Majid Al Futtaim Receives Global Real Estate Sustainability Benchmark ‘Green Star’ Rating for the 11th Consecutive Year

Dubai, United Arab Emirates, December 10, 2024: Majid Al Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, has received the esteemed Green Star designation from the Global Real Estate Sustainability Benchmark (GRESB) for the 11th consecutive year, reflecting the company’s commitment to high standards in environmental, social, and governance (ESG) practices.

Majid Al Futtaim has also been recognised as the Region Sector Leader, Non-Listed, in the Residential, Asia, category. GRESB serves as the foremost standard for evaluating ESG performance in global real estate and infrastructure sectors. The assessment covers various performance indicators, such as energy use, greenhouse gas emissions, water management, waste reduction, and stakeholder engagement.

Majid Al Futtaim excelled in GRESB’s assessment, scoring 87 in the Standing Investments benchmark —11 points above the GRESB average — and earning full marks in Leadership and Policies. Maintaining its Green Star designation, Majid Al Futtaim boosted its score in the Development benchmark by seven points, raising its star rating from three to five stars.

Ahmed El Shamy, CEO, Majid Al Futtaim Properties, commented: “At Majid Al Futtaim, we view sustainability as a trade-on – not a trade-off to profitability. We take pride in setting ambitious standards for sustainability and governance in real estate, and the Green Star designation reinforces our commitment to responsible growth. Looking forward, we will continue advancing our ESG initiatives, creating a positive impact for our customers, communities, colleagues, and partners.”

At the heart of Majid Al Futtaim’s sustainability strategy is the Dare Today, Change Tomorrow roadmap to address material risks and opportunities, ensuring the company manages the issues that matter most to its stakeholders while responding effectively to the ESG issues that impact operations.

 As part of its sustainability roadmap, Majid Al Futtaim has validated near-term science-based targets (SBTs) for each Operating Company through the Science Based Targets initiative (SBTi). These SBTs guide Majid Al Futtaim’s yearly emissions reductions based on climate science. We are members of The Climate Pledge, which demonstrates our commitment to regularly measuring and reporting greenhouse gas (GHG) emissions, implementing decarbonisation strategies aligned with the Paris Agreement, and offsetting any remaining emissions with high-quality solutions to achieve net-zero carbon emissions annually by 2040.