SUSTAINABILITY ALL GOOD THINGS ARE GREEN
In the light of global climate change, there is an increasing need for the real estate sector to employ sustainable practices. In the UAE, Abu Dhabi seems to be leading the way.
Abu Dhabi Golf Course
of real estate in relation to climate change. Events such as World Eco Construct, an international exhibition focusing on sustainable design and construction held in conjunction with Cityscape Abu Dhabi last month, demonstrate the increasing importance of sustainable real estate development in today’s market. Despite benefitting the environment, a fair question to ask is whether
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going green also carries financial benefits. Real estate specialist Cluttons recently released its green report on sustainable building in the UAE, indicating that green buildings indeed represent economically viable options for the region. “Energy efficiency improvements are a direct and relatively simple way
to reduce the carbon footprint of real estate. Steps taken to measure and monitor energy consumption can lead to efficiency improvements that translate into real economic savings, not only through a decrease in operating expenses, but also the increase in value associated with an increase in property level revenue,” said Jonathan Fothergill, Director of Cluttons UAE Valuations. According to Cluttons, benefits for investors in green buildings include
lower operating costs, improved marketability, longer useful life-spans and more stable cash-flows. If controllable expenses, such as energy use, are decreased, this could lead to an increase in net income for the landlord by 2 – 3 per cent, the report said. In the UAE, governments are increasingly recognising the importance of sustainability efforts for the region. In 2008, the Abu Dhabi Urban Planning
n an age where the effects of global warming form part of everyday public debate, it is indispensable to discuss the role and responsibility
Council (UPC) launched Estidama (Arabic for sustainability), an initiative to make Abu Dhabi a model for sustainable urbanisation in the region. As part of Estidama, the so-called Pearl Rating System is a mechanism which stipulates that new buildings must meet strict sustainability requirements in respect of energy and water consumption efficiency to receive approval for construction. According to the Cluttons report, UPC is currently drawing up guidelines
for more efficient water, lighting, cooling and other fixtures that will make existing structures in Abu Dhabi more sustainable. Two buildings in the capital have already been recognised for their sustainability efforts: Abu Dhabi Islamic Bank and the Sowwah Square have been awarded the LEED (Leadership in Energy and Environmental Design) pre-certification for Gold Rating from the US Green Building Council, a non- profit organisation dedicated to sustainable building design and construction. Te hospitality sector has been recognising the importance of
environmental sustainability for some time, with major hotels in the luxury market receiving Green Globe Certification, the global travel and tourism industries’ certification program for sustainable tourism. In the UAE, Green Globe Certification has been awarded to Desert Islands Resort & Spa by Anantara, Jumeirah Emirates Towers, Moevenpick Hotel Deira, Te Palace Old Town and Park Regis Kris Kin Hotel, just to name a few. Te UAE’s governments have set a target of reducing the country’s
carbon footprint by 120 % over the next three years. “Our vision is to be the prime driver in facilitating the UAE’s prominent position as a global leader in ecological footprint reduction of the built environment by 2015.” (Emirates Green Building Council) l
30 I CITYSCAPE I MAY 2012
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