🌍 Sustainability in Middle Eastern Real Estate: A Rising Opportunity

While sustainability is often seen as a potential liability in Middle Eastern real estate, a shift in perspective reveals it as an economically attractive, environmentally responsible choice.

According to a Boston Consulting Group (BCG) analysis, nearly half (48%) of decarbonization in the construction sector could be achieved at no cost to developers. Here’s how it breaks down:

Buildings account for the majority of emissions (66%)
Landscaping and water contribute around 20%

If we look at the entire lifecycle of the project:
Manufacturing of construction materials contributes to approximately 25% of emissions
Operations and maintenance contribute to about 65%

By implementing green construction options like LED lighting, smart thermostats, and power-saving measures, mega projects can generate significant cost savings over a life cycle of around 50 years.

Case in point: Emirates Global Aluminum has used solar-powered aluminum smelting processes in recent years, leading to multiple contracts, including a 2021 deal from BMW Group for 40k tons of green aluminum.

It’s clear that embedding decarbonization policies during the design stage of the project lifecycle can lead to substantial reductions in greenhouse gas emissions at negligible costs. It’s time for the Middle East’s real estate sector to embrace this green revolution! 🌿🏢