Partners with International Real Estate Partners (IREP) to pare down maintenance and energy costs
As part of its sustainable cost saving initiative, Lootah Real Estate Development has optimized a smart building technology to significantly reduce energy consumption and the costs of maintenance and utilities for building tenants and owners.
The real estate developer has partnered with International Real Estate Partners (IREP), a leading global facilities and asset management company, in a project called IREPort Energy Bureau.
This collaboration was forged to improve building operations and sustainability of all Lootah properties by identifying head on problems related to energy consumption, faulty maintenance equipment and systems, amongst others.
“The instant alerts provided by the IREPort Energy Bureau project will make sure that any issues and concerns as regards maintenance and utilities are prevented or resolved in a timely manner,” affirmed Saleh Abdullah Lootah, CEO, Lootah Real Estate Development.
In the first phase of the project, IREP will audit every Lootah property to assess its energy performance. IREP will also retrofit a number of underperforming equipment, specifically in the cooling system and lighting system, with latest technology and smart systems.
Lootah targets their partnership with IREP to carry on with their upcoming projects, as part of their commitment spanning over five decades to deliver high-quality infrastructure.
