Dubai offers a unique sustainable real estate model leading the region and among the best globally, Invest-Gate reports, citing Walid Al Zarooni, CEO of W Capital.
The emirate is pioneering technologies and innovation enhancing value and establishing standards to support the rapid transformation of buildings over 10 years to zero carbon footprints Al Zarooni added.
Sustainability demands fundamental changes as innovations become normal, so anticipating future standards and adopting best practices helps achieve UAE goals, he noted.
Dubai will export advanced emissions-reducing technologies, making it a regional hub, Al Zarooni said. Property is key to plans, responsible for about 40% of emissions and a priority at COP28 climate talks ending 12 December.
Developer compliance with standards will boost demand for green units and attract foreign investment, he said. Reducing energy consumption through optimization and renewable supply is crucial to a net-zero future.
Sustainability has two parts – green buildings and retrofitting existing structures. It’s prominent for mitigating climate change and future investments, Al Zarooni stated.
Converting to green provides owners the opportunity to optimize energy use, explore renewables and attract sustainability-oriented investors as growth puts pressure on others.
The trend means owners, developers and tenants will rebalance portfolios in line with plans to benefit from savings under sustainable systems, he said, adding discussions at COP28 will radically change approaches.