Environmental clauses added to FM contracts
Majid Al Futtaim Properties introduce green clauses and star ratings to contracts for shopping malls, hotels and mixed-use community projects to reduce eco-impact
Majid Al Futtaim (MAF) Properties launched two initiatives for tenants to achieve significant enhancement on the eco-impact of the retail sector: ‘Green Lease Clauses’ and ‘Green Star’ rating. The move made MAF Properties the first developer in the Middle Easter to start such a commitment.
As a result, starting August 1, all tenant agreements now include a ‘Green Clause’ outlining MAF’s commitment to work with the tenant towards mitigating their impact on the environment. Amongst other criteria, under the new clause, tenants must also aim to obtain Leadership in Energy and Environment Design (LEED) Certification from the US Green Building Council.
Additionally, the firm’s ‘Green Star’ ratings system initiative for mall tenants will see the company assess tenants’ fit out design against a number of green criteria including water efficiency, energy and atmosphere, materials and resources, indoor environmental quality, innovations in operations and disabled access.
