regarding the challenges, Dar only sees one, which is creating a unified, sustainable guideline for all of UAE. After that, educating developers, contractors, and users is strictly needed since “they need to understand that they’re contributing positively by wanting more sustainable living options.”
Zazen One, a sustainable property development firm, has a green plan starting from the design stage; their buildings are globally LEED certified. In addition to the green services, it provides such as re-using water in the irrigation system, waste disposal management, construction materials’ disposal, solar systems on the roof, and many more.
Dubai market
The real estate market in Dubai had a 65 percent increase in the number of transactions and a 71 percent increase in value in 2021, compared to 2020.
Moreover, the market accomplished 72,207 new investments in 2021 worth AED 148 billion. This attributed to:
73.7 percent increase in the number of investments.
65.6 percent growth in the number of investors.
100 percent boost in the value of investments compared to 2020.