UAE-based HRE Development announced on Tuesday that it has entered into a strategic partnership with global carbon asset manager Econetix to support its goal of delivering environmentally responsible real estate.

The collaboration, announced on Earth Day, centres around the developer’s latest project—Skyhills Astra—located in Dubai Science Park, Al Barsha South.

Launched in February 2025, the Skyhills Astra development incorporates sustainable building materials, energy-efficient design, and climate mitigation measures.

To address unavoidable emissions, the developer has committed to investing in certified carbon removal projects targeting the elimination of one million tonnes of CO₂ from the atmosphere, the press statement said.

In addition to environmental goals, the carbon removal initiatives will deliver social benefits, including educational support for children, aligning with HRE’s broader sustainability framework.

“This Earth Day represents a milestone for HRE Development as we embark on our most ambitious journey yet,” said Wissam Breidy, CEO of HRE Development. “Our partnership with Econetix reflects our deep commitment to going beyond construction and building with purpose.”

“By integrating high-quality carbon solutions into property development, they’re proving that impactful climate action and economic progress can go hand in hand," added Jakob Zenz, Founder of Econetix.

According to the Dubai Land Department (DLD), the Skyhills Astra project will comprise 1,614 residential units and 86 commercial units, with completion targeted for the second quarter of 2028.

(Writing by Deva Palanisamy; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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