Aldar collaborates with Rebound LTD

Aldar collaborates with Rebound LTD

- Rebound Ltd. is a quality assured global trading platform for recycled plastics

- Partnership is in line with Aldar’s Net Zero Plan to enhance waste management across its value chain

- Recycled plastic waste from Aldar developed communities and managed destinations will be collected and sold on Rebound Plastic Exchange, with the proceeds used to reduce service charges

Abu Dhabi, UAE: Aldar Properties PJSC (‘Aldar’) has signed a Memorandum of Understanding (‘MoU’) with Rebound Ltd. (‘RPX’), the global B2B digital trading platform for recycled plastics, to increase the volume of plastic that is recycled within Aldar developed communities and managed destinations. The plastic collected will be sold on the quality assured Rebound Plastic Exchange marketplace and the proceeds will be used to reduce service charges.

Through this collaboration, Aldar and RPX, which was set up as a subsidiary of International Holding Company (‘IHC’) in December 2021, will work together to develop a scalable model for the collection of recyclable plastic waste from Aldar’s developed communities and managed destinations with the pilot programme initially focused on Saadiyat Island.

Jonathan Emery, Aldar Development’s Chief Executive Officer, said: “In line with our Net Zero commitment, we are ramping up initiatives that will help to reduce the negative