Aldar invests 46.81mln to endorse energy consumption reduction

Aldar invests 46.81mln to endorse energy consumption reduction

Abu Dhabi – Aldar Properties plans to invest AED 25 million in energy retrofit projects to reduce utility consumption for owners and tenants across 13 of its residential communities.

The investment comes in line with the UAE-based company’s efforts to make its housing units more energy efficient and environmentally friendly, according to a press release on Monday.

Moreover, the funding will offset 19,000 total carbon dioxide (tco2) per year and cut utility consumption by a total of AED 12 million annually in the 13 communities.

Aldar also noted that the project will promote efficiency across a number of its hotels, schools, commercial, leisure, retail, and residential buildings.

The plan was developed in accordance with the owners’ associations of the communities, which are managed by Provis, Aldar’s real estate property management firm.

HP Aengaar, CEO of Provis, said: “Aldar's new pledge will enable us to further increase our investment in high-impact solutions and modernisation programmes centred around sustainability and the environment.”

He noted: “It will also allow us to continue building on previous achievements and enhance the overall real estate experience for investors, owners, and tenants.”

During the first half (H1) of 2022, Aldar witnessed a jump in net profit attributable to the shareholders to AED 1.47 billion,