Aldar Properties has launched a portfolio-wide energy management project to reduce its energy consumption by approximately 20% across 80 assets including hotels, schools, commercial, leisure, retail, and residential buildings. As well as reducing energy emissions, the project will enable Aldar to save approximately AED 40 million per year in energy consumption costs. The project aims to reduce Aldar's carbon emissions by 80,000 tons, electricity consumption by 110 GWh, water consumption by 886,000 m3, chilled water consumption by 23,000,000 TRH, and gas consumption by 726,000 m3 on a yearly basis. In the upcoming phase of the project, the ESCOs will carry out retrofit projects across all 80 assets with an expected completion date in Third Quarter 2022. Upon its successful completion, the ESCOs are required to accomplish the guaranteed energy savings for a period of five years. The measurement and verification of the savings will be done as per the guidance provided in International Performance Measurement & Verification Protocol (IPMVP).