According to Statista, real estate activities in the UAE contribute roughly 5.5% to the country's GDP, and the UAE has the fourth highest energy consumption per capita in the world in 2021. As a result, a growing number of builders in the area are putting an emphasis on eco-friendly building practises, and the United Arab Emirates (UAE) has achieved significant strides in green real estate, especially with regard to transparency. The Masdar Green Real Estate Investment Trust (REIT) is the first in the United Arab Emirates (UAE) to invest entirely in sustainable real estate developments, and in January 2021, Masdar entered into a strategic arrangement with Emirates NBD Asset Management to offer services for the REIT.
Four commercial properties in Masdar City are currently part of the portfolio; together, they use about 40 percent less energy and water than conventional Abu Dhabi structures. Three or more Pearls have been awarded by Abu Dhabi's Estidama Pearl Building Rating System, and one of these buildings is also LEED Platinum certified, the highest level of certification available from Leadership in Energy and Environmental Design, the most popular green building rating system in the world. Using cutting-edge technology, Diamond Developers' newest residential project, The Sustainable City, promises to achieve zero waste to landfill through its innovative waste management system. Already home to 500 villas and townhomes, this Dubai neighbourhood is poised for significant growth.
Expo. Terra, the Sustainability Pavilion, was an example of environmental sustainability; it was a self-sufficient building in the middle of a desert, with solar panels powerful enough to send a car halfway to Mars, technology that collected water from the air, and a greywater system that cut water use by as much as 75%. The pavilion also received the highest possible LEED rating, Platinum.
To ensure the health and safety of its residents, visitors, and other critical stakeholders, Al Thuraya Tower 1 was one of the first buildings in the United Arab Emirates to pursue the WELL Health Safety rating. The Edge Building, ENBD REIT's most valuable asset in Dubai Internet City, received LEED Gold certification in March. The building has cut its water use in half, which is the same as 47 families using water for a month, its energy use in half, which is the same as powering 15.4 homes for a year, and its waste production in half (equivalent to 469 trash bags of waste recycled instead of landfilled) Green shoots are continuing in UAE despite the fact that the country has one of the world's greatest environmental footprints.