The ongoing worldwide inflation has had some interesting resonances in the UAE, especially the Dubai real estate sector. To curb rising construction and operation costs, realtors are developing environmentally friendly ‘green' sustainable building communities. Consequently their number is on the rise in Dubai.

The UAE is currently 8th among countries that are committed to developing eco-friendly building projects and construction concepts. At the recently concluded 2-day conference ‘Building Tall 2008' organized by the Middle East Economic Digest in Dubai, builders and developers explored avenues by which existing construction methods could be made environmental friendly and cost effective.

The 'green' approach makes better business sense because it lays emphasis on cutting energy costs, water conservation and waste recycling. By resorting to bio-degradable building materials and approach, building maintenance costs can be reduced by 35 per cent to 50 per cent. Energy expenditure is curtailed by 30 per cent, Carbon dioxide emissions by 35 to 50 per cent and Waste recycling costs by 50 to 90 per cent.

Indeed, as Dubai establishes itself as a pioneering market for iconic building projects, the city's planners are eager to protect its image as a stickler for eco-friendly norms and practices. As the real estate sector comes of age in Dubai, the emirate is mulling over implementing a ‘building code' for construction companies and developers. The innovative measures are expected to have long-term effects on the market as well; as long as construction and operation costs are controlled, Dubai will continue to offer investors competitively priced properties with guaranteed high returns.