Property Seekers Increasingly Prioritising Sustainability, New Report Finds

The UAE's real estate sector has experienced significant growth in the first half of 2024, with a record-breaking month in May. According to Property Finder's 'Opening Doors' white paper, property seekers are increasingly prioritising spacious layouts, community living, and sustainability. The UAE government has implemented several initiatives to promote sustainable development, including the Dubai Clean Energy Strategy 2050 and Abu Dhabi's plan 2030.

Cherif Sleiman, Chief Revenue Officer at Property Finder, expressed optimism about the growing focus on sustainability within the industry. "Energy efficiency and green building practices continue to establish themselves as key requirements and we look forward to seeing the market's response in the months to come," he said.

Sustainability is becoming a key factor for property developers, as consumers demand eco-friendly designs and LEED certifications. Louise Heatly, Owner and Managing Director of Exclusive Links Real Estate, believes that developers can capitalise on this trend by offering green properties at a premium.

"Overcoming challenges through education and innovative financing models presents an avenue for Dubai to continue leading the charge towards a more sustainable future in real estate," she said.

Abu Dhabi's sustainable efforts

Kika Pavese, Managing Director of MD Real Estate, highlighted Abu Dhabi's commitment to sustainability through projects like Masdar City and the forthcoming Aldar Sustainable City. However, she noted that affordability remains a challenge for residents. "Ultimately, the success of sustainable housing in the UAE will depend on a collaborative approach that includes government initiatives, private sector innovation, and public willingness to embrace a sustainable lifestyle," Pavese said.

The UAE government's introduction of the Blue Residency Visa earlier this year has also encouraged sustainable choices in real estate. The visa attracts individuals who have made significant contributions to the environment in the UAE and promotes investments in sustainable living.

Community-centric living

Property Finder's latest UAE Community Living Survey revealed that real estate consumers are increasingly seeking community-centric living that aligns with their personal values and aspirations for sustainability.

Abdullah Alajaji, Founder of Driven Properties, emphasised the importance of embracing sustainability as a core development principle. "As we look to the future, it is clear that sustainable building is the foundation upon which all successful real estate ventures must be built," he said.