Dubai recorded $2.9bn worth of real estate transactions in a single week in July 2022
Homegrown real estate developer, ZāZEN Properties, is leveraging its expertise in sustainable property development to help realize key UAE initiatives such as the Dubai 2040 Urban Master Plan and UAE Net Zero 2050.
After a January handover for its flagship project, ‘ZāZEN ONE’, which sold out in a few months, the company is currently building on its success to further solidify its role as a key player in UAE’s real estate market and simultaneously exhibiting its sustainable property development mindset.
Real estate activities were recently reported to generate about 5.5% of the UAE’s overall GDP This figure will likely climb higher as the country’s current real estate boom, which saw Abu Dhabi record $6.1bn worth of transactions in the first half of 2022 and Dubai log $2.9bn in a single week in July, continues. As the UAE emphasizes economic diversification as a catalyst for future growth initiatives, sustainable property development will remain a key pillar of focus.
The UAE government accordingly rolled out UAE Vision 2021 to ensure sustainable development amidst environmental preservation. This national agenda aspires to strike a balance between economic and social development and requires cooperation among all entities in order to guarantee the UAE’s position as a forerunner in the provision of smart services. Real estate is a key objective of the programme as the adoption of sustainable development practices will effectively contribute to the overarching UAE Net Zero 2050 initiative which aims to achieve net zero emissions by 2050.
Madhav Dhar, Co-Founder, and COO of ZāZEN Properties commented: “As a property developer with a sustainable mindset, we ensure sustainable design and construction practices are implemented from the design of the project, through to the tender, actual construction process, and operations of the development. We have seen the long-term benefits of sustainable designs first-hand. Although there is additional upfront capital expenditure versus traditional construction practices, the resulting benefit, in the long run, includes reduced operational expenses, including lower energy and water costs, which range from 20-40% based on the systems used. While factors like the pandemic recovery, a successful Expo 2020, and visa reforms have contributed to the country’s real estate surge, sustainable property development is an example of a niche that will carry this momentum forward.”
ZāZEN Properties’ continual emphasis on incorporating sustainability at the heart of its development projects has not gone unnoticed. The company was recently awarded the Sustainable Real Estate Project of the Year for its ‘ZāZEN One’ project, reinforcing its commitment to a sustainable future by providing excellent eco-friendly facilities and services to the JVT (Jumeirah Village Triangle) community. As the UAE strives toward a greener future, ZāZEN Properties is leading the real estate development sector with various exciting projects in the pipeline.