Dubai is one of the hottest real estate markets in the world in many ways. While 2018 saw declines in real estate prices, it remains a place where the global market goes to buy property, and often, it’s as an investment.
While Dubai is often associated with the utmost in luxury, many people are surprised to see how affordable property is in certain instances. The city has been working to attract mid-range buyers, and they’ve also cultivated an accessible mortgage market.
Another way Dubai is appealing to buyers as well as renters? Eco-friendly real estate.
Dubai has been working to create an image as one of the most forward-thinking cities in the world, and much of that is due to the focus developers, architects and residents put on sustainability.
The following are some things to know about Dubai and its sustainability efforts in real estate and architecture, as well as in general.
Solar Power
Sheikh Mohammed bin Rashid Al Maktoum, who serves as the ruler of Dubai and Vice President and Prime Minister of the UAE recently announced an Emirates plan to construct the biggest concentrated solar power plant in the world.
It marks a major milestone for Dubai because they have been making significant efforts to become more eco-friendly.
Plans and estimates indicate by 2050 Dubai will generate 75% of energy using renewable resources. The name of the project is the Mohammed Bin Rashid Solar Complex, and it will be unique in several ways including the fact that it will store solar energy after the sun goes down.
Dubai’s leaders have also expressed the hope that the city will have the smallest carbon footprint in the world by 2050.
Dubai South District
A community called the Dubai South District is being globally marketed as the most affordable green community in the city, and yearly rent for two-bedrooms is around AED 66,000.
There are also properties to buy in this model for sustainable living.
Another community that boasts eco-friendly living features is Dubai Silicon Oasis. There rental villas including two-, three-, and four-bedroom options. In this community, some of the high-tech and sustainable features you’ll find include LED lamps, automatic temperature regulators, and motion sensors to trigger lights on the street and in the building.
Dubai Sustainability City is the first net-zero energy development in the city, with three- and four-bedroom villas available.
Features include water waste recycling, separate drainage systems for gray and blackwater, and jogging and biking trails. Also in the community are 11 bio-dome greenhouses, and individual gardens and an organic farm so residents can produce their own food.
Sustainability City has 500 villas equipped with rooftop solar panels, and there’s a second phase of the development underway which includes an eco-friendly school and a hotel that will be powered entirely by solar.
There is more than $200 billion worth of construction projects currently underway in the UAE, and for those projects and future projects, the country has dedicated itself to following sustainable development goals set forth by the United Nations.
By 2030, Dubai’s government plans to cut energy usage by 30 percent, and by 2050 the hope is that the city will reduce carbon emissions by a massive 70 percent.
Building Standards
More and more buildings are following the international LEED certification standards in Dubai, and the first green mosque was recently constructed in the area.
Older buildings in Dubai are being equipped with more energy efficient features as well, such as solar protection on glass-front buildings.
For commercial construction, design changes could lead to reduced overhead and costs of operation, so it can be a win-win in the eyes of developers and residents of the city.
The high-tech nature of Dubai, as well as the rapid growth and expansion it’s experiencing, have made it the perfect place to serve as a model of sustainability for the rest of the world. Dubai is a center of experimentation in terms of how to reduce energy usage and waste as well as water consumption. These shifts are occurring within a larger move in the Middle East to reduce oil and gas reliance, and diversify their economies.
The UAE hopes that by working gradually to become a zero-carbon economy, it will be able to attract a unique set of new international investors outside of the oil and gas industry.
For anyone who wants to find eco-friendly and sustainable properties to rent or buy in Dubai, the options are extensive and are continuing to grow.
