The firm said it will collaborate with CEBC in its ‘Energy Efficiency’ working group to achieve goals that will promote a sustainable future and support the UAE Net Zero by 2050 Strategic Initiative
Aldar Properties says it has become the first real estate firm to join the Clean Energy Business Council (CEBC) as a Partner member; it will now work closely with the organisation to enhance energy efficiency in the region.
The CEBC is a non-profit member association that is working to accelerate the transition towards clean energy in the MENA region, by connecting the initiatives of the public and private sectors.
The real estate industry has a major role to play in supporting decarbonisation by reducing construction and operational emissions and working with communities to adopt more sustainable standards of living, the company said.
In late July 2022, Aldar said it was acquiring four towers in a deal worth $1.7bn and, in August 2022, CBRE said it had advised Aldar Properties on a $221mn RAK hospitality deal.
As one of the MENA region’s largest real estate developers, with assets under management of over $8.1bn – and a significant landbank primed for further development – Aldar recognises its responsibility to lead and support clean energy transition initiatives, the company stated.
Aldar said it will collaborate with CEBC in its ‘Energy Efficiency’ working group to achieve goals that will promote a sustainable future and support the UAE Net Zero by 2050 Strategic Initiative.
This group, one of five CEBC working groups, aims to provide a forum to discuss policy and to help create a path for effective energy transition by actively engaging government entities, policymakers, businesses, and consumers. CEBC is said to have a strong list of Partner members including major regional companies such as ACWA Power, ENOC and multinationals such as Standard Chartered, TotalEnergies and ENGIE.
In mid-August 2022, Apollo said it had acquired a $400mn stake in Aldar Investment Properties and, in October 2022, Aldar announced a lagoon-themed villa community.
Dr. Nasser Saidi, Chairman at CEBC remarked, “When discussing the energy crisis, the supply side takes most of the attention while the demand side is usually ignored. However, with current energy efficiency technologies, the world is capable of reducing up to 40% of its energy consumption. Aldar joining CEBC will empower our energy efficiency working group and strengthen our voice.”