About 40% of the primary energy used in the world is used in the construction industry, but studies have shown that building with energy efficiency and sustainability in mind can cut that number in half.
The United Arab Emirates has proven its leadership status by signing the Paris Agreement, a worldwide emission reduction promise that aims to slow down global warming. This sets the stage for the country to have a major effect in the areas of energy efficiency and carbon footprint. Through the increasing acceptance of energy management and retrofitting programmes, green rooftops, and smart buildings, among others, the United Arab Emirates has boosted its development of green buildings as a viable real estate approach to support sustainability.
Increasing numbers of visitors to the United Arab Emirates are increasingly seeking out ecotourism. With 7.28 million visitors bringing in $1.7 billion in income, Dubai ranked first among the seven emirates in terms of attracting foreign investment in tourism last year. At midway through 2022, the UAE had already topped $5 billion in tourism revenue, and it continued on this track. The United Arab Emirates (UAE) is looking to continue growing its economy and developing their real estate landscape by attracting investment through initiatives such as Ras Al Khaimah's $500 million ecotourism plan.
The MENA region has increased its focus on promoting sustainable tourism through the development of sustainable cities. Neom, Saudi Arabia’s $500 billion zero-carbon city, is a prime example of an attraction that will encourage investment, increase tourism, grow the economy, and lead to a more sustainable future. Qatar’s Downtown Doha project is also playing a key role in making an existing city more sustainable as they expand the scope of sustainable real estate.