Inayat-ur-Rahman, Business Editor

Hilshaw Group and Arthur Mackenzy Properties Group signed an agreement to develop a Sustainable Mega Real Estate Project, which shall soon be launched in the emirate of Dubai. The companies will collaborate through the contribution of their native expertise to execute the multi-billion dirham venture. Arthur Mackenzy Properties Group will be the alliance’s real estate design, sales, and development arm. Hilshaw Group will render its core through funding, financial consulting, and overall project sustainability administration.

The concept and resulting project is in line with The ‘UAE Net Zero by 2050’ strategic initiative and is designed based on a customized sustainability strategy. The project’s overall vision is being developed to deliver Carbon neutrality, Water saving and efficiency, Renewable and naturally harnessed energy, state-of-the-art energy saving, and lighting systems, improved accessibility, and integrated biodiversity.

“While the role of developers is often considered to be limited to ‘positive returns for investors,’ they in fact, bear a greater responsibility towards the environmental impact of the properties they build. Buildings and real estate account for 30-40% of CO2 emissions, outpacing the transportation industry. Considering our climate, people spend nearly 90% of their time indoors; it is the industry’s moral and practical responsibility to create products with reduced negative environmental impact,” said Dr Lal Bhatia, Chairman, Hilshaw Group.

“The key to Hilshaw’s methodology for this sustainable real estate project is to go a level deeper than the existing Global Goals and identify measurable and value-added targets that support the financial and SDG performance of the project,” he added.

“With the evidence of the economic benefits of green buildings, it is imperative that the real estate industry takes a more active role in establishing their own sustainable agenda for the future,” said Shaher Mousli, Chairman, Arthur Mackenzy Properties Group.