DAMAC Celebrates Successful Participation at WETEX 2023

The Water, Energy, Technology, and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) wrapped up a successful 25th edition at Dubai World Trade Centre. 

Local and international specialists in energy, water, sustainability, green technologies, renewable and clean energy, green buildings, electric vehicles, sustainable cities, and other vital sectors converged to showcase their latest technologies, innovations, and solutions. 

As a Diamond Sponsor of the prestigious event, DAMAC Properties had the opportunity to showcase its ongoing and upcoming sustainable real estate projects, emphasising its dedication to building environmentally friendly and socially-responsible communities.

DAMAC Properties uses recycling systems, sustainable irrigation systems, energy recovery ventilation and PV solar systems. The company also showcased its DAMAC Lagoons community, for which DAMAC is currently applying for a LEED gold certification, which will make it the first master community in the UAE to receive the rating under the LEED Cities and Communities Rating System. The project has adopted green and sustainable features throughout its development phases, from design to construction and operation. DAMAC also presented its Safa One de GRISOGONO.

This year’s edition of WETEX and DSS comes as a precursor to the United Nations Framework Convention on Climate Change (COP 28), to be hosted by the UAE at Expo City Dubai, which aims to achieve great strides towards a brighter and more sustainable future for humanity.

Hussain Sajwani, Chairman and Founder of DAMAC, said: “We are proud to have been a part of this prestigious event and to have contributed to the important discussions surrounding sustainable real estate development. Our commitment to sustainability is growing to become a part of our business ethos. As a responsible corporate entity, we understand corporate governance responsibility and the need to adopt sustainability and sustainable building practices in our core business. We will continue to pursue our sustainability goals by networking with experts and specialists in order to commit to our ambitions of building a safe, secure and green future for our children.” 

At the event, key officials took part in panels and a seminar to highlight the need for sustainability in today’s built environment. DAMAC Properties led the charge in stimulating panel discussions on the sustainable evolution of the real estate sector in line with government objectives.

Francis Arul, DAMAC's Chief Information Officer (CIO), highlighted the transformative impact of technology and its role in reshaping our industry. Their insights laid the groundwork for the urban landscapes of tomorrow and a sustainable real estate industry, solidifying Dubai's position as a leader in the global green economy.

Anas Mustafa, Senior Vice President -MEP, delved into the future of sustainability in construction, design, and operations, offering insights into DAMAC’s innovative ideas. 

Sustainability efforts

DAMAC has been accelerating efforts in its green goals to align with the UAE government’s net zero ambitions as well as emerge as a sustainability leader in the real estate sector.

Recently, the developer partnered with e& to provide Charge&Go electric vehicle charging solutions to DAMAC’s communities. Charge&Go is the UAE's first national Charge Point Operator (CPO), providing access to electric vehicle charging solutions across the seven emirates via a single application. 

The collaboration enables the installation of charging stations across DAMAC Hills and DAMAC Hills 2, addressing the increasing demand for electric vehicles. 

In addition, DAMAC achieved an outstanding Environmental, Social, and Governance (ESG) Risk Rating of 18.3 points, as assessed by Sustainalytics, a globally recognised leader in ESG research, ratings, and data. 

DAMAC’s ESG Risk Rating of 18.3 points signifies a low overall ESG risk level, showcasing the company’s commitment to managing and mitigating ESG-related risks effectively. Sustainalytics rates companies on a scale of 0 to 100, with lower scores indicating a lower level of unmanaged risk.

Sustainalytics, in their assessment, specifically acknowledged DAMAC’s strong risk management practices in critical areas, including product governance, bribery and corruption, and occupational health and safety. The company achieved an impressive negligible risk rating (0-10, the lowest level of risk) in several crucial criteria, including emissions, effluents and waste, product governance, bribery and corruption, community relations, and occupational health and safety.

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