Over the past few years, there has been a significant surge in the popularity of green building among environmentalists and investors. There are many investors who are willing to pay a premium for real estate constructed using sustainable technologies.
The trend towards green building is driven by a growing awareness of the need to protect our planet and reduce our carbon footprint. Moreover, green buildings offer a range of benefits, such as improved air quality, increased energy efficiency, and healthier living spaces. All of these factors have contributed to the increased demand for green buildings in recent times.[?]
The trend towards green building is driven by a growing awareness of the need to protect our planet and reduce our carbon footprint. Moreover, green buildings offer a range of benefits, such as improved air quality, increased energy efficiency, and healthier living spaces. All of these factors have contributed to the increased demand for green buildings in recent times.[?]
Green construction is not just a passing trend. It signifies a fundamental shift in how people approach economic growth and environmental sustainability. As defined by the United Nations, green construction is about being low carbon, resource-efficient, and socially inclusive. By 2030, it could generate up to 24 million jobs around the world.
Although the UAE real estate market generates around 5.5% of the country's GDP, there is potential for it to develop further as it moves towards a sustainable future.[?]
The UAE is aware of this, and as a result, environmentally focused initiatives have been implemented, most notably the Dubai City Master Plan 2040 and the UAE Net Zero 2050 program.[?]
Ajman's Commitment to Sustainability Has Resulted in Over 8,300 Green Buildings
The Ajman Municipality and Planning Department has recently reported that the emirate has achieved a significant milestone by reaching a total of 8,335 green buildings that comply with the green building standards for residential buildings. The aforementioned figure includes all the buildings completed from the start of the first phase of the green building decision, which was adopted in 2018, until the end of last year, 2023.[?]
Source: Pexels
This achievement is in line with the government's directives and reflects the methodologies adopted during the Year of Sustainable Development, which is currently in its second consecutive year, showcasing tangible positive outcomes.
Dubai Has Made Considerable Progress Towards Sustainable Development
The UAE has made significant strides in advancing eco-friendly construction practices and sustainable urban development through several initiatives, including the Sustainable City in Dubai.
According to a Dubai-based developer, 80% of UAE real estate investors now favor sustainability, and the sentiment among foreign investors is similar: 70% are willing to pay a premium for eco-friendly properties.[?]
A noteworthy example of the country's commitment to environmental sustainability is the Green Building and Sustainable Building standards approved by the UAE government in 2010. This forward-looking initiative is projected to generate savings of AED 10 billion by 2030 and reduce carbon emissions by 30%.
Previously we discussed that the Middle East construction sector has a promising opportunity to achieve its net-zero emissions target by adopting sustainable technologies. The country's commitment to green property development, backed by significant government investments, is attracting attention globally.[?]
Additionally, the UAE has been incorporating sustainability and environmental standards in its construction and real estate, with a focus on green building regulations and energy efficiency.[?] The real estate sector in the UAE is poised for continued growth and innovation as it moves towards a more sustainable future, with the potential to attract even more foreign investment and drive further development in this important sector.
Previously we discussed that the Middle East construction sector has a promising opportunity to achieve its net-zero emissions target by adopting sustainable technologies. The country's commitment to green property development, backed by significant government investments, is attracting attention globally.[?]
Additionally, the UAE has been incorporating sustainability and environmental standards in its construction and real estate, with a focus on green building regulations and energy efficiency.[?] The real estate sector in the UAE is poised for continued growth and innovation as it moves towards a more sustainable future, with the potential to attract even more foreign investment and drive further development in this important sector.
