Investments to offset 50% of the emissions from AED 1 billion Sabban Towers development.
Dubai-headquartered Sabban Property Investments (SPI) has revealed the second part of its carbon offset initiative, which is intended to make its Sabban Towers project in Qatar a carbon neutral development.
The real estate firm has announced it is investing in two projects in China: the Quzhai waste heat recovery plant and the Saihanba wind farm.
The Quzhai scheme involves capturing and using waste heat from a cement production facility in Hebei province to generate electricity. SPI said its investment in the heat recovery plant would offset some 18,925 tonnes of CO2.
The wind farm project in China's Inner Mongolia Autonomous Region consists of 36 wind turbines, which have a capacity to generate up to 30.6 MW of electricity.
The Dubai developer stated that, in addition to reducing atmospheric pollution, the wind farm would also accelerate the commercialisation of grid-connected renewable energy technologies. SPI said 19,000 tonnes of CO2 have been offset through the wind farm investment.
The AED 1 billion Sabban Towers development consists of three residential towers built on Porto Arabia, part of a man-made island offshore from the Qatari capital, Doha. The first phase of SPI's carbon offset initiative supported projects in Uganda, New Zealand and Jamaica.
"The present boom in the construction and property development sector in the region has benefited a large number of investors and developers. However, it is an undisputed fact that large-scale developments produce greenhouse gas emissions that contribute to climate change," said SPI managing director, John Browne. "As such, responsible businesses and individuals need to do their part to address the enormous challenges of climate change and waste management."For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.