Aging office buildings in Dubai and Riyadh could drive ESG awakening in the Middle East

Aging office buildings in Dubai and Riyadh could drive ESG awakening in the Middle East

Dubai: Aging office buildings in Dubai and Riyadh present a unique investment opportunity as occupier expectations start turning increasingly green, according to a new report, The ESG Imperative – The View From The Middle East - https://bit.ly/3ehxPwC, by global property consultancy, Knight Frank.

As sustainability issues take centre stage globally, environmental, social and governance (ESG) considerations are growing in importance. With 40% of global greenhouse gas emissions traced to the buildings we occupy, the imperative to go green has never been stronger. Furthermore, ESG factors can have a significant impact on the attractiveness of commercial assets to occupiers, as well as investors.

Knight Frank says ESG rated commercial assets are increasingly being sought after, especially by international blue-chip businesses.

WINNING THE WAR FOR TALENT

Faisal Durrani, Partner – Head of Middle East Research, Knight Frank, explained: “Occupying best-in-class office space is no longer a nice-to-have, but a need-to-have. Businesses are quickly discovering that to win the battle against the global talent shortage, a key tool is occupying world-class office space that effectively doubles as a showroom. This allows a business to showcase itself to potential clients as well as future talent, while offering a workspace that employees are proud to work in. This will