UAE Developers Capitalize on Sustainability to Drive Value in Real Estate
In a groundbreaking revelation, new data has shown that 70 percent of investors are willing to pay premiums for green facilities, giving UAE developers a golden opportunity to add value to their properties through sustainability.
Consumer Demand for Sustainability on the Rise
Property Finder’s latest paper highlights the increasing consumer demand for sustainability in community design, with a strong preference for Leadership in Energy and Environmental Design (LEED) certification. LEED is a globally recognized green building rating system that promotes healthy, efficient, and cost-saving green buildings.
Sustainability Driving Success in UAE Real Estate Sector
Amidst a surge in diversified demand and record-breaking transactions in May, sustainability has emerged as a leading factor driving these demands in the UAE’s real estate sector. Cherif Sleiman, Chief Revenue Officer at Property Finder, emphasized the importance of sustainability in the industry’s growth trajectory.
Opportunities in Eco-Conscious Living
Louise Heatly, Owner and Managing Director at Exclusive Links Real Estate, highlighted the unique selling point that sustainability offers to developers. She noted that overcoming challenges through education and innovative financing models could pave the way for a more sustainable future in real estate.
Government Initiatives and Future Cities
The government’s initiatives, such as Dubai’s Clean Energy Strategy 2050 and Abu Dhabi’s Vision 2030 plan, are aimed at creating future cities that prioritize sustainability and livability. Kika Pavese, Managing Director at MD Real Estate, emphasized the importance of a collaborative approach to achieve sustainable housing in the UAE.
Rise in Consumer Interest in Green Living
Kika Pavese also noted a significant rise in consumer interest in green living, highlighting the shift towards sustainability among residents and investors. The UAE’s embrace of renewable energy opens doors for innovative solutions like solar-powered homes and sustainable building materials.
Impact of Blue Residency Visa on Real Estate Market
The introduction of the Blue Residency Visa by the UAE government is seen as a game-changer for the real estate market, attracting a demographic seeking long-term stability and investments in sustainable living. This initiative is expected to increase the demand for sustainable properties and drive international investment into the capital.