Luxury real estate developer Sobha Realty has achieved an impressive score of 91 in the 2024 annual GRESB assessment, marking a significant improvement from its 2023 score of 72. This achievement highlights Sobha Realty’s steadfast commitment to environment, social and governance (ESG) pillars, strengthened by its second consecutive year of voluntary participation in the GRESB ESG benchmarking. This advancement also positions Sobha Realty among the top 4 percent of global entities striving for excellence in ESG performance and sustainability leadership.
In the 2024 GRESB Development Benchmarking Assessment, Sobha Realty outperformed both global and peer averages, attaining a development score of 65 out of 70. This achievement reaffirms Sobha Realty’s dedication to embedding ESG principles into its design and construction processes, advancing sustainable development across its portfolio.
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Leading among peers
Among its peer group of 23 participants from over 14 countries — including the United States, United Kingdom, Europe, and Australia — Sobha Realty ranked ninth, showcasing its rising influence in the global sustainability landscape.
“Our significant progress in the GRESB assessment exemplifies Sobha Realty’s dedication to sustainability and climate leadership. By centring our ESG goals on sustainable developments, we create meaningful and positive impact, especially in environmental sustainability. Our ambition is to set new standards for sustainable development that benefits our communities, stakeholders, and the planet,” Francis Alfred, managing director of Sobha Realty.
The company’s GRESB assessment success exemplifies its leadership in sustainability and further reinforces its commitment to UAE’s vision for a sustainable future, such as the UAE Net Zero by 2050 strategic initiative, UAE circular economy policy and UAE’s Green Agenda.
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Pioneering strategy
Over the past years, the developer has continuously pioneered high-quality climate reporting with its three comprehensive ESG reports and two greenhouse gas (GHG) assessments, which form the basis of its systematic emissions reduction strategy, further supporting the UAE’s climate goals.
Moreover, Sobha Realty’s Task Force on Climate-related Financial Disclosures (TCFD) report provides valuable insights into climate change impacts outlining robust governance and risk management strategies for a sustainable future.
GRESB is an independent organization providing validated ESG performance data and peer benchmarks, enhancing industry-wide engagement, decision-making, and business intelligence. Its rigorous process consists of data validation, scoring, and peer comparison, ensuring the developer’s performance is held to the highest global standards.
