With real estate professionals pushing sustainability and climate change to the top of their agenda, Cityscape Intelligence reveals our list of the region’s top real estate professionals who are driving change in the industry.

H.E. Razan Khalifa Al Mubarak

Instrumental in driving sustainable and green initiatives in the UAE, Razan Khalifa Al Mubarak, Managing Director, Environment Agency – Abu Dhabi (EAD), the largest environmental regulator in the Arabian Gulf, has more than 20 years of experience in the  region and has been heavily focused on climate change, ecological footprint and environmental education for two decades. She is leading Abu Dhabi's commitment to reducing greenhouse gas emissions by 42% by 2030 and helped to establish the UAE’s  strategic groundwater reserve.

In 2018, the World Economic Forum selected her as one of the top 100 Young Global Leaders for her contribution to building a more sustainable future for humankind.

 

 Ibrahim Al-Zu'bi, Chief Sustainability Officer at Majid Al Futtaim-Holding

 Ibrahim oversees the company’s sustainability strategy and has been instrumental in raising the sustainability profile of Majid Al Futtaim in the MENA region and across the globe. One of Ibrahim’s top priorities is to develop and drive a ‘net positive’  sustainability strategy across the company’s different business units.

He is currently a Board member of the Emirates Green Building Council, Vice-Chair of the Corporate Advisory Board of the World Green Building Council (WorldGBC), and UAE  representative in the Global Alliance for Buildings and Construction – a COP21 initiative.

 

H.E. Dr. Ali Al Jassim, Chairman of Emirates Green Building Council

One of the region’s biggest sustainability proponents, H.E Ali has 25 years of experience in leading roles delivering programs and projects and has held top positions in both the public and private sector. At the helm of EmiratesGBC, the council has given rise to sustainability awareness and accomplishments have supported the evolution of the UAE as an established green economy and have advocated the rapid decarbonisation of UAE buildings.

In addition to chairing the EmiratesGBC Board of Directors, he is also a board member of the Emirates Environmental Group (EEG) and the World Green Economy Organization (WGEO).

 

Dr Rusty Brainard, Chief Environment Officer, at The Red Sea Development Company (TRSDC)

As one of the world’s most ambitious sustainable tourism developments, Dr. Rusty is helping the destination meet its ambitious sustainability goals, such as habitat enhancement, 100% carbon neutrality, and delivering a 30% net conservation benefit by 2040. A key part of the destination’s master plan is informed by an extensive marine spatial planning exercise, led by Dr. Rusty, that identified key areas in need of protection.

As a result, nine islands have been designated as special conservation zones, 75% of the destination’s islands will remain untouched and TRSDC will be developing less than 1% of the destination’s total 28,000 sq km.

 

Greg Fewer, Chief Financial & Sustainability Officer at Aldar Properties

Greg is responsible for the overall financial and sustainability leadership of Aldar. An integral pillar at Aldar, sustainability is at the core of its strategy.

Aldar has committed to addressing 23 material issues that matter to stakeholders, which sits under Greg.

Prior to his roles at Aldar, Mr. Fewer was Deputy Head of Structured Finance & Capital Markets at Mubadalawhere he was jointly responsible for Mubadala's overall debt raising activities and overseeing Mubadala's investment program in the commercial finance market.

 

Mario Saab, Head of Sustainability, MENA, Cundall

Specialising in sustainability, energy efficiency, and low-carbon design solutions in the built environment, Mario is responsible for growing and shaping Cundall’s sustainability business in MENA as it rises to meet increased demand for sustainable solutions in the region.

Mario co-founded regional consultancy firm, SEEDS International, in 2011, and was responsible for directing and controlling the company’s operations and departments, as well as leading on a myriad of high-profile projects in MENA, including among many others, sustainable accreditation for the Expo 2020 UAE Pavilion, the Al Bayt and Khalifa FIFA 2022 Stadiums in Qatar, and energy efficiency consultation for the Meydan One Mall in Dubai, and the new Bahrain Airport Midfield Terminal.

 

Abdulla Ahmed Balalaa, Acting Executive Director, Sustainable Real Estate, Masdar

Abdulla is responsible for Masdar’s flagship project and Abu Dhabi’s sustainable urban development Masdar City. He oversees the development of the City, driving its strategy and sustainable growth, as well as its initiatives, partnerships and R&D clusters.

He has managed the commercialisation and development of partnerships for large scale projects, including a range of sustainable urban developments, asset monetisation, as well as bespoke sustainable development solutions.

 

 

Thierry Delvaux, CEO MEA, JLL

Thierry has been with JLL for 20 years and has held several strategic and leadership positions around the world during the time. With sustainability becoming a focal point for JLL, Thierry has been driving green initiatives for the company in the MEA region.

Prior to joining the MEA team, Thierry was the global Head of the International desk- a role he held since 2015- and Chairman of the Global Tenant Representation Board.

 

 

Daniel Gribbin, Corporate Sustainability Leader, WSP in the Middle East

A sustainable lead at WSP in the Middle East, Daniel is a sustainability advisory and assurance expert with extensive experience across South America, Europe, Asia and the Middle East in sectors including natural resources, transport, food and beverage, government, financial services and manufacturing.

Daniel is an advocate for sustainability in the region and believes there should be a firmer pledge from companies to reduce emissions, disclose financial risks related to climate change, and intensify the actions and investments needed for a sustainable low carbon future.

 

Yousif Ahmed Al-Mutawa, Chief Executive Officer of Sharjah Sustainable City

Sharjah Sustainable City is the first fully sustainable community in Sharjah and provides a pioneering model for the city of the future. Headed by Yousif Ahmed Al-Mutawa as its CEO, the city has been designed with the aim of reducing the carbon footprint in the emirate, and the city will be fully powered by renewable energy that is produced by solar panels, while recycling water and waste.

The city features electric mobility solutions, including charging stations for electric vehicles and a distance of 2.4 KM dedicated to electric autonomous vehicles.

 

Dina Storey, Head of Sustainability Expo 2020 Dubai

As Head of Sustainability Operations at Expo 2020 Dubai, Dina leads the development and implementation of the World Expo’s sustainable event management strategy.

Dina’s current focuses include sustainable development and integration of sustainability into both the built environment and operations. Her mandate is to ensure that the Expo meets and exceeds its sustainability commitments both locally and globally. This includes planning for event and legacy, stakeholder and market engagement, and communications and awareness campaigns designed to extend Expo 2020’s sustainable impact.

 

Dr. Alex Amato, Head of Sustainability, Qatar Green Building Council

Dr. Alex’s work and expertise focus on sustainability, life cycle assessments, climate change assessments, and CO2 accountancy, green planning, linear parks, and urban ecology.

His research interests include the question of a post-2022 Qatar: moving from new build to repair and upgrade, developing new skills and standards locally, and new approaches to managing buildings as ‘untradeable assets.’

 

 

Stephane le Gentil, COO and acting CEO, Abu Dhabi Energy Service (ADES)

Stephane is Chief Operating Officer and acting Chief Executive Officer for Abu Dhabi Energy Services (ADES), the Super ESCO for the Emirate of Abu Dhabi responsible for retrofitting government and commercial buildings by identifying sourcing, and funding solutions that deliver tangible reductions in water and electricity consumption.

In 2017 he founded Wattaqa to provide strategic consultancy & advisory in energy efficiency and energy services in the Middle East region and was CEO of the Clean Energy Business Council.

 

Janus Rostock, Vice President, Practice Lead, Design + Planning & Economics, Head of Concept Architecture, AECOM MEA

Urban designer and award-winning architect, Janus has worked in the Middle East region for more than 25 years. With a strong emphasis on community-oriented placemaking, Janus and his team prides themselves on sustainability in the built-environment and are strong advocates for sustainable architecture.

In 2011, he led the design of Dubai Opera and the Opera District, KIFAF, Prince Sultan Cultural Centre, Dubai Creek Harbor Phase one and Qiddiya.

 

Faris Saeed is the CEO and co-founder of Diamond Developers, The Sustainable City

Heading up Dubai’s Sustainable City, Faris has been instrumental in creating Dubai’s Sustainable City. The city contains 500 villas grouped into five residential clusters connected to an urban farm that runs the length of the city as well as 11 biodome greenhouses running the length of the Central Green Spine, with a total capacity of over 3,000 square metres for urban farming.

From solar car parks to ensuring optimal energy efficiency, the Sustainable City is one of Dubai’s greenest areas.

 

Nigel Craddock, Design Director – IMKAN

With a firm focus on placemaking and sustainable design, Nigel has worked for IMKAN for the past four years.

He recently competed the Beach Club at Makers District, launched in 2020.

 

 

Nadhmi Al-Nasr, CEO, NEOM

Tasked to head up Saudi Arabia’s ambitious, sustainable mega-city NEOM, Nadhmi al-Nasr has worked on developing the strategy and development behind NEOM Bay as well as the strategic development and business plans for NEOM’s core economic sectors.

Expected to take up an area the size of Belgium on Saudi Arabia’s Red Sea coastline and expected to be powered entirely by renewable energy, NEOM will have nine key investment sectors: energy and water, mobility, biotech, food, technological and digital sciences, advanced manufacturing, media, and entertainment.

Earlier this year, NEOM announced the launch of The Line, a 170 km mega-city that will house a million residents in carbon-positive urban developments powered by 100% clean energy.

 

Shaun Killa, Design Partner, Killa Design

With a passion for sustainable design, Shaun is an award-winning architect with a career that spans over two decades. An advocate for sustainable design, Shaun’s philosophy is focused on innovation, sustainability and the natural environment. He has worked on projects across the region, including the brand-new Museum of the Future in Dubai.

 

 

Gerard Evenden, Senior Executive Partner – Head of Studio, Foster + Partners

Gerard joined Foster+Partners in 1991 and is now  Head of Studio and part of the Design Board.

His current work includes a number of sustainable projects, including Coral Bloom, part of the ambitious regenerative tourism project on Saudi Arabia’s Red Sea coast, two airports in the Middle East, and the Mobility Pavilion at the 2021 Dubai Expo.

 

 

Ian Albert, CEO, MENA, Colliers

Ian has worked extensively throughout the United Kingdom and the Middle East, North and Southern Africa having been involved in projects in all of the Arabian Gulf Countries, the Levant, North and South Africa, GCC countries, plus Republic of Mozambique, Republic of Namibia, Kingdom of Swaziland, Lesotho, Sudan, Egypt, Lebanon, Syria and Jordan.

​For the last 20 years Ian has been based in the GCC.

 

 

 

*This list is in no particular order and has been put together based on nominations and data collected by Cityscape Intelligence.

A memorandum of understanding (MoU) between Egypt and the European Bank for Reconstruction and Development will look to boost green infrastructure and sustainability across the country’s cities.

Speaking about the signing and what it means for Egypt, Deputy Minister of Housing, Sayed Ismail, said that the agreement aims to prioritise environmental challenges and looks to develop strategies around creating sustainable investment in Egypt’s cities.

The ministry will address challenges around infrastructure, water and production of renewable energy in the new cities.

The government is already looking at creating sustainable initiatives around 6^th October City.

 

 

_{Photo Credit: www.as-p.com/projects | https://placesjournal.org/}

 

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Saudi Arabia’s most ambitious project, all part of The Red Sea Development, has appointed Killa Design to design the overwater and inland villas on the project’s Sheybarah Island.

Expected to be completed in 2022, Killa Design led by Shaun Killa has drawn up a series of overwater and inland villas for one of the country’s most sustainable luxury tourism destinations.

“Our designs of the overwater villas are inspired by the natural surroundings, particularly the corals in their purest form, which make up the circle effect. The circle represents unity, integration, and wholeness, giving guests a sense of completion, confidence, and harmony. These coral-inspired villas emerging from the surface of the water will be made of polished steel that will reflect the water, the sky, and the best part of the project – the reef below,” according to the architects.

Furthest from the mainland, Sheybarah Island will feature a 30 to 40-metre reef drop-off in very close proximity to the beach.

The Red Sea Development, part of Saudi Arabia’s Vision 2030, was first announced in July 2017 by Saudi Crown Prince HH Mohammed bin Salman, runs along 28,000 square kilometres in The Kingdom, and is expected to provide a significant boost to the country’s GDP upon completion (currently scheduled for 2022). 

_{Photo Credit: www.killadesign.com}

 

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As part of a new investment plan for 2021/2022, Egypt is targeting USD 80 billion, a plan which forecasts 125% increase in funding for the production sector and a 30% increase for the country’s service sector.

The figures were announced by the Egyptian Minister of Planning and Economic Development Hala Al-Saeed.

Egypt is looking to significantly invest in public spending, healthcare, education, and scientific research, technology, manufacturing, and agriculture.

 

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Gated communities in Cairo have increased in demand over the first quarter of 2021 following a positive performance in the residential sector.

“This is mainly due to the increase in demand for newer gated communities which are now becoming more mature and livable,” said Ayman Sami, Country Head, JLL Egypt. “The overall rental market increased marginally by 2% and 1% annually in 6th of October and New Cairo, respectively.”

AT THE MOMENT, CAIRO'S RESIDENTIAL MARKET HAS SEEN:

• Completion of around: 4,000 units, bringing the total residential stock to around 212,000 units.

• An additional 21,000 units are expected to be delivered by the end of the year.

• JLL expects the sector to witness a boost in demand following the recent announcement by the Central Bank of Egypt (CBE) that it has launched a new mortgage finance programme with a 3% interest rate.

 

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A new luxury residential tower by architects’ PLP Architecture incorporates biophilic design by creating surrounding greenery in a lush vertical garden along Orchard Boulevard in Singapore.

The building, Park Nova, brings a new focus on modern metropolitan living and aims to redefine urban living in the garden city with its use of biophilic design.

WHAT IS BIOPHILIC DESIGN

Biophilic design is an innovative method that uses nature within interior design and architecture. Experts maintain that by bringing the natural environment into the built environment through heavy use of nature: trees, plants, lush greenery, will create a better atmosphere for occupants’ well being.

The Park Nova building includes:

• The signature luxury tower’s biophilic design has been inspired by its lush green environment in Orchard, Singapore.

• 54 apartments seamlessly marry indoor and outdoor spaces

• The building includes a variety of dedicated resident amenity spaces that promote health and wellbeing and support active lifestyles.

Drawing on the form of a butterfly, the building is elevated above the tree canopy on slender columns and features gently undulating floorplates arranged into three wings to maximise the potential for natural shading and ventilation.

 

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Up until last year, Dubai’s warehousing sector was the exclusive playground of a handful of developers. The sector was doing well, yes, but most operators in the space were in the market for purpose-built, specialised facilities. Why would an Amazon or a Noon settle for anything but custom-built? And so investors — both private and institutional — opted to invest in residential, office or retail real estate spaces instead: easier to understand, ample opportunity.

And meanwhile the developers in the warehousing sector reaped high returns. You could rake in anywhere between an eight to ten per cent annual yield. Demand was continuous, risk minimal, and you could pull AED 25 per square-foot in a secondary industrial area, upwards of AED 50 per square-foot in a principal area, and in a sought-after location like Dubai South, upwards of AED 60 per square-foot.

But that was then. Here, too, the pandemic catalysed a shift. Lockdowns, curfews, and suddenly everyone, everywhere, was buying everything online. Soon necessity transferred to habit. But online shopping is a competitive space — same-day, next-day, express deliveries are the norm. And this set everyone, from small businesses to international conglomerates, to F-and-B players, scrambling for storage units, fulfilment centres. Suddenly everyone was in the market for a warehouse or two.

SPIKE IN ONLINE SHOPPING

Online shopping is big business in the UAE: one study found an online shopper in the UAE will spend an average of USD 122 per transaction, compared to an average of USD 76 spent per transaction in mature markets, and USD 22 per transaction in emerging ones. The nation’s consumers also have the highest annual spend per online shopper at USD 1,648.

The revenue from the UAE’s e-commerce sector is expected to come in at well over USD 7 billion in 2021, and over USD 11 billion by 2025. And every USD 1 billion of e-commerce sales requires over 100,000 square-feet of logistics real estate. An increasing number of businesses in the UAE are now on the lookout for local delivery hubs closer to major residential and business districts.

DEMAND FOR INDUSTRIAL-GRADE LOGISTICS AND WAREHOUSE

If you’re buying warehouse space, the UAE is the way to go. London, Stockholm and Tokyo are the most expensive locations in the world for warehouse properties, while India and Vietnam are the most affordable. Warehousing property and electricity costs are higher in the UAE than in India and Vietnam, but these are offset by its low diesel costs. That’s what earns the UAE its position as one of the least expensive locations for warehousing operations globally.

Demand for new industrial-grade logistics and warehouse real estate per year now sits at near eight million to ten million square-feet, and approximately half of that supply comes from Dubai alone — owing to its well-established air cargo routes and excellent maritime freight connectivity, the emirate is seen as the region’s logistics hub.

CONTINUING GROWTH IN THE INDUSTRIAL AND LOGISTICS SECTOR

Demand and occupancy levels across Dubai’s warehousing sector remained stable in 2020. Demand was particularly strong across the city’s key free zone micro-markets. Space uptake was led by e-commerce, e-pharma and e-grocery businesses, followed by the third-party logistics sector. Transaction activity was driven by existing tenants looking for additional space to increase their inventory capacity and by companies moving their sales online.

Moving forward, demand across Dubai’s warehousing market is expected to continue to grow right until 2025. Demand is expected to remain particularly high across cold storage and temperature-controlled spaces with pharmaceutical companies for tenants.

 

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In a dynamic city like Dubai, individuals are often confused between renting or owning a property. The market and its volatility have proven that it is often the individual’s risk appetite and necessity which influences the decision and there is no right or wrong judgment for the choice made.

While renting may seem to be an affordable option, there are other influencing factors like the individual’s lifestyle, their budget affability, income security, and one’s own career goals which ultimately impetuses their decision to buy or rent.

BUYING OR RENTING A PROPERTY: WHERE AM I FINANCIALLY?

As per Dubai Statistics Centre, the young population (Aged 20-30) constitutes about 35% of the overall population. Approximately 90% of this category are expats who are beginning the early stages of their careers. These expats prefer to rent a place than own one due to the various constraints with regards to the ability to pay, contractual commitments, etc. Buying or owning a property is feasible for individuals having the financial means to bear the costs associated with the purchase of a property like government charges, EMI, etc. It is also imperative to note that the loan tenure is considerably lower than the other developing economies like India resulting in higher EMIs. With the emergence of short-term rentals, expats widely prefer renting for a shorter duration (3-6 months) considering the uncertainty in the job market and flexibility in choosing a place to live. Also, the hassle of disposing of (selling a property) can be avoided while leaving the country.

Financial appetite differs from person to person. Owning a place is a good choice for individuals having financial stability. For an average individual, the costs associated with the purchase of the property like brokerage fees, registration fees, moving costs, etc. could be a substantial amount over and above the purchase price of the property. An individual having the ability to cover these costs could decide to buy a property than rent.

HOW LONG WILL I STAY?

The longevity of the stay is a significant factor to be considered before making the decision. Given the facts stated above, renting seems more appealing as the tenant is alleviated from the burden of costs of repairs, renovation of the property and service charges, etc. The mobility and freedom to move places are crucial for individuals who are still uncertain in their career or wants to be financially independent before making the purchase decision.

Buying, however, is a better choice in the long run for those who are certain about a more extended stay in the country. One important and indisputable element is having a sense of stability and permanence. Owning the property gives the person the freedom to customize their living space, which is usually limited while renting. An own house also guards the individual against uncertainties like rising rental costs and the landlord’s decision to sell his or her asset or discontinue renting. While buying seems more expensive at the onset, the rental returns/capital appreciation are some of the factors which influence the purchase decision.

WHAT DOES THE MARKET SAY?

Dubai has a diverse population predominantly comprising of expats. In a market where expatriate visas are linked to work, the risk associated with employment uncertainty makes renting a risk-free option than buying. Also, unlike the other developed and emerging countries which offer permanent residency, the duration of stay in Dubai is limited to the contracting period which inadvertently shortens their stay. These factors have a detrimental effect constraining the individuals to rent than buy.

However, the recent initiatives by the government have been in favour of people who wishes to stay in the country for a longer duration with visa security. The UAE government has recently announced multiple new visa reforms over the past few months. Some of them are remote work visas that can be used by professionals to reside in the UAE as they connect to work abroad through virtual mediums, multiple-entry tourist visas open to all nationalities. The government also announced a law that would grant Emirati citizenship to select foreign expats like Investors, Scientists, Doctors, Engineers, Artists, and Authors. The other reforms also included students being able to sponsor their parents and also the introduction of long-term Golden Visas. The Golden visa system allows expats to live, work and study in the UAE without the need of a national sponsor and with 100 percent ownership of their business. These visas are primarily issued for a period of 5 or 10 years and are renewed automatically. These reforms invariably allow the expats to look at the option to buy rather than spending the money on renting a property.

IS THERE SOMEONE THAT COULD HELP?

Given the historical trend of the real estate market in Dubai, the property prices have always recovered post the crisis period. Considering the current supply and demand dynamics, there is a probability that the real estate market would not remain a buyer’s market for long.

Although there are numerous online portals available to understand the prevailing trend for investors and end-users, the volatility and uncertainty trends in the past are difficult to comprehend, especially for individuals who are new to the market. A real estate adviser who is established in the market is the fittest choice to consult to make educated choices. Experts in the field would be better equipped to analyse, research and forecast the future, which would help the individual to examine the risks and possibilities. Considering the inherent financial commitment associated, it is imperative to understand the terms, costs, and procedures before getting into a contractual engagement.

 

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