Dubai: Dubai will complete its “star rating system” appraisal by the end of 2017, now that all of the work related to plots and properties in Deira district are done, according to a top official at the Land Department.
The rating system will apply to all buildings completed before 2010, and will play a key role in determining future rental rates of properties. It applies to both residential and commercial properties.
Work has already started on the Bur Dubai mapping.
The properties and projects of more recent vintage already comply with a higher design and build code that entities such as the Land Department and Dubai Municipality have put in place.
“We have the tools to ensure sustainable development — the star rating and a green build code are all part of the process,” said Sultan Butti Bin Mejren, director-general of the Land Department. “The green rating we have is based on best practices taken from LEED, Prime and Green Mark certifications.
“But it’s an entirely voluntary process for developers to sign up for … we intend to keep it that way. And these ratings are not exclusively for one set of build parameters, but cuts across the lighting, electricity use as well as the building materials.”
Dubai has been raising the bar on the development side of things, with the announcement of plans for a construction index being the latest. It is also part of the United Nations Global Compact, which has in place 17 “sustainability development goals” as part of its mandate. So far, seven developers in Dubai have signed up for it, including Dubai Properties Group and Union Properties. More could do so shortly, the director-general added.
He also confirmed that next year will see a growth in transactions across real estate categories. Currently, real estate makes up more than 15 per cent of the emirate’s GDP.
