Majid Al Futtaim, a prominent name in shopping malls, communities, retail, and leisure across the Middle East, Africa, and Asia, has been awarded the prestigious Green Star designation by the Global Real Estate Sustainability Benchmark (GRESB) for the 11th consecutive year.
This recognition underscores the company’s dedication to environmental, social, and governance (ESG) excellence.
In addition, Majid Al Futtaim has been named the Region Sector Leader, Non-Listed, in the Residential, Asia, category. GRESB, a global standard for assessing ESG performance in real estate, evaluates factors like energy efficiency, greenhouse gas emissions, water and waste management, and stakeholder engagement.
The company achieved an impressive score of 87 in GRESB’s Standing Investments benchmark, surpassing the average by 11 points, and earned full marks in Leadership and Policies. Notably, its Development benchmark score rose by seven points, elevating its star rating from three to five stars.
Ahmed El Shamy, CEO of Majid Al Futtaim Properties, remarked:
“Sustainability is a trade-on, not a trade-off to profitability. The Green Star designation reinforces our commitment to responsible growth and ambitious ESG standards.”
Central to its sustainability efforts is the “Dare Today, Change Tomorrow” roadmap, addressing key risks and opportunities while responding to stakeholder concerns. Majid Al Futtaim has also validated near-term science-based targets (SBTs) through the Science Based Targets initiative (SBTi), ensuring annual emissions reductions aligned with climate science. As a member of The Climate Pledge, the company is committed to achieving net-zero carbon emissions by 2040 through robust decarbonisation strategies and high-quality offsets.
This latest achievement reaffirms Majid Al Futtaim’s leadership in sustainable real estate development and its ongoing impact on communities and the environment.
News Source: Majid Al Futtaim
