Mall of Emirates developer gets a Green Star

Dubai (Oct 20): Majid Al Futtaim, the leading retailer in Middle East,has achieved the highest “Green Star” status for the second year in a row from the Global Real Estate Sustainability Benchmark (Gresb).

“By embedding [sustainability] in our business we operate as an organisation that focuses not only on profitability, but on making a positive social impact on the lives of those whom we serve,” said Majid Al Futtaim CEO Alain Bejjani in a statement.

The Global Real Estate Sustainability Benchmark survey measures the sustainability performance of real estate portfolios globally. This year, the survey compared 688 companies on a range of measures from energy reduction performance, building certification and stakeholder engagement to quality of sustainability policies, new construction and major renovation.

The “Green Star” status, explains Majid Al Futtaim, implements international best practices in sustainability through the company’s real estate portfolio.

According to the statement, the company increased its performance to 67% in 2015 from 56% in 2013, outperforming the global average performance rate by 12%.

The company also achieved a score of 100% for management of sustainability practices and 95% for the understanding of risks and opportunities to its business.

Ibrahim Al-Zu’bi, the head of sustainability of Majid Al Futtaim for properties, also commented that obtaining a Gresb Green Star has become more challenging each year as companies now see the value of addressing their sustainability performance, becoming more efficient and better at managing sustainability.

Majid Al Futtaim says it has set ambitious goals for 2018 to deliver results across key areas – developing and managing high performance assets that support prosperous communities and, in doing, so deliver pioneering standards across its business.

Founded in 1992, Majid Al Futtaim is the shopping mall, retail and leisure pioneer across the Middle East and North Africa (Mena).

Today, Majid Al Futtaim owns and operates 18 shopping malls, 11 hotels and three mixed-use communities in Mena, with more developments underway in the region. The company holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of 65 hypermarkets and 85 supermarkets in 12 countries.