UAE-listed developer Aldar Properties is set to build a sustainable city project worth 1.8 billion dirhams ($490 million), as part of its strategy to achieve sustainable development goals, according to a media report.
The project in Yas Island will feature 864 units, with construction set to commence in the fourth quarter of 2020 and complete in two years and six months, The National reported on Tuesday.
The developer is looking to establish itself as a “socially responsible” company in the real estate business and has plans to develop projects with positive environmental impact.
On Monday, it launched a portfolio-wide energy management project to cut its energy consumption by approximately 20 percent across 80 of its properties, including hotels, schools, commercial, leisure, retail and residential buildings.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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