The project will increase the energy efficiency of a number of Aldar hotels, schools, commercial, entertainment, retail and residential buildings
Aldar Properties is investing 25 million dirhams in energy modernization projects in 13 of its residential complexes in order to reduce the consumption of utilities by owners and tenants.
Aldar's investment will offset 19,000 tons of CO2 per year and reduce utility consumption by a total of 12 million dirhams per year in these communities.
The plan was developed in collaboration with community owners' associations run by Provis, the Aldar property management company. Grfn acts as the management company of the energy project, while Siemens will carry out the modernization project.
The company's investment in its communities is the first of its kind made by an Abu Dhabi developer and complements an ambitious portfolio-wide energy management project announced in early 2022. The project will increase the efficiency of a number of Aldar hotels, schools, commercial, entertainment, retail and residential buildings.
Aldar Finance and Sustainability Director Greg Lesser said: “The commitment we have made to reduce energy consumption in our residential developments reflects the pioneering role we have taken in the region's real estate sector to reduce our carbon footprint. This project is special because its innovative structure allows for significant investments in public assets while reducing energy consumption, carbon footprint and utility bills. We are proud of our team's ability to plan and implement real win-win solutions that move our industry forward and bring tangible benefits to the owners of communities managed by Aldar.”
Provis Chief Executive Officer, HP Aengaar, added: “Provis is constantly implementing innovative technologies and initiatives focused on sustainable development that lead to a reduction in the carbon footprint of our managed communities and energy consumption. The new Aldar commitment will allow us to further increase our investments in high-performance solutions and modernization programs focused on sustainable development and environmental protection. It will also allow us to continue to build on previous achievements and improve the overall real estate experience for investors, owners and tenants.”
Aldar's broader energy management initiative, announced in January, is expected to reduce consumption by 20 percent and support the company's efforts to align its sustainability practices with the UAE's long-term carbon reduction goals.
The modernization project is a key milestone on the way to zero decarbonization throughout the company; it will reduce carbon dioxide emissions by 80,000 tons, electricity consumption by 110 GWh, water consumption by 886,000 m3, chilled water consumption by 23,000,000 trillion. h and gas consumption by 726,000 m3 per year.
In other news, Provis announced significant energy and utility savings during the first half of 2022. The savings are estimated at 2.4 million dirhams in 13 managed residential complexes and three shopping malls in Abu Dhabi.
The company reported that it has successfully reduced more than 5,000 tons of carbon dioxide emissions and saved more than 4 million kWh of energy, which is enough to power almost 600 rural homes for six months, using chilled water and initiatives to optimize energy consumption.
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