Aldar Properties (“Aldar”) has committed to investing AED 25 million (approx. USD6.8 mil) for energy retrofit projects in 13 of its residential communities that will reduce utility consumption for owners and tenants as part of the company’s efforts to make its communities more energy efficient and environmentally friendly.
Aldar’s latest retrofit project is set to reduce utility consumption by AED 12 million (approx. USD3.27 mil) per year across the 13 chosen residential communities.
The plan was developed in conjunction with the owners’ associations of the communities, which are managed by Provis, Aldar’s real estate property management company. Grfn is acting as the Energy Project Management Company, while Siemens will carry out the retrofit project.
The company’s investment into its communities is incremental to the ambitious portfolio-wide energy management project that was announced in early 2022. The project will enhance efficiency across a range of Aldar hotels, schools, commercial, leisure, retail, and residential buildings.
Aldar properties legal team is led by group general counsel Emma O’Brien (pictured).