Aldar begins reporting sustainability metrics
First annual sustainability report gives rundown on governance, community and environmental practices
Aldar Properties produced its first sustainability report providing a group-wide review of the company's impact on the economy, the environment and the communities in which it operates.
The report spells out factors such as energy consumption levels across its portfolio (199,196 megawatt hours in total in 2018), as well as providing a breakdown on where it is generated (149,227MWh in residential communities and 49,969MWh in retail malls), and the total amount of equivalent carbon dioxide tonnes. It also details efforts being made to reduce its impact, such as the formation of new energy management community committees and the introduction of new smart building management systems.
“Sustainability is a key priority for Aldar as we seek to improve our performance across our four key sustainability pillars — the economy, people, community, and environment," said Aldar Properties' chief executive, Talal Al Dhiyebi.
"Launching this report marks a significant step towards greater transparency and constructive engagement with our stakeholders and reaffirms our commitment towards sustainable development. We hope that this report can help others in the UAE who are looking to increase their own positive impact in this vitally important area.”
It also details efforts made in employee training and welfare, as well as community initiatives such as a new internal volunteering policy encouraging staff to volunteer without taking annual leave.
Aldar Properties in 2018 reported a net profit of Dh1.9bn on revenue of Dh6.3bn. It ended the year with a 75 million square metre landbank and 26,000 residential units in its portfolio. In the first nine months of 2019, it made a profit of Dh1.35bn on revenue of Dh5bn.
Earlier this week, the developer unveiled the Dh8bn Saadiyat Grove scheme close to the cultural district on Saadiyat Island, which will contain 60,000 square metres of retail, entertainment, and leisure space as well as 3,706 homes. New hotels and co-working spaces designed for start-ups will also be built. The first phase, set for handover in 2022, will contain 606 residential and 200 retail units.
"Saadiyat Grove will be the heart of Abu Dhabi's new cultural district, only a short distance away from Louvre Abu Dhabi and future prominent cultural landmarks such as the Zayed National Museum," said Aldar chairman, Khalifa Al Mubarak.
Updated: November 28, 2019 04:46 PM