FAB Properties and Abu Dhabi Energy Services (ADES) Sign Memorandum of Understanding (MoU) to Promote Energy Conservation

Published January 31st, 2022 - 05:34 GMT
FAB Properties and Abu Dhabi Energy Services (ADES) Sign Memorandum of Understanding (MoU) to Promote Energy Conservation
During the event
Highlights
FAB Properties has partnered with Abu Dhabi Energy Services (ADES)

In line with national efforts to create a more sustainable and prosperous future, FAB Properties, the real estate service provider which specialises in end-to-end property solutions, has partnered with Abu Dhabi Energy Services (ADES), Abu Dhabi’s energy services market maker, to reduce water and electricity consumption at FAB Properties facilities and buildings.

The commitment aligns with the Abu Dhabi Demand Side Management and Energy Rationalization Strategy (DSM) 2030. Under the MoU, ADES will look at retrofitting FAB Properties’ facilities and buildings with energy saving solutions that reduce power and water consumption to enhance energy efficiency and sustainability.

Jasim Al Ali, CEO of FAB Properties, said: “As one of the UAE’s leading real estate service providers, FAB Properties is committed to supporting all government initiatives aimed at minimising our carbon footprint and delivering sustainable value to our society. We look forward to working closely with Abu Dhabi Energy Services to assess current electricity and water consumption trends and develop a plan towards a more sustainable future for all.”

Khalid Mohamed Al Qubaisi, CEO of ADES, said: “Our partnership with FAB Properties will allow ADES to explore the implementation of the latest energy saving technologies across its buildings and facilities. Our solutions will result in significant savings in electricity and water consumption and reduce CO2 emissions, to further advance the national sustainability agenda.”

ADES was announced in January 2020 with a core mandate to create the energy services sector in the Emirate of Abu Dhabi through identifying, sourcing and funding solutions that can deliver tangible savings in both electricity and water consumption to reduce costs and enhance energy efficiency. Most recently, ADES announced a series of agreements to retrofit more than 30 buildings across the Emirate of Abu Dhabi during the World Future Energy Summit 2022.

FAB Properties – the subsidiary of the largest bank in the UAE - manages a diversified portfolio of more than 20,000 units across different market segments. Its offering is characterised by the quality of services it provides to customers and the high standards it adopts in delivering them.

FAB Properties’ mission will remain to offer exceptionally high caliber services in the professional real estate market, creating sustainable long-term value for its clients and for the landlords who utilise its management services for their properties. Its continued vision is to establish itself as a pioneer real estate solutions provider in the UAE and the region, offering high quality end-to-end property solutions built around the customer.

Background Information

First Abu Dhabi Bank

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

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