• The UAE surpassed $5 billion in tourism revenue during H1 2022
  • The UAE was the only GCC country to rank in the top 30 of a recent survey on real estate sustainability and it is inching toward 1,000 green-rated buildings

Dubai, UAE: Homegrown real estate developer, ZāZEN Properties, has shared its insights on the latest trends in the country’s sustainability efforts for the UAE real estate sector, which has continued to increase over the past year.

Real estate construction is responsible for approximately 40% of primary global energy consumption and research has shown that the construction of energy-efficient and sustainable structures can reduce energy requirements by 50%. With the UAE being the first Arab country to sign the Paris Agreement, a global emission reduction pledge that aspires to inhibit global warming, the government has demonstrated its role as a regional leader and it is primed to make a significant impact in energy reduction and carbon footprint.

The UAE has increased its development of green buildings as a viable real estate approach to foster sustainability. This has been achieved through the gradual adoption of energy management and retrofitting programs, green rooftops, and smart buildings to name a few. These efforts have paid off as a recent survey on sustainable buildings saw the country rank 14th with 869 green-rated buildings, making them the only GCC country to crack the top 30; Qatar, Saudi Arabia, Kuwait, and Oman respectively ranked 32nd, 54th, 69th, and 70th.

Sustainable tourism in the UAE has also been on the rise. Dubai’s ranking for attracting foreign investment in tourism was the highest among the country’s seven emirates last year, as the metropolitan city welcomed 7.28 million visitors to gross a total of $1.7 billion in revenue. The UAE has maintained this trajectory during the first half of 2022 as it surpassed $5 billion in tourism revenue[1]. Initiatives such as Ras Al Khaimah’s $500 million ecotourism plan will help to

continue attracting investment that grows the UAE’s overall economy and develops the country’s real estate landscape.

The MENA region has increased its focus on promoting sustainable tourism through the development of sustainable cities. Neom, Saudi Arabia’s $500 billion zero-carbon city, is a prime example of an attraction that will encourage investment, increase tourism, grow the economy, and lead to a more sustainable future. Qatar’s Downtown Doha project is also playing a key role in making an existing city more sustainable as they expand the scope of sustainable real estate.

Madhav Dhar, Co-Founder, and COO of ZāZEN Properties said: “Climate action is a catalyst for driving economic growth. There is a growing emphasis on this in the UAE’s real estate landscape and it is as timely as it is beneficial.  With local initiatives such as Dubai 2040 Urban Master Plan and UAE Net Zero 2050 on the horizon, the increased development of sustainable real estate will be instrumental in achieving a more prosperous future not only for the country but also on a global scale with initiatives such as the Paris Agreement. A recent Knight Frank survey showed that a majority of Middle East respondents acknowledged that less than 25% of their global portfolios were sustainable; 75% confirmed that net zero targets would play a significant role in terms of decision-making in the real estate sector in the future. Since we entered into the UAE’s real estate market, we have emphasized sustainability at the core of our developments with the understanding that the future is now. We look forward to continuing to contribute to the country’s green agenda and taking it a step further with 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 make Dubai the best city in the world.”

ZāZEN Properties handed over its flagship development, ZāZEN One, in January 2022; it sold out in a matter of months and was awarded the Sustainable Real Estate Project of the Year at the 2022 Sustainability Innovation Awards, as well as the Best Residential Development Award at the Arabian Property Awards 2022. The homegrown brand has since begun construction on its newest development, ZāZEN Gardens, located in Al Furjan. Limited sales will commence by the first week of November 2022 in collaboration with One Brokerage Group (OBG), their primary sales partner. OBG is a leading real estate brokerage company that provides unrivaled professional, transparent, and personalized service across the UAE. For more information, please call or WhatsApp the team at +971 50 170 9376.

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About ZāZEN Properties:

Launched in 2018, ZāZEN Properties is building unique sustainable residential developments in established communities of Dubai, catering to the mid-market segment consumer and providing a ‘community within a building.’

ZāZEN Properties’ flagship development, ZāZEN One, located in JVT, was delivered in January 2022 and has been repeatedly nominated for its design and sustainability efforts, recently receiving the Sustainable Real Estate Project of the Year Award at the 2022 Sustainability Innovation Awards and the Best Residential Development Award at the International Property Awards 2022 held in the UK. As a result, units at ZāZEN One sold out within 6 months with residents occupying and enjoying the vast number 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 for the sustainable developer’s newest project is underway; off-plan sales for ZāZEN Gardens will commence by November 2022, and a show unit and sales center will be at the project site.

For all media inquiries contact:
Bianca Riley | Aaron Illathu | Karim Geadah | Jinaan Hameer | Dushane Solomon
Atteline
E-mail: zazen@atteline.com 

[1] https://english.alarabiya.net/News/gulf/2022/09/11/UAE-H1-tourism-revenues-top-5-bln-Vice-president