Aldar Properties PJSC has announced the launch of a 'Cooling as a Service' ("CaaS") project which will reduce the annual carbon footprint of the cooling baseline at Al Rayyana Complex and Eastern Mangroves in Abu Dhabi by up to 30% over a 10-year period. The project, managed by Johnson Controls, will utilise energy-saving measures and advanced technologies to cut approximately 26,880 tonnes of CO2 emissions from the two Aldar assets. This initiative will support Aldar to deliver its Net Zero Plan, which includes a science-aligned target of being Net Zero in Scopes 1 and 2 greenhouse gas (GHG) emissions by 2030.

purchased cooling is included within Scope 2 GHG emissions. Johnson Controls' CaaS solution is set to transform the built environment, reducing a building's carbon footprint related to cooling by as much as 30%. CaaS is an innovative business-model that aims to make energy-efficient cooling more affordable and accessible, representing a shift from traditional product-centric business models to a service-oriented approach, while also achieving sustainable results.

The solution will enable Aldar to outsource the cooling services in its assets, with end-users paying for the cooling they receive, and in turn reducing spend on utility bills and energy use; taking advantage of a solution without risk and upfront capital requirements. The key components of the project include upgrading cooling equipment with energy conservation measures (ECMs), providing premium maintenance coverage, and ensuring fair and accurate billing to tenants of both iconic developments. The CaaS model, implemented by Johnson Controls, places a strong focus on delivering effective outcomes to buildings, representing a departure from traditional product-centric business model in favour of a service-oriented approach.

Both the Al Rayyana Complex and East Mangroves are mixed use developments owned and managed by Aldar. Al Rayyana Complex features a three-level shopping mall within the residential destination comprising of 1,500 homes. Aldar Properties PJSC is the leading real estate developer, investor, and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi's most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar's c. 69 million sqm land bank and includes three businesses: Aldar Projects, which is Aldar's dedicated project delivery arm and the manager of its project management business; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt. Aldar Investment houses Aldar's core asset management business comprising over AED 35 billion portfolio of asset management.