• 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 environmental impact within our developed communities and managed destinations. Reducing and recycling waste is a key focus within our plan and this collaboration with Rebound allows us to not only broaden our positive impact but provide our customers with an added incentive to think more responsibly about waste.”

The two entities will convene a diverse group of stakeholders from the UAE, including relevant government authorities, to setup the necessary infrastructure, engage community members and generate a meaningful supply of recyclable plastic to be traded on the Rebound platform. Once successful, the intention is to roll out the programme to other Aldar owned and managed communities.

The partnership further highlights the economic value of a versatile and useful commodity, that is otherwise being mismanaged and discarded as waste. Given the importance of embedding a reduce, reuse, recycle mindset, households and communities are key to reversing the damage being caused to our planet by waste.

Rebound Plastic Exchange has come to be known as the trusted marketplace whose astute certification protocol distinguishes it from the lot, inspiring more recycling endeavours across the board. Circular in essence and function, Rebound’s strategic pillar rests upon advancing sustainable solutions for the people and planet through industry-wide standardisation, certification, and quality assurance. Ultimately, this delivers positive economic impacts to the recycling industry, empowers the local community, and helps reduce the impact of plastic pollution throughout.

Maryam Al Mansoori, Rebound’s General Manager said: “The road to 2030 is fast-approaching with only seven years to go to meet global demands. The time has come to implement Net Zero solutions rather than spreading plain and wasteful problems. Precisely because of our determination towards circularity, we have noticed more and more businesses reaching out to us to adopt and trade quality assured plastics, equip them with frameworks to facilitate exchange, and highlight the tangible benefits of transparent plastic trading. We look forward to beginning this new impact focused journey with Aldar and the communities it serves in Abu Dhabi.”

Aldar recently committed to becoming a Net Zero carbon business by 2050 and its plan will span the whole lifecycle of its value chain. Within the plan, Aldar has committed to enhancing waste management during the design, build, and use phases of its real estate assets, prioritising diversion from landfill, increasing greywater recycling, and supporting the local waste sector.

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For further information, please contact:
Media
Obaid Al Yammahi
Aldar Properties

Sherri Chua
Brunswick
ALDAR@brunswickgroup.com

About Aldar

Aldar Properties PJSC is the leading real estate developer and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar’s c. 69 million sqm land bank and includes three businesses: Aldar Projects, which manages Aldar's fee-based development management business including government housing and infrastructure projects; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.

Aldar Investment houses Aldar’s core asset management business comprising over AED 30 billion portfolio of investment grade and income-generating real estate assets diversified across retail, residential, commercial, hospitality, and logistics segments. Aldar Logistics owns a 70% stake in Abu Dhabi Business Hub which owns a strategically located warehousing, industrial, and office complex in Industrial City Abu Dhabi with a total net lettable area of c. 166,000 sqm. Aldar Investment also manages three core platforms: Aldar Education, Aldar Estates, and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, with almost 33,000 students across 28 operated and managed schools, and a growing network of 3,000 educators from over 100 nationalities, offering a wide range of curriculum and ancillary services such as a Teacher Training Academy. Aldar Estates consolidates Aldar’s Retail Operations alongside existing Residential and Commercial real estate operations within Provis and will further include Community Management under one integrated property management platform. Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat, in addition to Ras Al Khaimah. It includes Aldar’s portfolio of 13 hotels, comprising over 4,250 hotel keys and managing operations across golf courses, beach clubs, and marinas.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash-generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long-term and sustainable business in order to provide ongoing value for its shareholders.

Aldar is driven by a vision to be a leading real estate developer and manager in the region by playing a key role in the development of quality, comfortable, desirable destinations that people can live in, work at and visit.

For more information on Aldar please visit www.aldar.com

About Rebound Plastic Exchange

The market for recycled plastic is fragmented, complex and opaque, making it difficult to source quality, trusted materials, and maintain supply. This is both a major environmental problem, and a lost economic opportunity as post-consumer plastic that has the potential to be recycled is a valuable, raw material. Rebound Plastic Exchange, backed by IHC, has been founded to address these challenges through a trusted global marketplace for plastic recycling, facilitating a movement of quality-assured feedstock across borders that is regulatorily compliant.