Tuesday, May 26, 2009

Early adoption of sustainability technologies in construction lessens cost impact of LEED credits


Early adoption of sustainability technologies in construction lessens cost impact of LEED credits

Memon Investments stands firm in commitment to adhere to Dubai ‘green building code’ across future projects

May 26, 2009

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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