Embracing sustainability will enhance real estate transparency leading to impactful Net-Zero gains for Saudi Arabia: JLL

Riyadh, Kingdom of Saudi Arabia – gulftech: JLL, a leading professional services firm specializing in real estate and investment management, hosted a roundtable to discuss the importance of sustainability in enhancing the transparency of the real estate market.

According to JLL’s latest Global Real Estate Transparency Index, Saudi Arabia maintained its position in the top 50 global rankings – boosting its position at a regional level. Underscoring the need for positive climate action, the roundtable discussed how transparency and sustainability are two of the most powerful forces influencing the modern management of real estate.

Today, as sustainability emerges to be one of the primary drivers of transparency, companies, and governments, are increasingly feeling the pressure to demonstrate tangible progress in decarbonizing the built environment and boosting resilience.

As a result, the speed of change across the many aspects of sustainability in the last five years alone has been staggering, shifting from building certifications and fast-payback improvements, such as the installation of LED lighting, to more complex data capture, disclosure, and benchmarking efforts.

The discussion focused on the vulnerabilities faced by the Middle East and North Africa region while highlighting the concerted efforts made by the Kingdom to bring about green innovation in real estate. These include the introduction of Mostadam and Saaf® Certification Program as well as the Ministry of Municipal and Rural Affair’s building in Riyadh that is being retrofitted by the National Energy Services Company (Tarshid), accelerating Saudi Arabia’s pace to accomplish its goal of being Net Zero by 2060.
Saud Mohamed Al-Sulaymani, Country Head of JLL Saudi Arabia, said, “With Saudi Arabia’s leadership introducing a slew of initiatives to fast-track the real estate industry’s momentum toward decarbonization and improve market transparency, the country has emerged as one of the world’s top 50 most transparent real estate markets. To further strengthen the Kingdom’s position in the region, greater collaboration and consistent dialogue between industry peers and experts is crucial. Our roundtable provided a platform for this. We are committed to shaping the future of real estate for a better world and will continue to build on our strong track record to support the country’s sustainability efforts as it moves forward on its transformational journey towards Net Zero.”
He also emphasized how hosting COP 27 and 28 provides an excellent opportunity for the region to shed light on its climate change risks and vulnerabilities, as well as showcase its action plans to mitigate and adapt to it.
“As a company with a proven commitment to sustainability, we are proud to be playing a vital role in Saudi Arabia’s Net Zero market makeover,” said Thierry Delvaux, CEO of JLL Middle East, Africa, and Turkey. “We understand the significant impact we can create through the work we do in Saudi Arabia. In addition to reducing our emissions, we are also making strategic investments in sustainability services and capabilities, leveraging the breadth and strength of our global platform and local expertise to collaborate with our clients and partners in achieving the country’s 2030 vision.”

Apart from Saud Mohamed Al-Sulaymani, and Thierry Delvaux, the roundtable also featured a KSA real estate market overview presentation by Dr. Miaad Alqurashi, Research Manager for KSA at JLL.
JLL was one of the first real estate consultancies to establish itself in the Kingdom of Saudi Arabia with remarkable growth since over a decade ago with offices in Riyadh, Jeddah, and Al Khobar. With over 300 employees in the Kingdom as of today, it has supported the Saudi vision and has successfully advised some of the Kingdom’s biggest real estate developments and Giga projects including the King Abdullah Financial District, Prince Mohammed Bin Salman Non-Profit City, and other landmark projects by the Diriyah Gate Development Authority.