Gulf

Due to the growing climate challenges the world is facing, the importance of climate finance is increasing in increasing climate resilience in different regions of the world. world, especially in the most affected countries, as adequate funding contributes to supporting mitigation and adaptation efforts and projects and enables these countries to respond to promote the consequences of climate change and sustainable development. The report “Global Climate Finance Landscape 2023” issued by the Climate Policy Initiative shows that although global investments in climate projects will increase to $1.3 trillion between 2021 and 2022, to reach the goal of 1.5 degrees Celsius set by the Paris Agreement increase the value of these. deposits with five. As part of its entrepreneurial efforts to lead global climate action, the UAE’s position has been highlighted in facilitating efforts to mobilize climate finance through a number of global initiatives that have contributed to promoting mobility climate and increasing international cooperation in several areas of environmental sustainability and aid. the lock switch.
The tenth session of the World Green Economy Summit, organized by the High Council of Energy in Dubai, the Dubai Electricity and Water Authority, and the World Green Economy Group, puts special emphasis on the issue of conventional finance -climate among its main topics this year, as it is an essential factor for increasing climate resilience, with the participation of an elite group of expert leaders and experts in the field of green finance from around the world .
His Excellency Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Energy Council, Managing Director and CEO of the Dubai Electricity and Water Authority, and President of the World Green Economy Group said: “The World Green Economy Summit has established as a fundamental pillar of the global climate movement and a platform for dialogue on the various issues of the green movement. The tenth session of the summit builds on the outcomes of the twenty-eighth session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which was hosted by the UAE last year in Expo City Dubai The most visible outcomes of (COP28) are the historic “Emirates Agreement” which outlined a new Pathway for international climate action that includes an ambitious and comprehensive action plan, and provides a included several important decisions, including the launch of the “Emirates Framework for Global Climate Resilience,” which aims to support measures to adapt to the effects of climate change at the global level through a number of pathways specific that supports flexible climate development goals. This year, the summit puts special emphasis on the issue of climate finance as an important tool for building a green, resilient and just future by using the necessary finance and investments to close the gap to bridge the gap that already exists between developed and developing countries and support the communities that are most affected. , and in line with local and global efforts to use financing mechanisms to address the consequences of climate change.”
The COP28 conference saw the launch of the “Altera” Fund by the UAE, which aims to find the solutions needed to collect and promote capital in an urgent way that will contribute to the implementation all parts of the new climate economy system. This fund allocates approximately 92 billion dirhams ($25 billion) to support climate investments capable of accelerating the transition to a sustainable and climate-neutral economy, and more than 18 billion dirhams ($5 billion) to mitigate risks and encourage investment flows to address the challenges. which limits climate investment opportunities in least developed countries and small island developing countries.
Dr. Walid Al Nuaimi, CEO of Etihad Energy Services Company (Etihad ESCO), said: “Dubai is accelerating in achieving carbon neutrality by adopting innovative energy solutions. Etihad ESCO believes that every building rehabilitation and solar energy installation we undertake represents a new step towards an economically sound city and leads environmental efforts aimed at tackling climate change. The carbon footprint of commercial buildings that Etihad ESCO rehabilitates is reduced by up to 35%.
Florence Polti, Chief Sustainability Officer at Chalhoub Group, said: “Sustainability is an integral part of our operations at Chalhoub Group. Our circular economy report underlines our unwavering commitment to sustainable business models, as we aim to achieve carbon neutrality by 2040. In the dynamic fashion sector, which is responsible for around 10% of CO2 emissions global, initiatives focused on the circular economy are not only an option, but a necessity. The used luxury market in the GCC represents the move towards a circular economy driven by consumer behavior and decisions, luxury companies and brands are changing their strategies and products to meet to global requirements and expectations. The value of this market was between 480 and 500 million US dollars in 2022, with an annual growth of 15%. This trend reflects a major shift in business and economics, where policy makers, regulators, brands, retailers and consumers must collaborate to promote and develop sustainable practices. At Chalhoub Group, we benefit from these insights and ideas to develop our strategy and strengthen our operational processes, so that sustainability is a fundamental pillar of our business.”

LMD Real Estate Development Company, the leading real estate development company in the Emirates, announced the launch of its innovative project, “The Pier Residence,” in Dubai Marina City, with investments estimated at 750 million dirhams to reveal the details of the project in the presence of a large number of… Strategic partners.
The Cide Cide project, which is expected to be delivered in the second quarter of 2027, consists of 274 luxury residences, including one-, two- and three-bedroom apartments with privacy, some with a bath private. To reflect the pinnacle of luxury, with the elegant modern designs and high quality finishes that ensure it meets different lifestyles.
The project is characterized by its location overlooking the waterfront in the vibrant seaside city of Dubai, with stunning views and close proximity to all services. It is connected to Downtown Dubai by an extensive transport network.
Within the project, “LMD Real Estate Development” engages in close cooperation with the “National Bank of Fujairah” as one of the strategic partners, which contributes to promoting further developments in the project in particular, and serving the wishes and vision of the real estate sector in general, and supporting the plans and goals of both parties.

It also contracted with Devmark, a leading company in the field of consulting services with a strong track record in real estate marketing in the Emirates and the world, to be the exclusive sales partner for units in “The Pier Residence” project .
Meanwhile, LMD Real Estate Development Managing Partner Hamad Al Abbar said: “We are pleased to announce one of our most important real estate projects in Dubai. “It confirms our commitment to work towards achieving Dubai’s vision of renewing the real estate scene and enriching it through prestigious mega-projects that will keep up with the rapid growth trajectories and unprecedented local and global demand.” to buy real estate in the emirate. “
Al-Abbar pointed out that Dubai has recently been successful in attracting the world’s wealthy thanks to the procedures to make the purchase of real estate easier for international investors, providing the best return on investment, and a real estate residence visa under real estate investment, in addition. to high-quality infrastructure, and large and diverse real estate projects in the emirate.
Al-Abbar appreciated the efforts of the Dubai Land Department, through its ​​hard work to develop collaboration, partnership and exchange of knowledge about the best practices in the real estate sector, which gave a positive impression on the great growth in sales.
Al Abbar emphasized that Dubai Maritime City will compete with the world’s most famous and popular coastal destinations in the near future, enhancing its position as a global investment destination and making it a attractive to those looking for a profitable product in light. supportive investment environment, diverse projects, and sustainable growth opportunities.
Albbar expects growth in investment returns in the property sector in Dubai to coincide with the continued strong momentum within the market this year and the launch of new property projects, led by growth in demand, revival of the building. economy and tourism with more new residents coming in.