Dubai is preferable for real estate investment due to its tax-free environment, low crime rates, world-class housing, & lucrative career choices. However, with the trend for sustainability, people consider it a necessity.
The article will explore the economic benefits of building eco-friendly homes in Dubai & how it will lead to a positive change in the city.
The Economic Benefits of Building Eco-Friendly Homes in Dubai
Dubai is known for its luxurious architecture and innovative building designs. With the increasing focus on sustainable development and environmental protection, there has been a cost of owning green homes in Dubai.
Here are some eco-friendly homes not only the environment but also have several economic benefits:
Cost Savings on Energy Bills
Eco-friendly homes in Dubai incorporate energy-efficient appliances, solar panels, and insulation systems that help reduce energy consumption. This translates to lower energy bills and significant cost savings over time. Green roofs, covered in vegetation, can help reduce the heat buildings absorb.
Green roofs can reduce cooling costs. According to the Dubai Electricity and Water Authority (DEWA), buildings that meet the green building regulations can save up to 50% on energy bills. This is achieved using energy-efficient appliances, solar panels, and insulation materials that help reduce the energy needed to cool or heat the home.
Increased Property Value
Eco-friendly homes have a higher resale value compared to traditional homes. This is because they are built to last longer and require less maintenance, making them a more attractive investment for buyers.
Building eco-friendly homes in Dubai can also lead to an increase in property value. As more people become aware of the environmental impact of traditional buildings, they are willing to pay a premium for eco-friendly homes.
Healthier Living Conditions
Eco-friendly homes are built with materials that are less toxic and have better indoor air quality. This creates a healthier living environment for residents, which can reduce the risk of respiratory illnesses and other health problems.
Building eco-friendly homes in Dubai can also lead to long-term cost savings. While the initial cost of building an eco-friendly home may be higher than that of a traditional home, the long-term savings can be significant.
Long-Term Cost Savings
While building an eco-friendly home in Dubai may require an initial investment, the long-term cost savings can be significant. From lower energy and water bills to reduced maintenance costs and increased property value, eco-friendly homes can offer a range of financial benefits over time.
Compared to traditional buildings, energy-efficient buildings can save up to 40% on energy bills. Dubai aims to generate 75% of its energy from renewable sources by 2050, and building sustainable homes can contribute to this goal.
Studies have shown that people who work or live in eco-friendly buildings are more productive and have better mental health. This can be especially beneficial for companies that operate out of eco-friendly office buildings.
Reaching for Sustainability Goals - How are Green Buildings Driving Positive Change in Dubai?
Here are some points on how green buildings are driving positive change and helping Dubai reach its sustainability goals:
Green buildings in Dubai are designed to be energy efficient, incorporating features such as solar panels, insulation, and energy-efficient appliances. This helps reduce the city's overall energy consumption and dependence on fossil fuels, leading to lower greenhouse gas emissions and a more sustainable future.
Dubai's green buildings drive positive change by reducing energy consumption, conserving water, and promoting waste reduction.
Green buildings in Dubai also prioritize water conservation, utilizing low-flow faucets, water-efficient landscaping, and greywater systems. This helps reduce the city's water usage and conserves one of its most precious resources.
The city has achieved a 19% reduction in energy consumption and a 30% reduction in water consumption in buildings certified under the Dubai Green Building Regulations.
Green buildings are also designed to reduce waste, incorporating composting systems, recycling programs, and sustainable materials. This helps reduce the city's overall waste and promotes a more circular economy.
Using sustainable materials and waste reduction strategies has helped reduce the amount of waste sent to landfills, which has decreased by 31% in the last five years.
Health and Wellbeing
Green buildings promote occupant health and well-being with natural lighting, improved indoor air quality, and access to green spaces. This helps create a healthier and more productive population, benefiting the city's economy.
Moreover, green buildings promote occupant health and well-being, which can positively impact the city's economy. Green-certified buildings have been found to score 26.4% higher on cognitive tests than those non-certified buildings. Another study found that occupants in high-performing, green-certified buildings reported 6.4% higher scores on sleep quality.
Innovation and Leadership
Dubai's focus on green buildings has made it a sustainable design and construction leader. This has helped attract innovative companies and entrepreneurs committed to sustainability, driving positive change and promoting a culture of sustainability throughout the city. The United Arab Emirates (UAE) has set an ambitious goal to become the best country in the world by 2071.
This vision was announced as part of the UAE Centennial 2071 Plan, which aims to position the country as a global leader across various sectors, including technology, education, healthcare, and sustainability. The plan envisions a future where the people of the UAE enjoy a high standard of living, economic prosperity, and a strong sense of community and identity.
Incentives & Regulations To Encourage Sustainabilities In Dubai?
Here are five unique points on incentives and regulations that encourage sustainability in Dubai:
Dubai Green Building Regulations
The Dubai Green Building Regulations (DGBR) were introduced in 2010 and are designed to encourage sustainable design and construction practices. The regulations cover various topics, including energy efficiency, water conservation, and waste reduction.
The regulations encourage using sustainable building materials, energy-efficient HVAC systems, and lighting and reducing water consumption through efficient fixtures and greywater recycling. Additionally, the DGBR encourages the implementation of renewable energy systems such as solar photovoltaics and the design of buildings to minimize their environmental impact.
Dubai Electricity and Water Authority (DEWA) Incentives
DEWA's initiative to offer free charging for non-commercial electric vehicle (EV) customers registered in the EV Green Charger Initiative until 31 December 2021 is a significant incentive that promotes sustainable transportation in Dubai.
By reducing the cost of ownership and making EVs more accessible to the general public, this initiative encourages more people to adopt EVs, which helps reduce carbon emissions from transportation and promotes a more sustainable future.
Building Efficiency Accelerator
The Building Efficiency Accelerator is a partnership between the Dubai government and the World Resources Institute. The program is designed to help cities accelerate the implementation of sustainable building practices and includes technical assistance, training, and support for policy development.
Improved productivity is a key economic benefit of building eco-friendly homes in Dubai, and sustainable housing can achieve this through several unique design features. Incorporates natural elements like plants, water features, and natural lighting to create a connection between occupants and nature. This design approach has been shown to reduce stress, increase creativity, and improve cognitive function, which can lead to improved productivity.
Dubai Carbon Abatement Strategy
The Dubai Carbon Abatement Strategy is a comprehensive plan to reduce the city's carbon footprint by 16% by 2021. The plan includes a range of measures, including incentives for energy-efficient buildings and the promotion of renewable energy sources.
The regulations play a crucial role in promoting sustainable development in Dubai by reducing the carbon footprint of buildings and creating a more livable and resilient urban environment. The DCAS is part of the Dubai Municipality's commitment to sustainability and its efforts to create a greener and more sustainable city for future generations.
Dubai Municipality Green Building Regulations
The Dubai Municipality Green Building Regulations were introduced in 2019 and are designed to encourage sustainable construction practices. The regulations cover various topics, including energy efficiency, water conservation, and waste reduction, and apply to all new buildings and major renovations in Dubai.
The DMGBR requires compliance with minimum standards for building performance and certification through recognized green building rating systems. The regulations encourage the use of sustainable building materials, energy-efficient HVAC systems, and lighting and reduce water consumption through the use of efficient fixtures and greywater recycling.
Additionally, the DMGBR promotes the implementation of renewable energy systems such as solar photovoltaics and the design of buildings to minimize their environmental impact.
The Bottom Line
The impact of green homes on the Dubai real estate market has been significant in recent years. As environmental awareness and concerns over sustainability continue to grow, the demand for green homes in Dubai has increased among investors and buyers.
The government's initiatives to promote sustainable development and green building practices have also contributed to the growth of the green home market in Dubai. Green homes in Dubai offer numerous benefits such as energy efficiency, reduced carbon footprint, and lower operating costs, making them a popular choice for environmentally conscious buyers.
The growing popularity of green homes in Dubai has increased property values and rental yields, making them an attractive investment opportunity for property developers and investors.