Overview

The “Dubai: The Green Agenda 2023, Part of The ESG Imperative Series, COP-28" report is your window to the evolving landscape of global ESG investments within the UAE. This report provides valuable insights into how the UAE is navigating the challenges of population growth and sustainable development.

Dubai's Growing Population Drives Expansion

Dubai's real estate market has been on an upward trajectory, driven by positive sentiment and robust economic indicators. The city's population is projected to reach nearly six million by 2033, and further expand to 7.8 million by 2040, aligning with the government's 2040 strategic urban plan. To meet these population targets, Dubai will need to double its current housing stock, with a significant focus on the high-end villa segment.

Sustainability in the Commercial Market

Sustainability is not limited to residential development but extends to the commercial market. Environmental, social, and governance (ESG) considerations are taking centre stage. International businesses are keen on green-rated buildings to address climate concerns and attract top talent.

The Green Building Race

The Middle East is increasingly focusing on sustainability in urban areas, but it lags behind other regions due to older buildings and limited new development. The UAE, particularly Dubai, has a high concentration of green-rated buildings, ranking 14th globally. London leads with nearly 3,000 green buildings, followed by New York and Singapore. Dubai is the only Middle Eastern city in the top 25 globally, with 563 environmentally accredited buildings. However, a challenge is that locally certified green buildings may not attract international investors. Saudi Arabia ranks 54th, while Kuwait and Oman have 12 green-accredited buildings each, placing them at 69th and 70th positions, respectively.