Aldar Offers Retrofit Solutions to Reduce Energy Consumption and Reach Lower Community Service Charges

Aldar Properties, the leading Emirati developer, which is known for projects such as Mamsha Al Saadiyat, Grove Museum Views, West Yas and The Gate Towers, plans to invest AED 25M (USD 6.8M) in residential communities to reduce electricity and water consumption, which will help tenants to save money.

The energy retrofit projects will reduce electricity consumption by 29% per year, water consumption by 3% and chilled water consumption by 13%. The project will lead to the potential saving of AED 12M (USD 3.27M) and 19,000 tons of carbon emission every year.

In a filing at the Abu Dhabi Securities Exchange (ADX), Aldar stated that the projects will be executed in 13 residential communities, which is a part of the portfolio-wide energy management project announced at the beginning of 2022. The investment is considered to be first of its kind by Aldar and the initiative will reduce utility consumption for owners and tenants.

The Energy Project Management Company will be Grfn, while the retrofit project will be carried out by Siemens. The retrofit project will lead to the decrease of carbon emissions by 80,000 tons, whilst electricity consumption will be reduced by 110 GWh (29%). In terms of water and chilled water consumption, numbers plan to decrease by 886,000 m3 (3%) and 23,000,000 TRH (13%) respectively. As for gas consumption, the initiative will lead to a decrease of 726,000 m3 per year.

Aldar’s new pledge will increase its investment into sustainability and environment, and attract more potential investors, owners and tenants looking for premium and convenient real estate property. In January 2023 a wider management initiative is also planned to be announced by Aldar, which will lead to the increase of consumption by 20%, as well as support the efforts of the company to align its initiatives with the UAE’s carbon reduction aims.

If you are interested in moving to the Emirati capital or wish to make a profitable investment, you may want to learn more about one of the latest projects by Aldar – Yas Park Gate. The development, consisting of 508 homes including 2–3 bedroom townhouses and 4-bedroom villas, will be located in the entertainment hub of Abu Dhabi, Yas Island, and offer sports and leisure activities right on the territory of the development.