ALDAR JOINS THE CLEAN ENERGY BUSINESS COUNCIL TO HELP ENHANCE ENERGY EFFICIENCY ACROSS THE MENA REGION

• Aldar is the first CEBC Partner member from the real estate industry
• Supports the leading role Aldar is taking on climate action in the region

Abu Dhabi, UAE – 11 November 2022: Aldar Properties (‘Aldar’) has become the first real estate industry entity to join the Clean Energy Business Council (‘CEBC’) as a Partner member and will work closely with the organisation to enhance energy efficiency in the region. The CEBC is a non-profit member association that is working to accelerate the transition towards clean energy in the MENA region, by connecting the public and private sectors.

The real estate industry has a major role to play in supporting decarbonisation by reducing construction and operational emissions and working with communities to adopt more sustainable standards of living. As one of the MENA region’s largest real estate developer and manager with assets under management of AED 30 billion and a significant landbank primed for further development, Aldar recognises its responsibility to lead and support clean energy transition initiatives.

Aldar will collaborate with CEBC in its ‘Energy Efficiency’ working group to achieve goals that will promote a sustainable future and support the UAE Net Zero by 2050 Strategic Initiative. This group, one of five CEBC working groups, aims to provide a forum to discuss policy and to help create a path for effective energy transition by actively engaging government entities, policymakers, businesses, and consumers. CEBC has a strong list of Partner members including major regional companies such as ACWA Power and ENOC and multinationals such as Standard Chartered, TotalEnergies and ENGIE.

Dr. Nasser Saidi, Chairman at CEBC, said: “When discussing the energy crisis, the supply side takes most of the attention while the demand side is usually ignored. However, with current energy efficiency technologies, the world is capable of reducing up to 40% of its energy consumption. As a powerhouse in the region, Aldar joining CEBC will empower our energy efficiency working group and strengthen our voice.”

Salwa Al Maflahi, Director for Sustainability and CSR at Aldar, said: “We are pleased to join CEBC as a partner and look forward to working with the association to advance the region’s energy efficiency agenda. Aldar is proud to be taking a leading role on climate action in the region and to be helping set the benchmark for the real estate sector. As the urgency of combatting climate change intensifies, we are enhancing our sustainability strategy to lower our carbon emissions and become fully aligned with the UAE’s Net Zero goal.”

This year, Aldar embarked on an energy management initiative announced in January that is expected to cut consumption by 20% across up to 80 of its owned assets. Following this, Aldar invested a further AED 25 million in energy retrofit projects in 13 of its residential communities that will reduce utility consumption for owners and tenants as part of its efforts to make Aldar communities more energy efficient and environmentally friendly.

For further information on Aldar’s sustainability journey, please visit: aldar.com/en/sustainability

-ENDS-

For further information, please contact:

About Aldar

Aldar Properties PJSC is the leading real estate developer and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar’s c. 65 million sqm land bank and includes three businesses: Aldar Projects, which manages Aldar’s fee-based development management business, including AED 45 billion of government housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.

Aldar Investment houses Aldar’s core asset management business comprising an AED 16 billion portfolio of investment grade and income-generating real estate assets diversified across retail, residential and commercial segments. It also manages three core platforms: Aldar Education, Aldar Estates and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, including Aldar Academies, the leading education group in Abu Dhabi, with 20 schools, over 24,000 students and a growing network of 3,000 educators from over 100 nationalities, offering a wide range of curriculum and ancillary services such as a Teacher Training Academy.

Aldar Estates consolidates Aldar’s Retail Operations alongside existing Residential and Commercial real estate operations within Provis and will further include Community Management under one integrated property management platform. Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat. It includes Aldar’s portfolio of 10 hotels, comprising over 2,900 hotel keys and managing operations across golf courses, beach clubs and marinas.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.

Aldar is driven by a vision to be a leading real estate developer and manager in the region by playing a key role in the development of quality, comfortable, desirable destinations that people can live in, work at and visit.

For more information on Aldar please visit: www.aldar.com  or follow us on:

About the Clean Energy Business Council (CEBC) 

Middle East Clean Energy Business Council (CEBC) is a non-profit organization dedicated to promoting clean energy including renewables, energy efficiency, smart grid, energy storage, and clean energy technology and solutions for the environmental sector. Established in 2008 by a group of leading institutions, companies, and individuals who recognized the potential for a clean energy revolution in the MENA region, the CEBC creates a forum for stakeholders to come together to exchange ideas, share information and facilitate projects. CEBC provides a platform to further dialogue between the public and private sectors to develop much-needed policies and regulations to help drive the implementation of clean energy across the MENA region.

Please find more information at: www.cebcmena.com