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- UAE’s tourism revenue tops $5 billion in first half of 2022
- UAE is the only GCC country to make the top 30 in a recent real estate sustainability survey and is on track to achieve 1,000 green buildings
Dubai, United Arab Emirates: local real estate developers, ZāZEN Properties shares its insights into the latest trends in sustainability efforts in the UAE real estate sector, which has continued to grow over the past year.
Real estate construction accounts for about 40% of primary global energy consumption, and research shows that building energy-efficient and sustainable structures can reduce energy demand by 50%.UAE is the first Arab country to sign the agreement The Paris Agreement is a global commitment to reduce emissions to curb global warming, and the government has demonstrated its role as a regional leader and is poised to make a big difference in energy reduction and carbon footprint.
The UAE has increased the development of green buildings as a viable real estate approach to promoting sustainable development. This is achieved through the gradual adoption of energy management and retrofit programs, green roofs and smart buildings, among others. These efforts paid off, as a recent survey on sustainable buildings ranked the country 14th with 869 green buildings, making it the only GCC country to make the top 30; Qatar, Saudi Arabia, Kuwait and Oman respectively Ranked 32nd, 54th, 69th and 70th.
Sustainable tourism in the UAE is also on the rise. Last year, Dubai ranked the highest among the country’s seven emirates in attracting foreign investment in tourism, with the metropolis welcoming 7.28 million tourists and grossing $1.7 billion in revenue.UAE maintains this trend in first half of 2022 as its tourism revenue exceeds US$5 billion[1]. Initiatives like this Ras Al Khaimah’s $500 million ecotourism plan will help
Continue to attract investments that will contribute to the overall economic development of the UAE and develop the real estate landscape in the country.
The MENA region places greater emphasis on promoting sustainable tourism through the development of sustainable cities. Saudi Arabia’s $500 billion zero-carbon city of Neom is a classic attraction that could encourage investment, increase tourism, grow the economy and lead to a more sustainable future. Qatar’s Downtown Doha project is playing a key role in making existing cities more sustainable while expanding the scope of sustainable real estate.
Madhav Dhar, Co-founder and COO of ZāZEN Properties Said: “Climate action is a catalyst for economic growth. There is an increasing emphasis on this in the real estate sector in the UAE, and it is both timely and beneficial. Through local initiatives such as Dubai City Master Plan 2040 and Net zero 2050 is approaching in the UAE and the increased development of sustainable real estate will contribute to a more prosperous future, not only for the country but globally through initiatives such as the Paris Agreement. According to a recent Knight Frank survey, the majority of Middle East respondents admit that less than 25% of their global investment portfolio is sustainable; 75% affirm that a net zero target will play an important role in future real estate industry decision-making . Since our entry into the real estate market in the UAE, we have emphasized that sustainability is at the heart of our development and understand that the future is now. We look forward to continuing to contribute to the country’s green agenda and to go further in well-being integrated developments such as our upcoming ZāZEN Gardens project in Al Furjan. Ultimately, our goal is to help people live better and help Dubai become the best city in the world. “
ZāZEN Properties hands over its flagship project, ZāZEN One, January 2022; it sold out within months and won Sustainable Real Estate Project of the Year at the 2022 Sustainable Innovation Awards and Best Residential Development at the 2022 Arabian Real Estate Awards prize. The homegrown brand has since started building its latest development, ZāZEN Gardens, in Al Furjan. The limited sale will begin in the first week of November 2022 in collaboration with their main selling partner, One Brokerage Group (OBG). OBG is a leading real estate agency offering unparalleled professional, transparent and personal service in the UAE. For more information, please call +971 50 170 9376 or the WhatsApp team.
About ZhāZen attributes:
Launched in 2018, ZāZEN Properties is building unique sustainable residential developments in established communities in Dubai, catering to the needs of mid-market consumers and offering “communities within buildings”.
ZāZEN Properties’ flagship JVT development, ZāZEN One, was delivered in January 2022 and has been nominated several times for its design and sustainability efforts, most recently at the 2022 Sustainability Innovation Awards and Best Sustainable Real Estate Project Residential Development at the 2022 International Property Awards in the UK for Sustainable Real Estate Project of the Year. As a result, units at ZāZEN One were sold out within 6 months, with residents moving in and enjoying a host of amenities.
ZāZEN Properties continues to push the boundaries between design, sustainability, affordability and community living, with the ultimate goal of helping people in Dubai live better. Construction on the sustainable developer’s latest project is underway; off-the-plan sales at ZāZEN Gardens will begin in November 2022, with display units and a sales centre on site.
[1] https://english.alarabiya.net/News/gulf/2022/09/11/UAE-H1-tourism-revenues-top-5-bln-Vice-president
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