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Going green
Kim Latham investigates why developers are building more and more sustainable properties and discovers just how far companies will go to be green.
‘Alternative energy,' ‘sustainable technologies,' and ‘climate change' may be a whole new concept for some but governments and developers across the Middle East are pouring more time and money than ever before into the construction of future cities.
"This region is in the middle of a record construction boom and I think it's showing a great awareness that this must be comparative to environmental responsibility," says Khaled Awad, Director of Property Development at Masdar.
Abu Dhabi, home to the Masdar Initiative, has substantial natural resources and currently boasts a favorable position in the global energy market, but with oil and gas reserves set to run dry in coming years, authorities now have the task of boosting alternative markets in which to attract further global investment.
As the construction boom continues across the region, some claim the amount of foreseeable energy needed for infrastructure over the next 10 years is expected to deem more than utility companies and governments can cope with.
"To achieve lower energy demands and to have a better environmental footprint and more environmental responsibility, green construction is one way to reduce this because buildings are responsible for more than 60% of electricity used," claims Awad.
Developers, it seems are becoming increasingly aware that more energy-efficient buildings are required as opposed to less environmentally harmful properties. Some companies are pulling out all the stops to gear projects towards ensuring a healthier, cleaner future.
The Masdar Initiative was launched by the Abu Dhabi Government in 2006 with initial investment of around US$15bn. Masdar, meaning ‘The Source' in Arabic, was set up with the aim of diversifying the capital city's economy and set itself the challenge of researching, creating and commercializing new forms of renewable energy to fuel the way we live.
"I think every country is looking at Abu Dhabi with great interest to see how we are looking at renewable energy. They want to see how Masdar is evolving; if we can stand the test of time, many countries will follow in Masdar's footsteps," Awad claims.
Masdar City is no mean feat. A carbon-free, zero-waste development which will see an entire city come to life through the use of solar and wind power, the 3.7 sq mile city will be a car-free environment with public transport running underground.
Due for completion in 2016, the government has so far plunged US$4bn into the green community and financial investors have supposedly injected around US$22bn. And the company's list of priorities doesn't stop there.
The Masdar Initiative recently launched a US$2bn manufacturing unit in Germany and also boasts a US$50m fund to invest in technology companies. With a 100 megawatt solution plant planned for Madinat Zayed also in Abu Dhabi and engineering designs on the cards for a hydrogen power plant, Masdar and all its business units could well be in prime position to demonstrate the way forward for environmentally aware developers across the globe.
"Everyone is excited about Masdar. A lot of companies have signed up to become part of Masdar City. Partners from around the world are saying they want to be part of the development of the city or take part in the Masdar Initiative, the response has been overwhelming," reveals Awad.
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