Majid Al Futtaim Properties first in the UAE to disclose investments in energy efficiency

Dubai, 31 October 2012 - Majid Al Futtaim Properties, the leader in ownership, development and management of shopping malls together with hotels and ‎communities in the Middle East and North Africa (MENA), has successfully completed its second annual energy conference, which was held for its employees, sister companies and suppliers, at the Pullman Hotel, earlier this month.

The conference brought together a select group of industry experts, including the Dubai Supreme Council of Energy, EWS-WWF, Global Real Estate Sustainability Benchmark (GREBS) and Jones Lang LaSalle, to discuss the company's achievements in sustainability and energy saving, and its future objectives.

For the second year running, the event provided a roundup on Majid Al Futtaim Properties' CSR achievements and spurred discussions on best practice, priorities and trends to reduce impact on the environment.

Majid Al Futtaim Properties' CO2 footprint across its mall portfolio has dropped by 7 per cent in 2011, from the same period in 2010. In 2012, Energy Management Services (EMS) conducted energy audits on 18 Majid Al Futtaim Properties projects, including 10 malls, 6 hotels and 2 office towers. Based on this information, the company is targeting a 15 per cent reduction in both energy and water consumption for 2013.

Energy reduction efforts across the company's shopping mall portfolio have resulted in a 9 per cent usage decrease and AED 24,551,741 in savings, while water consumption was reduced by 6 percent, which resulted in an additional AED 2,170,317 of savings for the company.

Majid Al Futtaim Properties' hotel portfolio demonstrated an accumulated savings of 15 per cent in energy consumption; and an 18 per cent reduction in water consumption from 2010 to Q3 2012, which equates to savings of around AED 3.5 million. The company's CSR investment across its hotel portfolio has jumped from AED 2.7 million in 2011 to AED 11.8 million in 2012, with an investment rate of return reaching 53 per cent.  

In another initiative to demonstrate its sector leadership, Majid Al Futtaim Properties introduced the 'Tenants CSR Award'. The award entails setting industry standards for both Majid Al Futtaim Properties and its tenants to reduce environmental footprint. The award will take place in the company's 2013 Tenants Annual General Meetings, and will be based on Majid Al Futtaim Properties' Green Star Rating for Sustainable Retail Fit-out and will also evaluate the CSR activities held by the tenants.

Peter Walichnowski, Chief Executive Officer, Majid Al Futtaim Properties commented:

"As the sole member of the GRESB in the Middle East, Majid Al Futtaim Properties is the first in the UAE to disclose its energy consumption and efficiency investments. Adding to our record of firsts, we work closely with the Dubai Carbon Centre of Excellence (DCCE) to become the region's first retail company to register in the United Nation's Clean Development Mechanism (CDM) under the United Nations' Kyoto Protocol. The registration will allow Majid Al Futtaim Properties to monetise its carbon emission reductions through converting the emissions across its portfolio into carbon credit certificates that are sellable at market value throughout the next ten years.

"We take social responsibility very seriously and we regard it as an integral part of our long-term success and prosperity. Our annual energy conference provides us with a vibrant platform for interactive thought exchange that will help us shape strategies and translate them into actionable initiatives for a sustainable green future," added Mr Walichnowski.

Majid Al Futtaim Properties' shopping Malls have been designed to Leadership in Energy and Environmental Design (LEED) standards, with Mirdif City Centre achieving the LEED Gold standards and Fujairah City Centre certified as LEED Silver. 

Majid Al Futtaim Properties' hotel portfolio has been recognised with a variety of green accreditations. The 'Earth Check Silver' certificate was extended to Novotel and Ibis hotels at Deira City Centre; Novotel and Ibis Hotels at Mall of the Emirates; and the Pullman Hotel at the Mall of the Emirates. Additionally, the Pullman Deira City Centre Hotel received the 'Earth Check Bronze'. Further accolades include the 2011 Dubai Green Tourism Award, which was granted to Novotel and Ibis hotels at Deira City Centre, for the 4-star hotel category, and to Ibis Al Rigga, which was ranked third for the 2-star hotel category. In 2011, the 'Green Hotelier of the Year' was awarded to Kempinski Mall of the Emirates' Director of Engineering,

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About Majid Al Futtaim Properties:
Majid Al Futtaim Properties is the leader in the ownership, development and management of ‎shopping malls and complimentary mixed use projects in the Middle East and North Africa (MENA). Majid Al Futtaim Properties has changed the face of shopping, leisure and entertainment across the region with eleven world-class malls operating in the UAE, Bahrain, Oman and Egypt and two currently under development in Cairo, Egypt and Beirut, Lebanon. In April 2012, Majid Al Futtaim Properties opened its sixth strategic mall in the UAE with Fujairah City Centre. The Company's shopping malls continue to witness a steady increase in footfall with more than 140 million visitors in 2011. Majid Al Futtaim Properties has earned numerous accolades and awards from international organisations that have recognised its leadership and the quality of its properties. 

Majid Al Futtaim Properties has four flagship shopping malls; three in Dubai and one in Bahrain.  In Dubai, Deira City Centre boasts over 370 stores, leisure and entertainment facilities and over 50 restaurants and cafes; Mall of the Emirates houses over 535 international retail brands, including 80 luxury stores and the world-renowned Ski Dubai; and Mirdif City Centre offers visitors a mix of retail, leisure and entertainment options including 430 stores and iFLY Dubai, an indoor skydiving centre.  Bahrain City Centre is the largest shopping, leisure and entertainment complex in Bahrain with 340 international brands including 60 dining options, and features Wahooo!, the region's first  region's first indoor- outdoor waterpark. 

Majid Al Futtaim Properties also owns nine hotels in the UAE and two in Bahrain, all of which are linked to the company's shopping malls.  The hotels' strategic proximity to the company's shopping malls promotes direct access to a wider international demographic and attracts more than 1.2 million guests annually. 

The Company is currently developing three master-planned communities.  The Wave, Muscat, a joint venture with the Government of Oman; will combine more than 4,000 beautiful properties, Almouj Golf, Almouj Marina, four premier hotels and new retail, leisure and dining opportunities at a seafront address in the new heart of Muscat.  The 250,000 sq.m Waterfront City development in Beirut, Lebanon, a joint venture with Société Joseph Khoury & Fils Holding SAL, will feature over 1500 residential homes, an office district, shopping mall, 2 international hotels, as well as multiple parks and a marina front promenade.  Finally, Al Zahia, developed by Sharjah Holding, a joint venture between the Government of Sharjah and Majid Al Futtaim Properties, will be a fully integrated community featuring a range of villas, apartments and commercial units.

For further information:
Alex Blake Milton/ Katharine Crallé
Brunswick Group
Phone:  +97144466270
Email: Majidalfuttaim@brunswickgroup.com

© Press Release 2012