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Dubai, United Arab Emirates: UAE NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, signed a Memorandum of Understanding (MoU) with Honeywell (NASDAQ: HON) for Honeywell Forge Connected Services and The agreement supports the companies’ shared strategic objective of driving sustainable development through energy-efficient building technologies, harnessing digital transformation and innovation, while supporting the UAE’s Net Zero 2050 strategic plan.
The two-part Honeywell Forge Connected Services agreement will support the UAE NBD Group’s sustainability efforts across its building assets by deploying Honeywell’s off-the-shelf solutions that increase efficiency and help Reducing the carbon footprint of properties managed by UAE NBD Facilities Management. This will help the banking group achieve its goal of supporting the UAE’s Net Zero Strategic Initiative by 2050 as it sets a new digital benchmark.
As part of the agreement, Honeywell will deploy its enterprise Performance management solution Honeywell Forge has helped the group improve energy consumption and operational efficiency at NBD’s building assets in the UAE, while enhancing the living experience of its facilities. The Emirates NBD Group properties span 5.77 million square feet, including 2,530,107 square feet of residential space and 2,732,369 square feet of office space, as well as 509,867 square feet of retail space.
“As part of our ongoing commitment to sustainability, we have been at the forefront of adopting next-generation solutions to develop regional innovation best practices. Accelerating the pace of digital transformation is a key enabler in achieving the national SDGs, We look forward to encouraging our customers and partners to achieve their goals and reduce their carbon footprint. By working with Honeywell, we will positively impact a range of projects and improve operational and energy efficiency,” Ahmed AlSheryani, Chief Executive Officer and Executive Vice President, Emirates NBD Real Estate and Head of Procurement and Real Estate Services, Emirates NBD.
The MoU will also provide Honeywell’s off-the-shelf cloud-based building technology solutions to Emirates NBD’s customers to help achieve sustainability goals including energy efficiency and carbon reduction. Honeywell solutions will help customers increase energy savings, track carbon emissions, and reduce operating costs through improved energy and water management. In addition, Honeywell’s software platform will provide real-time analytics to achieve optimal performance efficiency and maximize uptime to positively impact the bottom line while improving the comfort of building occupants.
“The partnership with Emirates NBD will help our clients achieve their sustainability goals through digital transformation and access to green financing. Our partnership with Emirates NBD will help reinvigorate energy projects with limited capex financing and further Develop sustainability in buildings across the country while supporting the UAE’s Net Zero 2050 strategic initiative,” said Mohammed Mohaisen, CEO and President, Honeywell – Middle East and North Africa High Growth Region.
“Emirates NBD is an established leader in innovation and we are proud to partner with it to support its sustainability goals and enhance the passenger experience,“ said Kevin Dehoff, CEO and President of Honeywell Connected Enterprise.
The UAE Strategic Initiative for Net Zero Emissions by 2050 is a national initiative to achieve net zero emissions by 2050.
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About Emirates NBD
Emirates NBD (DFM: Emirates NBD) is the leading banking group in the MENAT (Middle East, North Africa and Turkey) region, operating in 13 countries and serving more than 17 million customers. As of June 30, 2022, the total assets are AED 711 billion (approximately US$ 193 billion). The group has operations in the UAE, Egypt, India, Turkey, Kingdom of Saudi Arabia, Singapore, UK, Austria, Germany, Russia and Bahrain, and representative offices in China and Indonesia, with a total of 900 branches and 4,086 ATM/SDMs.
Emirates NBD Group offers a range of financial products and services to customers, businesses, governments and institutions, including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury and brokerage business.
The Group is a major player in the global digital banking industry, with 94% of financial transactions and requests taking place outside its branches. The group also operates Liv., a millennial lifestyle digital bank. Emirates NBD is an active participant and supporter of key development and sustainability initiatives in the UAE, including financial literacy and disability inclusion. Emirates NBD Group is the Premier Partner and Official Banking Partner of Expo 2020 Dubai.
For more information on Emirates NBD, please contact:
Ibrahim Sovedan
Senior Vice President
Supervisor – Group Corporate Affairs
Emirates NBD
e-mail: ibrahims@emiratesnbd.com
Tricia Kaur
asda’a bcw; Dubai, UAE
e-mail: Tricia.Kaul@bcw-global.com
About Honeywell Building Technologies
Honeywell Building Technologies (HBT) is changing the way every building operates to help improve the quality of life. We are a leading building control company with operations in more than 75 countries supported by a global network of channel partners. Commercial building owners and operators use our hardware, software and analytics to help create safer, more sustainable and more efficient facilities. Our solutions and services are used in more than 10 million buildings worldwide.
Honeywell (www.honeywell.com) is a Fortune 100 technology company providing industry-specific solutions including aerospace products and services; building and industrial control technologies; and global performance materials. Our technologies help make our world smarter, safer and more sustainable by helping to connect aircraft, buildings, manufacturing plants, supply chains and workers more closely.For more news and information from Honeywell, visit www.honeywell.com/newsroom.
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