RIYADH: Since 70% of investors are willing to pay more for environmentally friendly amenities, UAE developers can use sustainability to increase the value of their buildings.
This trend is being driven by consumer demand for sustainability in community design, with a strong preference for Leadership in Energy and Environmental Design, or LEED, certification, according to a recent paper from real estate firm Property Finder.
The most popular green building rating system in the world, LEED offers a framework for designing cost-effective, hygienic, and highly efficient green buildings that benefit the environment, society, and governance.
The report emphasized sustainability as a key driver of these demands amid noteworthy success in the UAE’s real estate market, which witnessed a spike in diversified demand and the highest volume and value of transactions in May.
“It is encouraging to see the growing conversation around sustainability in the industry, aligned with the broader national vision,” stated Property Finder’s chief revenue officer, Cherif Sleiman. He mentioned their most recent research and said that buyers are giving this feature more weight when looking for a house in neighborhoods and among different housing types.
While cost can be perceived as an obstacle to living sustainably, according to Louise Heatly, owner and managing director of Exclusive Links Real Estate, it presents an opportunity.
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