Memon Investments stands firm in commitment to adhere to Dubai 'green building code' across future projects
The adoption of sustainability technologies early on in the construction process has proven to lessen the cost impact of achieving a holistically sustainable design and satisfactory Leadership in Energy and Environmental Design (LEED) rating, according to recently conducted industry estimates. In line with this, Memon Investments, a leading Dubai-based property developer and part of the international business conglomerate, the Memon Group of Companies, revealed its firm commitment to adhere to Dubai's 'green building code' from the primary stages of construction of its five new projects within Jumeirah Village (JV), which are collectively valued at over AED 1.3 billon.
According to the same analysis, the on-cost for the buildings to achieve 'LEED Gold' ranges from an additional 1 per cent to 3 per cent depending on the building type; however, if sustainable design is integrated into the project from the start, additional on-costs for sustainability can be lowered. Furthermore, the costs for achieving 'LEED Gold' for buildings that did not benefit from early integration would be between 9 and 19 per cent more than standard. In line with its aims to ensure the success of its environmental initiative, Memon Investments has recently partnered with the Middle East Centre for Sustainable Development (MECSD), who will be responsible for the implementation of sustainable development and 'green technologies' for its projects in Jumeirah Village.
"Our efforts to adopt and implement 'green' initiatives are part of our commitment to give back to our customers for their unwavering support for all our projects," said Ahmed Shaikhani, Managing Director, Memon Investments. "By taking these steps, we are increasing the potential of our projects to yield higher investment returns while effectively reducing ecological footprint, which is one of the common offshoots of rapid advancement of developing economies such as Dubai."
'Gardenia I & II', an AED 150 million project located in Jumeirah Village, is the latest project launched by Memon Investments, and among its five developments to undergo 'green building' processes to achieve LEED Gold rating. Marking the developer's initial foray into Jumeirah Village, the luxurious residential development features a total of 170 residential apartments. Designed by Dimensions Engineering Consultants (DEC) to offer residents Mediterranean-inspired units, the project has an escrow account with the Commercial Bank of Dubai in compliance with the requirements of the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD).
"During a period when merely designing and constructing sustainable designed buildings is not enough; we at Memon Investments believe that it is also vital to ensure that the operation of the facility after occupancy is done in line with 'green building' concepts. Consequently, we have strategic and outlined plans to implement water and energy efficiency initiatives across all our projects to gain actual results and sustain the success of our efforts for the benefit of both our customers and the environment," concluded Shaikhani.
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About Memon Investments LLC
Founded as the property development arm of the international business conglomerate, the Memon Group of Companies, Memon Investments has grown to become a leading property player in the region offering a diversified portfolio of premium property projects. Guided by a tradition of excellence, the developer's intense focus lies within its core competencies, specifically acquisition, design and development, consultancy, leasing and management of properties. Leveraging the Memon Group's extensive real estate development experience, Memon Investments' UAE portfolio comprises of prestigious residential projects including 'Champions Towers I, II, III, and IV' and 'Frankfurt Sports Tower I' in Dubai Sports City; 'Gardenia I & II' in Jumeirah Village, and its inaugural commercial venture - 'Cambridge Business Centre' in Dubai Silicon Oasis, all of which embody the developer's trademark top-notch quality and uniqueness.
Having delivered over 30,000 units across the globe with a presence in 90 countries spread across Asia, Africa, Middle East and Europe, the Memon Group of Companies is presently commemorating its 30th year of delivering unique offerings and services to its global customers. In addition to its extensive expertise in the real estate market, the Group has also built a strong reputation for its unwavering support for various causes such as poverty alleviation, environmental conservation and academic development. As a socially-aware international corporation, the Group has devoted 19 years in support of the Rabia Charitable Foundation and the Rabia Relief Fund.
For any questions or to arrange an interview please contact:
Ms. Princy Philip
Sr. Manager - Marketing & Corporate Communications
Memon Investments LLC
P.O. Box 41950, Dubai, U.A.E
Tel: +971 4 2688111,
Fax: +971 4 2626455
Mob: +971 50 2590860,
Email: princy@memon.ae
CommuniGate Middle East
P.O. Box 66861, Dubai, U.A.E
Tel: +971 4 3988134
Fax: +971 4 3988137
Email: info@communigateme.com
© Press Release 2009
