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Plans for a 60-kilometre green spine have been announced in Dubai. 

Developed by URB, the project aims to enhance urban mobility with solar-powered trams, reduce carbon dioxide emissions by one million tonnes annually, and transform Sheikh Mohammad Bin Zayed Road – a stretch of road lined with high-end apartment complexes and shopping malls which links the city to the rest of the emirates – into a sustainable corridor.

The announcement comes hot on the heels of the launch of a national programme to promote environment-friendly building practices by the energy and infrastructure ministry. For Dubai residents who have just come out of an incredibly hot summer with temperatures that feel like almost 60°C, the prospect of having cool outdoor spaces that would make the city more liveable is something to look forward to. 

In the latest episode of the Eco-Business Podcast, I speak to a representative from Diamond Developers, the real estate firm that masterminded the 'Sustainable City' concept in Dubai, launched in 2016 as the first residential community initiative in the city that will meet high environmental statements. We discuss what it means to design a green corridor in harsher climates. 

There is also the broader question of whether these mega infrastructure projects can go beyond hype and meet stricter performance-based standards. More needs to be done to push the needle on transparency in the regional real estate sector. 

Wind power for Egypt 

Renewable energy firms Masdar and Infinity Power will build a 200-megawatt wind farm in Egypt’s Gulf of Suez, following a power purchase agreement with the Egyptian Electricity Holding Company. The wind farm is projected to reduce Egypt’s emissions by 403,672 tonnes of carbon dioxide equivalent annually upon completion.

Tackling desalination emissions

The Abu Dhabi Department of Energy (DoE) has introduced a regulatory policy for low-carbon water certificates, aimed at reducing carbon emissions from desalination. The scheme complements the DoE's clean energy certificates established in 2021, promoting overall sustainability in its energy sector.

Kuwait's first sustainability sukuk

Nasdaq Dubai has listed US$500 million in sustainable trust certificates from Warba Bank, marking Kuwait's first sustainability sukuk (Sharia-compliant bonds). The issuance was oversubscribed by 3.6 times, with orders reaching US$1.8 billion. Funds from the five-year bond will go towards supporting eligible sustainable projects.