< Previous| CITY FOCUS | 10 FEBRUARY 2023 THE SUSTAINABLE CITY - YAS ISLAND SELLS OUT IN LESS THAN 24 HOURS The Sustainable City – Yas Island, launched by Aldar Properties in partnership with Diamond Developers, has achieved 100% sales within 24 hours of its public launch. Reflecting the resounding success of Aldar’s first partnership on development, sales at the first phase of the sustainability-centric community reached over $272.5 million and the remaining 352 townhouses and condominiums have now been released for sale. A total of 512 homes were available during the first phase of the project, with 76% of the units purchased by expatriates, of which 24% were overseas investors, demonstrating Aldar’s growing international customer base. 87% of customers bought their first Aldar property indicating the creation of a new customer base seeking a more sustainable lifestyle. 66% of buyers were under the age of 45, which also demonstrates the strong demand for sustainability-driven properties and communities among new customer segments and younger generations. Commenting on the rapid sell- out of the development, Jonathan Emery, CEO at Aldar Development, said: “From formulating its Green Agenda to declaring 2023 as the Year of Sustainability, the UAE continues to prioritise sustainable development. “The success we have seen with The Sustainable City – Yas Island is an endorsement of the government’s forward-thinking policies, and is a clear indication that buyers are looking for more sustainable ways of living.” The sales launch of The Sustainable City – Yas Island was the first fully- paperless sales event for Aldar, where customers were able to complete their transactions digitally, using electronic signatures. The digitalisation of real estate transactions, which was enabled through the introduction of the UAE’s Law on Electronic Transactions and Trust Services (E-Law), offers an enhanced and more convenient experience for customers and a more environmentally friendly way to complete property purchases. Construction of the project will commence in Q2 2023, with first handovers expected in Q4 2025. Aldar Properties and Diamond Developers has sold a total of 512 homes, with 76% units purchased by expatriates Construction at The Sustainable City - Yas Island will commence in Q2 2023. 76% of units were purchased by expatriates.| PROJECTS | 12 FEBRUARY 2023 Following the successful launch of Portofino, Venice, Malta, Nice, and more, DAMAC Properties has launched the ‘Ibiza’ cluster, based on the Spanish island popular for its nightlife and beaches. Spanning 4.1 km2, DAMAC Lagoons is DAMAC’s third master community development in Dubai. DAMAC LAGOONS IBIZA CLUSTER Saudi Entertainment Ventures (SEVEN) has signed an exclusive partnership agreement with Warner Bros. Discovery to bring purpose-built indoor adventures centres to Saudi Arabia which integrate WB Discovery’s media content. With this partnership, SEVEN is supporting the goals of PIF to transform the entertainment landscape of the kingdom. DISCOVERY ADVENTURES CENTRE PROJECT Construction Week Middle East covers the most anticipated, innovative, and creative project launches in January 2023, ranging from ultra-luxury residentials to purpose-built adventure centres| PROJECTS | FEBRUARY 2023 13 LAUNCH Danube Properties has unveiled its largest real estate project, Viewz, a set of twin high-rise towers that, once complete, will deliver apartments and sky villas, with a development value exceeding $381 million. The project will redefine luxury living through Aston Martin- furnished interiors, common areas and amenities. Solidifying a commitment to long- term sustainability, Magnom Properties and Forbes joined hands to announce their plans to build an innovative, environmentally responsive tower set in the heart of the rising New Administrative Capital in Cairo, Egypt. The project is envisioned by Adrian Smith + Gordon Gill Architecture. VIEWZ BY DANUBE PROPERTIES FORBES INTERNATIONAL TOWER14 FEBRUARY 2023 | A DAY IN THE LIFE | A DAY IN THE LIFE OF SVEIN JOHAN STUB GENERAL MANAGER, JOTUN PAINTS ABU DHABI 5:15am: My day starts. I take a shower while my wife prepares coffee. Then the race for time starts as I have three kids that need to be woken, dressed, fed, and combined (in that order). They are off to school and I have 15 precious minutes to enjoy my breakfast and scan the newspapers. 8:00am: After saying good morning to as many people as possible, I usually check the sales and some other KPIs while having my second cup of black coffee. My day tends to be rather unpredictable, but this is something I actually appreciate as it makes life interesting. From a holistic view, I attend meetings. As we have many projects and initiatives, some smaller, some bigger, a lot of my time is spent meeting with diverse teams for different projects. 12:00pm: Lunchtime. We have a fantastic team of cooks who prepare an amazing lunch for us. I try to sit with various staff from different departments and levels. It gives me a good understanding about how they are doing in addition to having a great meal. 1:00pm: Signatures and approvals time with coffee cup number three. 2:00pm: Again, every day is different, I could be attending project meetings, visiting project sites, dealers, safety walks or product testing exercises. For example, I recently joined a test of a new brilliant innovation at an external site in order to be better prepared when I join the innovation board meeting that comes with the position. If time allows, I would typically try to check up on as many functions as possible. Talk, ask questions, and get inspiration from my brilliant staff. 6:00pm: Family time, dinner, driving my boys to football practice, then perhaps some assistance with homework, practising times tables and other activities. Whilst certainly not always possible, my EA has a standing request to avoid back-to-back meetings. 8:00pm: I put my kids to bed. It usually drags out until 8:30pm after reading or singing for them. I still wonder how my ugly singing can make someone sleep, but it works. Soon after, I aim to go for a quick run as I always burden myself with an unrealistic yearly target of kilometres. This year the target is 1,000 kilometres – it most likely will not happen. I’ll then spend some time with my wife. We either talk and plan or watch an episode of a TV show. Thereafter, it’s nice and quiet. My wife goes to bed a few minutes before me, which gives me a little email time. It’s a very bad habit as my brain is switched on again, but I can’t help it. At least I try to restrain myself from replying as there is no need to stress my colleagues. 11:00pm: Time for bed. I also stream the latest news broadcast while brushing my teeth.TOLL FREE 800 GLAZE (45293)TOLL FREE 800 GLAZE (45293) | TEL: +971 6 5353 123 (SHARJAH)TEL: +971 6 5353 123 (SHARJAH) | TEL: +971 2 5502 390 (ABU DHABI)TEL: +971 2 5502 390 (ABU DHABI) | MAIL: info@glaze.aeMAIL: info@glaze.ae www.glaze.ae/ MARBLE | GRANITE | QUARTZITE | ONYX | TRAVERTINE | LIMESTONE | PRECIOUS STONE Surface Solutions, Designed By Nature| OPINION | 16 FEBRUARY 2023 With the development of tech-powered solutions, the construction industry is steadily moving towards lower carbon emissions and ef ciency To further the UAE’s sustainability vision and net-zero ambitions by 2050, the need for a tech-enabled construction sector is more critical than ever before. Modern construction technologies such as Building Information Modelling (BIM), Digital Twins, artificial intelligence (AI), and machine learning have gained significant traction in the past few years. Their adoption was further escalated in the post-pandemic climate where efficiency and capacity reduction were major priorities for business survival. The adoption of such technologies has proven to support industry leaders in streamlining projects effectively, managing timelines and schedules, and connecting multiple devices and equipment through Internet of Things (IoT). Most importantly, the use of technology was key in the implementation of top tier innovative projects like the Museum of the Future. In the long-term, innovative solutions powered by technology will be the main, if not the most important facilitator, in the creation of smart and sustainable cities. In 2022, the construction sector and other industries that were heavily digitalised faced the challenges that come with the integration of technology, including talent management, multi- stakeholder collaboration and building tech-centred strategies. Although businesses will continue to tackle these challenges, it is expected that industry leaders will move beyond adjustment processes to make in-roads in adopting tech-powered solutions. Accelerated adoption of AI According to PwC, the annual growth in the contribution of AI to GDP will range between 20 – 34% in the Middle East by 2030, with the fastest growth being in the UAE followed by the Kingdom of Saudi Arabia. With the sharp increase in environment- friendly operations in the UAE and the passing of legislation to support the proliferation of green projects, the use of AI is expected to become a pillar in furthering the country’s sustainability agenda. Powering big data analytics, the use of AI has proven effective in reducing energy consumption and improving efficiency by optimising and improving processes. In addition, its predictive maintenance ability contributes to fewer errors, accurate calculation, injury reduction and overall, less carbon footprint. In August 2022, DEWA announced its investment in AI and machine learning to improve energy supply, reduce costs, and carbon emissions through smart grid integration and improving the performance of photovoltaic solar panels. The digital arm of DEWA is becoming the first public digital utility worldwide to use autonomous systems for renewable energy and storage. This investment will likely further the adoption of these technologies to accelerate the country’s sustainability goals. Digital Twins According to the Global Market Trajectory and Analytics Report 2022 by Business Wire, the global Digital Twins market is TECHNOLOGY: THE KEY TO ADVANCING THE SUSTAINABILITY AGENDA The adoption of technology was further escalated in the post-pandemic climate. [Image: Shutterstock] Prof. Dr Mutasim Ibrahim Nour of Heriot-Watt University Dubai.FEBRUARY 2023 17 | OPINION | Industrial Fasteners and Fixings Construction Fixings Assembly and Installation Systems Fastener Manufacturing Technology Storage, Distribution, Factory Equipment Information, Communication and Services Join the fastener and fixing industry’s global gathering 21 23 MARCH 2023 MESSE STUTTGART, GERMANY www.fastenerfairglobal.com FIND OUT MORE! 9th International Exhibition for the Fastener and Fixing Industry Or g OOOOr g ani isser er : MMMMMMMM acaca ckkkkkk -Br-Br-BrBrBBr rooooooooo okokokok kk s Ess EsEsE xxh hihi bbbbbbbbitbitbitbi ittiioni on ss expected to reach $35.5 billion by 2026, growing at a CAGR of 36.9% over this period. Digital twin technology uses real-time data to create a simulation of a physical object and predict performance. Additionally, it can help optimise all aspects of design, operations, and management by operating in real time to track and minimise emissions during construction. Digital twins can also perform more advanced tasks such as predicting traffic flow or controlling individual room temperature. As such, this technology can help prevent delays in construction projects and regulate budgets more effectively. Research by Oxford University shows that 90% of the world’s infrastructure suffer from delay and overbudgeting. In fact, Ernst and Young’s Digital twin report in 2021 shows that digital twins could save up to 35% on the project and building costs and help reduce carbon emissions within cities between 50% and 100%. Smart grids The use of data collected by IoT devices and sensors is a major feature of smart cities. These data can be used to improve infrastructure, public utilities and services, which are necessary to achieve energy efficiency targets. Therefore, a generation of low carbon microgrid can transform the design of densely populated cities and helping to operate utility systems to encourage energy efficiency. Using the Internet of Things (IoT), organisations can cost-effectively implement microgrids. Smart grids allow predictive maintenance and can create smaller groups from larger electrical utility grids, which enables energy supply optimisation. In addition, microgrids can also reduce dependency on utilities by helping cost reduction by regulating peak usage charges and manage distributed generation and demand more effectively. As such, smart grids are believed to have the potential to revolutionise the distribution of electricity worldwide. With the development of tech-powered solutions, the construction industry is steadily moving towards lower carbon emissions and efficiency. As the focus in 2022 was adapting to the integration of technology in the industry, the construction industry will move further towards implementation to accelerate the UAE’s journey to net-zero by 2050. Prof. Dr Mutasim Ibrahim Nour is the associate director of External Relations and Industry Engagement at Heriot-Watt University Dubai. The use of technology was key in the implementation of the Museum of the Future. [Image: Supplied]18 FEBRUARY 2023 | CLIMATE ACTION | There is a strong case for climate action that will help the population in the Middle East and North Africa as well as businesses adapt to the growing climate realities and future shocks, says Maroun Kairouz, head of MENA, World Economic Forum PIVOTING TOWARDS SUSTAINABILITY IN 2023 The Middle East and North Africa (MENA) region was rarely out of the news during 2022, whether it was Qatar’s hosting of the World Cup and with it the region’s football dreams or the Arab States-China Summit in Riyadh, and the swift spread of anti-government protests in Iran. This pattern is set to continue into 2023 during which Turkey will celebrate its centenary as a republic, the UAE will host COP28, and global investors will come knocking at the doors of the region’s sovereign wealth funds if the World Bank’s forecasts about a global recession are correct. Beyond the eye-catching headlines, it will be a formative year for the region in several other ways. The decisions its political and business leaders make and targets they set in the coming year about the climate change agenda, the rights of women and economic reform, will shape MENA – and the world – for decades to come. For the oil-producing Gulf states, the economic outlook for 2023 is robust, and the activities of OPEC will be closely watched. According to the World Bank’s forecasts, GCC economies grew by 6.9% in 2022 while also keeping inflation under control. It is estimated that by 2027, their cumulative oil windfall will be $1.3 trillion in additional revenues. | CLIMATE ACTION |FEBRUARY 2023 19 | CLIMATE ACTION | Countries like Saudi Arabia and Iraq will have the funds not only to offset high food prices – and with this, a domestic cost of living crisis of the sort witnessed elsewhere in the region – but to invest. This offers the perfect opportunity to start making the economic model more sustainable. To be able to do this, governments in the region must maintain economic discipline, commit to reform, pursue economic diversification and – importantly for investors – display agile, well-explained decision-making. Deepening integration offers a relatively straightforward policy measure to stimulate and increase the resilience of the region’s economies. As things stand, just 18% of trade is intra-regional, compared to 34% in East Asia. Recent IMF studies have highlighted how the skills deficit in the region stands at around 70%. Such a sizeable percentage is of concern and highlights the need to reimagine the region’s education systems with a focus on enabling personalised life- long learning. There is ample spending on education in the region, underlining the need for a skills revolution, which would enable the next generation to contribute to the success of their country’s economic competitiveness. With funds and a focus on climate change, 2023 should be the year when Gulf States work on strategy with their regional counterparts to chart MENA’s course towards net-zero. With the region hosting consecutive COP summits, the climate change discourse remains with the Middle East, offering the region a rare chance to find a collective voice on this issue. To support this, the forum is convening a group called Leaders for a Sustainable MENA, which will be tasked with jointly identifying the most efficient routes to decarbonisation and reducing the gap with other regions in terms of corporate sustainability practices. This is important because MENA is at serious risk from the effects of the changing climate, in large part because it is warming at twice the global average. It is already prone to hot, dry weather, but this is developing into regular periods of drought. Most of the region’s capital cities are forecast to face at least four months of intense heat annually. During 2022, the region suffered a series of dust and sand storms, blamed on the increasingly arid conditions. These caused infrastructure damage, affected transport, destroyed crops and increased health problems. The growing periods of extreme heat will make some areas uninhabitable, placing heightened stress on both crop production – almost 70% of which is rainwater-fed – and already scarce water resources. If global temperatures rise by 2%, rainfall in the region is projected to fall by 20%-40%. If this wasn’t enough, rising sea levels will affect coastal areas and potentially salinise water in coastal aquifers and wells. Economically, the outlook is equally dire: according to the IPCC, water- related catastrophes are projected to take 14% off the region’s GDP by 2050 (compared to a global average of 0.5%). Lower economic growth rates along with an increasingly uninhabitable environment marked by food and water insecurities, will result in growing socio- economic inequalities, and with this, the likelihood of public unrest. Global energy security The Middle East and North Africa is expected to be pivotal to global energy security. Endowed with ample natural resources and with among the lowest unit costs for renewable energy generation, the region can position itself at the heart of ensuring that the energy transition is sustainable – ultimately supporting planetary health – and just. This is important because soberingly, a recent IEA report suggested that during 2022, the number of people globally without access to electricity increased for the first time to 775 million. All this makes more than a strong case for climate action that will help MENA’s populations and businesses adapt to the growing climate realities and prepare for future shocks. Pursuing measures now can only reduce the future cost, both of adaptation and disaster management. Research from the forum and PwC suggests that increasing supply chain resiliency today minimises businesses longer-term operational risks and has the potential to generate $1.7 trillion in net benefits by 2030. The region’s largest companies are responsible for much of MENA’s carbon emissions; in fact, the top 20 state-owned enterprises produce the same amount of GHG emissions as Canada. Making their operations sustainable won’t be easy, given how most are at the core of the fossil fuel industry. But their size, influence and innovation potential ensure that their actions resonate disproportionately. To support this, the forum will sign an MoU with the UAE at the Annual Meeting, calling on the private sector to share the burden in terms of emissions reductions. It is imperative that business and government work together if the region is to make any substantive progress. Feeding into its longer-term success in this area, as well as the wider economy, is progress on gender equality. Maroun Kairouz is the head of Middle East and North Africa at the World Economic Forum. Representational image [Shutterstock]Next >