UAE-based ZāZEN Properties has announced plans to launch its second sustainable real estate development within the Al Furjan community in Dubai upon the completion of its latest development, ZāZEN Gardens.
Its debut project, ZāZEN Gardens, is set to become the first LEED (Leadership in Energy and Environmental Design) Gold-certified and Well-Being integrated residential development on delivery in May, said a top official.
Annually, it will reduce 469 metric tonnes of carbon emissions and generate close to 390,000 kWh of onsite solar electricity, which is about 30% of the common area requirement yearly, stated Madhav Dhar, COO and founding member of ZāZEN Properties.
According to Dhar, off-plan properties below the AED3 million ($816,678) threshold will continue driving growth across the emirate as good quality affordable housing options become increasingly sought after by residents.
Dhar pointed out that as per Dubai Land Department (DLD) data, a total of 15,489 sales transactions worth AED49 billion were logged in last month and of these, 6,600 were off-plan properties, equating to a value of AED 13.8 billion thus reinforcing the strength of this segment.
"With the DLD having recently initiated reforms to mitigate fake listings, residents will be further enabled to source affordable homes without the hassle of dealing with fraudulent advertisements," noted Dhar.
"This will not only bolster Dubai’s off-plan market but also its real estate industry as a whole, as fines worth AED 50,000 and suspensions will be handed out to those in violation of these rules," he added.
Dhar said as more Dubai residents look to strengthen their roots in the emirate and buy homes instead of renting in the long term, similar reforms will go a long way in creating an environment that facilitates such market demands.
"Beyond affordable housing, UAE residents are also increasingly desiring sustainable homes as a way of the future. The country’s growing focus on sustainability, as exemplified by its decision to extend the “Year of Sustainability” from 2023 into 2024, is driving this change to further reshape the real estate landscape," he added.-TradeArabia News Service
&uuid=(email))