ZāZEN Gardens To Reduce Approximately 470 Metric Tonnes Of CO2 Annually
Over 50% of the UAE believes climate change is inevitable
ZāZEN Properties, a leading sustainable property developer in the UAE, urges the country’s real estate industry to prioritize sustainability in its upcoming residential projects with global data showing that all new developments and 20% of the existing building stock need to be zero-carbon-ready as soon as 2030 to achieve carbon neutrality by 2050[1]. With COP28 on the horizon, ZāZEN Properties’ COO and founding member, Madhav Dhar, sheds light on why the construction of green developments must be prioritized in the coming decades, especially in the UAE.
It was previously reported that one million new residential units would be launched in Dubai by 2030[2], but recent data indicates that this incoming housing supply may not be enough as initiatives like D33 will contribute to nearly doubling Dubai’s population from 3.5 million to six million people by the end of the decade, and the Dubai 2040 Urban Masterplan will then see this number reach nearly eight million by 2040[3].
Dubai’s population has grown by 6.3% since the outbreak of COVID-19 in early 2020, resulting in an increase of approximately 215,000 people[4] and developers in the emirate have been building projects at an accelerated pace to meet ongoing demand. This has resulted in record-breaking sales, including over AED 240 billion worth of transactions logged in 2022[5]. The cosmopolitan city is expected to once again shatter its previous growth by surpassing AED 300 billion in sales transactions this year.
However, an emphasis on building sustainably appears to be overlooked amidst this process. A recent UAE survey found that 75% of the country believes humans will find technology to solve global warming[6]. According to Madhav, adopting this mindset in the UAE’s real estate landscape will enable developers to deliver sustainable residential projects that contribute positively to the environment.
Madhav commented: “It's like a chef arranging raw ingredients on plates but not cooking them. They're setting the stage for a meal, but they're relying on another person - in this case developers - to step in and complete the crucial process of turning those ingredients into a nutritious dish. In Dubai’s real estate sector, there are multiple cooks in the kitchen but many of them are not contributing enough to create a nutritious - in this case sustainable - end product.”
Urgency is increasing by the day to achieve country-wide objectives, such as the UAE Net Zero 2050 commitment. The Golden Visa program, overseas turmoil, and other pioneering government-led initiatives have not only enhanced the UAE’s global reputation but also contributed to Dubai’s impressive population growth. These factors have caused an undersupply in Dubai’s prime neighbourhoods, leading to rising prices for both ownership and rentals; the former rose 19% in the first half of 2023[7] while the latter saw an average price rise of 22% during the same period[8]. The city’s housing stock will need to grow quicker, ideally with sustainability at the forefront, to not only meet strategic objectives but also for the well-being of future inhabitants. The fast-approaching COP 28 is an ideal time to discuss how this can be ensured.
“With over 50% of the UAE’s population believing climate change is inevitable[9] and 2023 being deemed as ‘The Year of Sustainability,’ there is no better time than the present to address pressing issues in the realm of green real estate. The country’s government has done a tremendous job of implementing initiatives such as green building codes, the Dubai Integrated Energy Strategy 2030, and the Dubai Clean Energy Strategy 2050[10] - and the onus is therefore now on developers to ensure steps such as sourcing sustainable materials, attaining globally recognized green and wellness certifications, and building with innovative architecture in mind, are actioned so that sustainable communities can not only exist but also thrive,” Madhav added.
With half of the world’s population being 30 years old or younger, and this number expected to reach 57% by 2030[11], building real estate projects for future generations is essential. ZāZEN Properties’ latest development, ZāZEN Gardens in Al Furjan, is aligned with this objective as it will become the first LEED Gold-certified and Well-Being integrated residential development in Dubai, upon its delivery in April 2024. The sustainable practices and processes in developing and operating this project will reduce approximately 470 metric tonnes of carbon emissions annually and generate close to 390,000 kWh of onsite solar electricity annually, about 30% of the common area requirement annually. The homegrown brand’s developments will continue to add to the sustainable landscape of Dubai, providing a better future for the UAE.
