• 121 LEED-certified buildings rose up in Dubai as a byproduct of Expo 2020
  • ZāZEN Gardens launches its construction phase with 25% of units sold

Dubai, UAE: ZāZEN Properties, a leading sustainable property developer in the UAE, cites that Dubai’s real estate market will maintain its strong momentum on the back of the country’s forecasted non-oil growth of nearly 4%[1]. The homegrown brand recently launched off-plan sales for its newest project, ZāZEN Gardens in Al Furjan, which is the first LEED Gold & Well-Being Integrated development in the area. 25% of the units have already been sold off-plan since the mid-December launch and construction is successfully underway, highlighting the strength of the brand and the off-plan segment in Dubai.

After seeing a 4.8% growth rate in 2022, the UAE’s non-oil sector is now projected to expand by 3.9% in 2023[2]. Although oil production is stagnating in the Middle East, proactive measures set in place by the government have equipped the UAE to sustain itself away from a petroleum-driven economy.  The coming year is poised to reinforce that its efforts have been, and will continue to be fruitful.

The UAE’s Fourth Industrial Revolution Strategy was launched in 2017 to aid diversification efforts and advance the national economy by means of innovation and future technologies. Along with ‘Operation 300Bn’, who’s goal is to transform the flourishing industrial sector, with a focus on strategic industries such as food, agriculture, water and healthcare, the goal of the leaders is to help reduce dependence on global supply chains and add to the national economy.

Consistent actions, across several sectors, have been taken to realize this vision. Within real estate, there have been a growing number of initiatives put in place to improve environmental sustainability and enhance the human lifestyle, making investments within the sector appealing to a global audience. This can be attributed to a strategic focus area entitled ‘Intelligent Cities’.

Making buildings greener to meet the demands of regulators, investors, and tenants is often costly; it will reportedly take $5.2 trillion over the next decade alone to decarbonize the built environment[3]. However studies on the value of the ‘green premium’ in real estate have shown that green certifications can yield a rent premium of 6.0% and a sales premium of 7.6%.

With a significant investment required to decarbonise real estate, particularly in older buildings, where retrofitting more sustainable materials and designs can be highly complicated, a new wave of eco-friendly projects will ensure key UAE initiatives like Dubai 2040 and Net Zero 2050 are achieved[4]. The country’s government cited the rise of 121 LEED-certified buildings that were a byproduct of Expo 2020[5]. Additional projects with a sustainable-centric focus should be expected in the near future to add to this list and support the UAE’s growth.

Madhav Dhar, co-founder, and COO of ZāZEN Properties commented: “Real estate and construction are set to maintain an upward trajectory, especially in Dubai. The UAE’s industrial and manufacturing focused strategies, along with the UAE Tourism strategy, will foster the growth of new opportunities, leading to a requirement for fresh talent and capabilities, creating jobs, and enhancing the country as a truly global hub. This will sustain the country’s real estate growth and, as the employment landscape works towards reaching pre-pandemic levels once again, additional housing will be needed to accommodate existing and new residents alike. Furthermore, the UAE Golden Visa rules and residency by real estate investment schemes will continue to open the doors for more people to invest and live in Dubai.’

Madhav added: ‘With regards to the UAE’s sustainability strategy, real estate developers will increasingly play a leading role in positioning the country on a global scale. As the UAE steps into its next phase of growth, sustainable development within the sector will be an important strategy in helping it achieve its goals. ZāZEN Properties’ latest project, ZāZEN Gardens in Al Furjan will be the first LEED Gold certified & Well-Being Integrated development, and we are proud to be leading the way by reducing nearly 470 metric tons of CO2 annually, all while creating world class homes.”

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About ZāZEN Gardens

Sales enquiries for ZāZEN Gardens can be routed through ZāZEN Properties’ primary sales partner, One Broker Group (OBG) - a leading real estate brokerage company offering professional, transparent, and personalised services in the UAE. For more information about ZāZEN Properties or its new project, ZāZEN Gardens, please call or WhatsApp the team at +971 50 170 9376.

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 have launched, and a show unit and sales centre are available for viewing 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://www.arabianbusiness.com/politics-economics/uae-tourism-to-soar-in-2023-with-27bn-plan-report#:~:text=The%20UAE's%20GDP%20growth%20will,consistent%20level%20throughout%20the%20year.
[2] https://www.icaew.com/technical/economy/economic-insight/economic-insight-middle-east
[3] https://www.weforum.org/agenda/2022/01/green-real-estate-sustainability-corporate-priority/
[4] https://www.skagenfunds.ie/topic/real-estate/the-challenges-of-building-a-sustainable-real-estate-portfolio/
[5] https://mediaoffice.ae/en/news/2021/November/06-11/Expo-2020-Dubai-now-home-to-121-LEED-certified-buildings-as--mega-event-continues