Abu Dhabi real estate pivots to green
29 November 2022
| This article is the second in a series that captures key highlights from the Abu Dhabi Real Estate Roundtable jointly held by MEED and Mashreq on 28 September, discussing the trends shaping the way forward for the emirate’s real estate sector. Participants at the closed-door event included government, business and financial stakeholders. |
Tapping into investor demand for sustainable property development could help Abu Dhabi propel its real estate sector to new heights, according to leading industry experts gathered at the Abu Dhabi Real Estate Roundtable.
“Globally, there is a growing call for ESG adoption and sustainable development,” said Anthony Taylor, senior executive officer at Masdar Green REIT, speaking during the high-level discussion organised by MEED and Mashreq on 28 September.
“Investors are increasingly looking for ‘responsible’ investment opportunities and evaluate companies based on specific ESG practices criteria. This highlights the rise in recognition of the climate crisis and how it must be addressed in the real estate industry.
“Now that there is the necessary awareness of the need for climate action, we must continue to take small steps that will have a big impact in the future,” said Taylor.
Growing demand
Stakeholders are already witnessing demand for properties that meet high environmental standards in the emirate.
“To give you an example, Siemens has a global mandate for their office buildings to meet a minimum LEED Gold certification and they chose to base their regional HQ in Masdar City, which is already home to one of the largest clusters of low-carbon buildings in the world,” said Francisco Galan, director at Masdar Green REIT and head of development and portfolio management at Masdar City.
The German multinational’s regional headquarters in Masdar City is the first LEED Platinum-certified office building in Abu Dhabi and one of the first assets acquired by Masdar Green REIT in 2020.
Major decisions, such as headquarter location, highlight again the investor and tenant appetite for sustainable real estate options. The Masdar Green REIT gives investors that option by investing in sustainable income-generating real estate assets, with a primary focus in Masdar City. This REIT also provides a vehicle through which third-party, sustainable developers can monetise their assets, attracting both real estate developers to Masdar City, and aspiring local and international sustainable investors
Francisco Galan, Masdar Green REIT
The demand and supply for sustainable products are interlinked. Demand will drive the creation of the product and vice versa.
“Unless there is change demanded for your product, you will continue to build things the same old way,” said a senior representative from a real estate development company. “It is indicative that people want a certain kind of lifestyle and will commit to projects that support this.”
In January 2022, Abu Dhabi developer Aldar announced The Sustainable City project, to be jointly developed with Diamond Developers at a value of AED1.8bn ($490m).
The community will comprise townhouses, apartments and retail spaces, spanning an area of 397,000 square metres on Yas Island. A core part of the development is its sustainability factor. It will be powered by renewable energy and incorporate practices around energy efficiency, recycling and indoor vertical farming.
Aldar is also the first real estate company in the Middle East and North Africa (Mena) to secure a sustainability-linked loan. In 2021, it signed a five-year AED300m facility with HSBC that connects interest rates payable to achieving sustainability targets.
READ: Key highlights from the first Abu Dhabi Real Estate Roundtable
Positive change
According to stakeholders at the roundtable, the relatively young responsible investing landscape is evolving rapidly. However, there are numerous challenges around the harmonisation and consistency of data, measurement and maintaining high standards in the real estate industry.
Organisations need to start somewhere, and the considerations made today by backing and introducing these priorities in key projects and developments can help create incremental positive change for the future.
Even as demand for sustainable products rises, issues such as upgrading existing properties and a hesitancy to embrace the shift still linger.
“One of the initiatives we have recently introduced in another Dubai property portfolio has been ARC reporting on all assets to highlight, to both tenants and shareholders, some of the lower levels of sustainability these assets are currently achieving,” said Masdar REIT’s Taylor.
He explained that the motivation behind this initiative is to emphasise the need for improvement at both the asset level and, in some cases, tenant behaviour as well.
Retrofitting is another tactic that the government and developers are turning towards as they seek to upgrade existing assets to higher standards.
In a recent announcement, Aldar said it would invest AED25m ($6.8m) to energy retrofit 13 of its residential communities. The investment will offset 19,000 tonnes of carbon dioxide emissions annually and reduce utility consumption by AED12m across the communities.
READ: Retrofit can be a realistic route to net zero
Abu Dhabi’s Mubadala Investment Company has placed responsible investing at the core of its business. Against the backdrop of climate action, the energy transition and the role of business in society, it is continuing to integrate principles of investing responsibly into its decision-making and asset management processes.
To help build fluency and institutionalise ESG, Mubadala has established a dedicated, responsible investing unit to support its business along this journey.
Implementing change is not easy, and getting people on board with green investment strategies can be challenging, given this is a relatively new investment landscape.
Yet industry players state that partnerships can help achieve sustainable value creation while delivering tangible change and positive impact. A call to action is needed and banks can be seen supporting such efforts by confirming their position to finance projects that meet responsible investing criteria.
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At a glance: Sustainable development in Abu Dhabi National targets For example, the Estidama building design certification system is geared at measuring the environmental performance of built structures from planning all the way through to the decommissioning stage. Within Estidama, the Pearl green building rating system provides minimum criteria that buildings and villas in the emirate must meet from a sustainability aspect. A dedicated Environment Vision 2030 defines five priority areas (climate change; clean air and noise pollution; water resources; biodiversity, habitats and cultural heritage; and waste management) to ensure integration among three key pillars: environmental, economic and social. Abu Dhabi Global Market Keeping in line with national and international demand for sustainability, ADGM has increasingly turned its focus towards green finance practices and supporting ESG-led investments. 2019 saw the launch of the Abu Dhabi Sustainable Finance Declaration by the ADGM. The declaration, supported by over 46 public and private sector entities, aims to increase the quality and depth of green financial products in the emirate, and to create a thriving, sustainable finance industry. In June 2021, Abu Dhabi was ranked fourth-highest in the Mena region and 50th globally on the Global Green Finance Index. Masdar City Masdar City is also home to the International Renewable Energy Agency (Irena) headquarters, a global intergovernmental organisation providing insights and consultancy support regarding energy transition. Stemming from efforts in Masdar City is a green real estate investment trust (REIT), the first of its kind in the region, which directs funds towards sustainable properties within the city. Launched in 2020, the Masdar Green REIT provides investors with responsible investment options. Earlier this year, the REIT signed a financing commitment of a $200m green loan with First Abu Dhabi Bank (FAB) to facilitate portfolio growth. As of December 2021, the REIT’s portfolio was valued at AED980m ($267m), marking a valuation gain of AED32m ($8.7m) over the year. |
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Firms submit Mid Island Parkway prequalifications18 August 2026

Abu Dhabi’s Modon Infrastructure has received expressions of interest and prequalification statements for the next phase of Abu Dhabi’s Mid Island Parkway Project (MIPP), which will be developed as a public-private partnership.
Modon Infrastructure will act as the lead developer and will hold a majority equity stake in the project company. It will award contracts for engineering, procurement and construction; operations and maintenance; and project advisory services.
Phase two of the MIPP involves constructing about 11 kilometres (km) of highways, comprising a mix of three-, four- and five-lane sections. The highways will connect the Um-Yifeenah, Al-Jubail, Al-Sammaliyyah and Sas Al-Nakhl islands to Khalifa City and the E10 road.
The scope also includes the construction of three interchanges – E20, E10 and Dumbbell – on Al-Sammaliyyah Island.
The project includes several major structures, including the E20 interchange, which will feature cast-in-place box-girder and void-slab bridges, and the E10 interchange, which will feature cast-in-place box-girder bridges. It also includes I-girder bridges between Raha Beach West and Sas Al-Nakhl Island, as well as a causeway at Sas Al-Nakhl Island.
Further elements include a cast-in-place balanced cantilever bridge between Sas Al-Nakhl Island and Al-Sammaliyyah Island; a tunnel between Al-Sammaliyyah Island and Bilrimaid Island; and a cut-and-cover tunnel on Bilrimaid Island. Another tunnel will connect Bilrimaid Island to Um-Yifeenah Island.
Abu Dhabi awarded three packages for phase one of the MIPP in 2024. The contract for Package 1A was awarded to a joint venture of Turkish contractor Dogus Construction and UAE firm Gulf Contractors. Package 1B was awarded to a joint venture of Yas Projects (Alpha Dhabi Holding) and China Railway International Group. Beijing-headquartered China Harbour Engineering Company and the UAE’s Agility Engineering & Contracting Company won the contract for Package 1C.
Phase one starts at the existing Saadiyat Interchange, connecting the E12 to the MIPP, and ends at the recently constructed Um-Yifeenah Highway.
It comprises a dual main road with a total length of 8km, including four traffic lanes in each direction, two interchanges, a tunnel and associated infrastructure works.
READ THE AUGUST 2026 MEED BUSINESS REVIEW – click here to view PDFSaudi Arabia builds for the global stage; Rising uncertainty creates fresh set of challenges in the Maghreb; Gulf banks remain robust in the face of geopolitical tensions.
Distributed to senior decision-makers in the region and around the world, the August 2026 edition of MEED Business Review includes:
> WORLD CUP: What the 2026 World Cup means for Saudi Arabia 2034> MARKET FOCUS: Maghreb fortunes diverge> INDUSTRY REPORT: GCC banks prove resilient amid turmoil> LEADERSHIP: Private capital and the GCC infrastructure inflection> INTERVIEW: Developers look beyond standalone solarTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/18830452/main.png -
Adnoc selects contractors for new LNG project in the UAE18 August 2026

Abu Dhabi National Oil Company (Adnoc) has selected contractors for a design competition it is overseeing for a major project to build a new liquefied natural gas (LNG) export facility along the UAE’s eastern coast.
The proposed onshore LNG liquefaction facility – whose precise location Adnoc has yet to reveal – will have a nameplate output capacity of 4 million tonnes a year (t/y) and will mainly serve export purposes, MEED reported in June. The facility will receive sales-gas-quality feedstock via pipelines from Adnoc’s gas processing facilities in Abu Dhabi and will export LNG via a loading jetty.
MEED previously reported on Adnoc’s intention to execute work on the project through a design competition or front-end engineering and design (feed)-to-engineering, procurement and construction (EPC) contest.
Under this model, the project operator selects contractors to carry out feed work. The operator then awards the EPC contract to the contractor with the most competitive feed proposal, while compensating the other contestants for their work.
The Abu Dhabi energy giant has selected the following three entities to undertake feed work on the planned onshore LNG liquefaction facility, according to sources:
- Saipem (Italy) / Larsen & Toubro Energy Hydrocarbon (India)
- Technip Energies (France) / JGC Corporation (Japan)
- Tecnimont (Italy)
Adnoc issued draft letters of award to the selected contractors between 11 and 12 August, the sources added.
In addition to the contractors picked by Adnoc, MEED previously reported that the following contractors were shortlisted for the feed-to-EPC contest:
- McDermott (US)
- Samsung E&A (South Korea)
- Wison (China)
MEED reported that Adnoc issued the expression of interest (EoI) document for the planned LNG facility project on 2 June, with contractors submitting responses by 5 June.
Given the strategic importance of the project, Adnoc is understood to be fast-tracking the tendering exercise, issuing the main tender for the feed-to-EPC contest within days of the EoI submission. The company sought proposals from participating contractors by 1 July, sources said.
In its EoI document, Adnoc said it intends to award the main EPC contract in the third quarter of this year.
Adnoc has yet to specify where it plans to build the LNG complex, stating only in the EoI document that it will be located at a coastal site in the UAE.
MEED understands Adnoc may be considering a site near one of the UAE’s eastern port facilities in the emirate of Fujairah. The blockade of the Strait of Hormuz in recent months has increased interest in prioritising exports and maritime trade through ports on the Gulf of Oman.
The scope of work on the planned LNG facility covers the following units:
LNG facilities:
- An onshore LNG liquefaction facility in a coastal location, with a nominal output capacity of 4 million t/y;
- Process units necessary to bring sales feed to a liquefaction-quality feed gas (i.e. carbon dioxide removal, dehydration, mercury removal and total sulphur reduction);
- Common facilities including inlet receiving facilities, refrigerant storage and flares;
- Utilities to support the facility, allowing it to be self-sufficient, including but not limited to local power generation and any necessary tie-ins;
- LNG export facilities, including a jetty and berth;
- Structures including control buildings, amenities, a laboratory, a warehouse, workshops and administration buildings, to fully support the plant operation.
LNG storage facilities:
- LNG storage tanks, handling of boil-off gases (BOG) and potentially a BOG reliquefaction unit to facilitate major shutdown operations for bidders opting to compete with a single liquefaction train option.
Feed gas supply:
- Supplying and installing an additional identical gas compressor to be located at an existing compression station near Adnoc Gas’ Habshan complex in Abu Dhabi, to provide additional capacity in an existing gas pipeline system;
- A new feed gas pipeline, approximately 160 kilometres long, to route sales gas quality feed gas from an existing pipeline network to the LNG facility.
Modifications to upstream facilities (alternative scope):
- Installation of sulphur removal beds in Habshan to bring feed gas to required LNG quality at the upstream gas conditioning facility, rather than at the LNG facility. This may be selected by bidders to avoid additional investment for processing the regeneration gas.
Construction facilities:
- Temporary construction facilities, laydown area and material offloading facility, to support EPC execution requirements;
- Construction labour accommodation camp.
Adnoc LNG output capacity
Adnoc has an LNG liquefaction capacity of 6 million t/y, which is set to more than double to 15 million t/y when its under-construction LNG terminal complex in Abu Dhabi’s Ruwais enters operations in 2028.
The upcoming LNG export terminal in Ruwais will have the capacity to produce about 9.6 million t/y of LNG from two processing trains, each with a capacity of 4.8 million t/y.
Adnoc awarded the full EPC contract and reached the final investment decision for the Ruwais LNG terminal project in June 2024. A consortium of France’s Technip Energies, Japan-based JGC Corporation and Abu Dhabi-owned NMDC Energy – a subsidiary of NMDC Group – was awarded the $5.5bn EPC contract. In March of that year, Adnoc issued a limited notice to proceed to the consortium of contractors led by Technip Energies for early EPC works on the Ruwais LNG terminal project.
The complex will feature process units, storage tanks and an export jetty for loading cargoes and LNG bunkering, as well as utilities, flare handling systems and associated buildings.
The planned LNG facility will run on electric-powered rotary equipment and compressors instead of gas-fired units. Adnoc awarded a $400m contract in October 2023 to US-based Baker Hughes for the supply of all-electric compression systems for the project. The LNG trains will run on energy-efficient Baker Hughes technology, including compressors driven by 75MW electric motors.
Adnoc has also signed agreements with international energy companies to divest a total stake of 40% in the Ruwais LNG project. UK energy producer BP, Mitsui & Co, Shell and French energy producer TotalEnergies will each hold 10% stakes in the Ruwais LNG terminal project, with Adnoc retaining the majority 60% stake in the facility.
Adnoc Group subsidiary Adnoc Gas will acquire its parent company’s 60% stake in the Ruwais LNG facility at cost in the second half of 2028, when first production from the complex is due.
To date, Adnoc has secured offtake agreements totalling 8 million t/y, representing approximately 90% of the Ruwais LNG project’s output capacity.
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Saudi Arabia extends bid deadline for Round 7 solar projects18 August 2026

Saudi Arabia’s principal buyer, Saudi Power Procurement Company (SPPC), has extended the deadline for developers bidding for four solar projects under the seventh round of the National Renewable Energy Programme (NREP).
Round seven of the NREP comprises solar photovoltaic (PV) and wind independent power producer (IPP) projects with a combined capacity of 5,300MW. The renewables programme is being led and supervised by the Ministry of Energy.
The four solar PV projects comprise:
- 1,400MW Tabjal 2 solar PV IPP (Tabrijal, Al-Jouf province)
- 600MW Mawqqaq solar PV IPP (Mawqqaq, Hail province)
- 600MW Tathleeth solar PV IPP (Tathleeth, Aseer province)
- 500MW South Al-Ula solar PV IPP (Al-Ula, Medina province)
The projects were tendered in January, with submissions previously expected by 30 August. The new deadline is 13 September.
The programme also includes the 1,300MW Bilgah and 900MW Shagra wind IPPs. The bid submission deadline for these projects is 14 September.
As previously reported by MEED, procurement for the seventh round of the NREP opened in August 2025 when SPPC issued a request for qualification.
In January, MEED reported that 16 developers qualified to bid as both managing and technical members for the four solar PV projects. A further six companies qualified to bid as a managing member only.
For the wind IPPs, SPPC qualified 13 developers in the managing and technical members category, and a further six companies in the managing member category only. The request for proposals for both wind and solar IPPs was issued that same month.
The renewable energy programme aims to supply 50% of the kingdom’s electricity from renewable energy by 2030.
Earlier rounds under the NREP have already put in place large capacities. Last October, SPPC awarded contracts to develop and operate five renewable energy projects under round six of the NREP.
These comprise four solar PV IPP projects and one wind IPP project with a total combined capacity of 4,500MW.
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Construction begins on phase two of Cairo Metro Line 418 August 2026
Egypt’s National Authority for Tunnels (NAT) has begun implementing the second phase of Cairo Metro’s Line 4, spanning about 27 kilometres.
The main construction works contract was awarded to a joint venture of local firms, including Arab Contractors, Hassan Allam, Petrojet and Concord Engineering & Contracting.
Cairo Metro Line 4 will stretch from Fustat station to Zahraa Nasr City station in New Cairo. The line will comprise 21 stations, 15 underground and six elevated.
According to data from regional projects tracker MEED Projects, the scope also covers:
- Construction of a tunnel route starting from Al-Fustat station, following Salah Salem Road, and intersecting with the sixth metro line at Sayeda Aisha station
- An extension along Hafez Ibrahim Street, intersecting the Shinzo Abe Axis and linking Ahmed Al-Zomor and Al-Mithaq streets
- A section running via Nasr Road and Nasr City to Anwar Al-Mufti Street, with an interchange with the East Nile Monorail at Aviation station
- Construction of a depot at the Omra El-Gasima site
- Integration of interchange stations with existing lines, including Line 1 and Line 2
- Construction of structures over and under major roadways, including the Ring Road and Cairo-Suez Road
- Earthworks and site preparation, including elevated foundations and underground excavations
- Construction of all other associated infrastructure
Local media reports said construction work on the first phase of Line 4 is expected to be completed in 2028.
The joint venture of Arab Contractors, Hassan Allam, Petrojet and Concord Engineering & Contracting is also undertaking the main works on the first phase.
The Japan International Cooperation Agency (Jica) provided half of the $4bn funding required for Line 4’s first phase.
The media reports added that NAT is currently studying the third and fourth phases of Line 4.
The third phase aims to connect the Ashgar Gardens and Al-Hosary areas via a rail line spanning more than 16km.
The fourth phase will be more than 38km long and will connect the Al-Rehab area with the capital’s international airport east of Cairo.
Once completed across all phases, Line 4 will link 6th of October City with southern and eastern Cairo, the New Administrative Capital and Capital International airport, making it one of the longest transport networks in the country.
In April last year, MEED reported on Egypt’s future rail project plans, which include eight key projects spanning metro, high-speed rail and light rail transit.
READ THE AUGUST 2026 MEED BUSINESS REVIEW – click here to view PDFSaudi Arabia builds for the global stage; Rising uncertainty creates fresh set of challenges in the Maghreb; Gulf banks remain robust in the face of geopolitical tensions.
Distributed to senior decision-makers in the region and around the world, the August 2026 edition of MEED Business Review includes:
> WORLD CUP: What the 2026 World Cup means for Saudi Arabia 2034> MARKET FOCUS: Maghreb fortunes diverge> INDUSTRY REPORT: GCC banks prove resilient amid turmoil> LEADERSHIP: Private capital and the GCC infrastructure inflection> INTERVIEW: Developers look beyond standalone solarTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/18825481/main.jpg -
RTA opens bridge connecting DWTC to Al-Mustaqbal Street18 August 2026
Dubai’s Roads & Transport Authority (RTA) has opened a new 500-metre, two-lane bridge connecting traffic from Dubai World Trade Centre (DWTC) and One Central to Al-Mustaqbal Street.
The bridge will reduce travel time from DWTC to Al-Mustaqbal Street from around 10 minutes to about two minutes during major events.
The bridge is part of the $172m Al-Mustaqbal Street Development Project. The wider scheme includes around 2,000 metres of bridges and tunnels, along with a pedestrian bridge on Al-Sukook Street, and runs from Zaabeel Palace Street to Financial Centre Street.
As part of the project, Al-Mustaqbal Street will be widened from three to four lanes in each direction, increasing overall capacity by 33% to 8,800 vehicles per hour in both directions.
The RTA added that this is expected to cut end-to-end travel time along the corridor from 13 minutes to six minutes.
Three tunnels, totalling 1,500 metres, at the intersection of Al-Mustaqbal Street and Trade Centre Street are scheduled to open in February 2027.
These include a three-lane tunnel towards Deira with a capacity of 4,500 vehicles per hour, a two-lane tunnel for left-turn movements between the two streets, and a one-lane tunnel serving One Central.
The RTA said that the overall project completion rate has reached 85%.
In February last year, MEED exclusively reported that the RTA had selected local firm Wade Adams to undertake improvement works on Al-Mustaqbal Street.
Planning for growth
The Dubai 2040 Urban Master Plan was launched in March 2021. Its launch referenced studies indicating that the emirate’s population will reach 5.8 million by 2040, up from 3.3 million in 2020. The daytime population is set to increase from 4.5 million in 2020 to 7.8 million in 2040.
In December 2022, Sheikh Mohammed Bin Rashid Al-Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the 20-Minute City Policy as part of the second phase of the Dubai 2040 Urban Master Plan.
In addition to the road projects, the RTA’s Dubai Metro Blue Line extension and Dubai Metro Gold Line form part of Dubai’s plans to improve residents’ quality of life by cutting journey times, as outlined in the policy.
The policy aims for residents to have 80% of their daily requirements within a 20-minute journey, on foot or by bicycle. This goal will be achieved by developing integrated service centres with all necessary facilities and increasing population density around mass transit stations.
READ THE AUGUST 2026 MEED BUSINESS REVIEW – click here to view PDFSaudi Arabia builds for the global stage; Rising uncertainty creates fresh set of challenges in the Maghreb; Gulf banks remain robust in the face of geopolitical tensions.
Distributed to senior decision-makers in the region and around the world, the August 2026 edition of MEED Business Review includes:
> WORLD CUP: What the 2026 World Cup means for Saudi Arabia 2034> MARKET FOCUS: Maghreb fortunes diverge> INDUSTRY REPORT: GCC banks prove resilient amid turmoil> LEADERSHIP: Private capital and the GCC infrastructure inflection> INTERVIEW: Developers look beyond standalone solarTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/18822891/main.jpg