Majid Al Futtaim wins “Green Star” status for third year in a row

Posted on 30th September 2016

Majid Al Futtaim, a leading regional shopping mall, retail and leisure pioneer, said it has won the “Green Star” status for the third year in a row, by the Global Real Estate Sustainability Benchmark (GRESB) scheme.

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Identifying leaders in the real estate sector, GRESB compared more than 700 key players of the industry against various sustainability indicators such as: management, policy and disclosure, risks and opportunities, monitoring and EMS, performance indicators, building certifications, stakeholder engagement and, new construction and major renovations, said a company statement.

Majid Al Futtaim Properties has improved its performance since 2013, from 56 per cent in 2013 to 78 per cent in 2016, according to GRESB.

The Middle East retail pioneer is the 6th best performing non-listed company in the retail sector in Asia, it added.

Majid Al Futtaim said this global recognition of its sustainability leadership clearly demonstrates the successful implementation of the sustainability strategy across the business - aiming to create prosperous communities, high performing assets and enabling its propertya arm to pioneer standards.

During World Green Building Week 2016, Majid Al Futtaim will be highlighting the design and sustainability performances of its latest malls, including City Centre Beirut, City Centre Fujairah, City Centre Me’aisem, and City Centre Mirdif, demonstrating the business and environmental benefits of best sustainable practices.

Majid Al Futtaim said it hopes to encourage the region’s developers to follow its footsteps and understand that green buildings can deliver toward lower emissions, improved usage of energy and water, the health and wellbeing of the community, and the growth of the region’s economy.

At the event, the company will also detail some of the specific sustainability results achieved by its shopping malls. These include: *In 2013 - City Centre Fujairah, a Leed (Leadership in Energy and Environmental Design)-gold status building, was recognised by the US Green Building Council for its innovation in sustainable design and optimization of energy performance while reducing water consumption.

*In 2014 - City Centre Beirut, the only Leed Gold certified shopping mall in Lebanon launched a recycling program with Terre Liban to reduce waste at the mall. The program aimed to increase the percentage of recyclables from general waste, minimize the country-wide challenge to reduce waste and further contribute to protecting the environment.

*In 2015 - City Centre Mirdif, recognized as the world’s largest shopping mall to achieve a Gold Certification in Leadership in Energy & Environmental Design for Existing Buildings: Operations & Maintenance (Leed-Ebom) by the US Green Building Council.

*In 2016 - City Centre Me’aisem, awarded Leed platinum status for its sustainable design and operational approach, was named 'Green Commercial Building of the Year' in the Mena region due to its water recycling system, solar panel lighting solution, reflective roofing membrane that minimizes solar gain, Leed-compliant lights and water saving taps, and more than 83 per cent of all construction elements coming from recycled material.

“At Majid Al Futtaim our sustainability mission is to enhance people’s lives through sustainable real estate. We want to lead by example by applying international best practices across our portfolio, and in so doing; we hope to transform the economic and social development of the region,” remarked Ibrahim Al Zu’bi, the head of Sustainability at Majid Al Futtaim Properties.

Measurability, he stated, was vital to the success of any corporate undertaking, and especially within the sustainability landscape.

"Majid Al Futtaim has been measuring the impact of its green building practices and we have extensively documented how both the design and operations of our shopping malls have enabled us to reduce electrical and water consumption, decrease emissions, and enhance our millions of visitors’ lives through more natural light and other eco-friendly best practices,” he noted.

"Given the continued pace of new building construction in the Middle East, there is a significant opportunity to influence the design and sustainability practices of tomorrow’s structures by making a case for the community and cost benefits of green building principles," stated Al Zu’bi, according to Tradearabia news report.

"As Majid Al Futtaim strives to ‘create great moments for everyone, everyday,’ we have a sustainability focus at the core of our business to help ensure that current and future generations continue innovating in developing and maintaining more environmentally-friendly buildings," he added.

According to him, Majid Al Futtaim has now reached almost 75 per cent of its 2018 sustainability goals, and holds eight green building certifications.

"As the company recently announced considerable further investment in regional markets including the UAE, Saudi Arabia and Oman, it will continue to develop some of the region’s most measurably eco-friendly structures, providing much-needed proof points for World Green Building Week and other sustainability initiatives," he added.

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