People have this general perception that the Middle East lags behind in matters of sustainability. There is the misconception that people in this region lead flashy lifestyles and engage in over-consumption to balance out the ever-increasing wealth from an endless supply of oil. However, when you get to the ground, you soon discover that the situation is far much different, and that sustainability is a concept that many espouse here. Although CMC Markets may have reported falling stock prices due to Middle East political tensions which is true, business in this region remains sustainable due to the following reasons:

A hybrid approach

According to Al Zubi, the head of sustainability at Majid Al Futtaim Properties (MAFP), the Middle East is a recipient of many best practices from around the world. Some countries, such as Singapore, have been able to combine technology and ideas to create a hybrid approach. The hybrid approach is always the best and has proved to be a determining factor in enhancing sustainability. Consequently, the Middle East has seen its malls thrive as a result of espousing gleaming modernity, opulence, and luxury. These malls are now attracting thousands of shoppers from around the globe.

A unique region

Al Zubi avers hat some factors combine to make the Middle East a unique area. Most significant of the factors is the prevailing northwest breeze that creates a comfortable microclimate that is likely to attract many tourists. The construction industry is harnessing this pleasant weather by designing and angling buildings in such a way as to capture the cool breeze. Also, the construction industry is taking a leading role in sustainability standards. For instance, Mashreib has undertaken a regeneration project in Qatar that will have the largest number of LEED buildings, all targeting the gold and platinum status.

Development of own standards

It is not lost to the world that the Middle East is no longer playing catch-up to the rest of the world. International reference points revolve around LEED from the US, and BREEAM from the UK. Most governments in the Middle East have developed their standards to reflect the needs, challenges and local conditions. Qatar has QSAS while Abu Dhabi has installed PEARL. These standards are the pedestals for mounting quality and ensuring efficiency and adherence to international requirements.

Defining quality

The Middle East commitment to ensuring quality is beyond doubt. In the United Arab Emirates, all new state buildings are required to have a minimum of a two-star rating. The effect of this requirement has been the establishment a local green building market that is boosting skills through training. You will note that working in government institution is no different from working for an NGO due to the high standards the Middle East has put into place.

The family connection

The importance of the family has played a great role in the sustainability of business in the Middle East. Al Zubi points out that most of the private companies are owned by families. He argues that it is never about profit or passion, but both. The import of family-owned businesses lies in the creation of jobs in an environment of high unemployment rates. In Lebanon, for instance, one family-owned mall is likely to create two thousand job openings for the local people. You are not likely to read about the impact of families on the economies of Middle East countries because of their stringent culture that demands modesty. Consequently, there may be no reports detailing how many people have gained jobs in family businesses.

A social dimension to sustainability

Sustainability can’t be assured without putting social factors into consideration. Most Middle East countries have taken measures to ensure worker safety, training, and health. You may note that past generations relied on safe working environments in government jobs or corporate companies. However, the current trends are leading to entrepreneurship. Consequently, the UAE awards about 10% of all contracts to Small and Medium Enterprises (SMEs). Boosting the local enterprise is key to sustainability.

Several factors have combined to do sustainable business in the Middle East. Being a unique region with a wealth of resources, and a hybrid approach to development, the Middle East has created a perfect environment for green business. Development of own standards and allowing families to start the business has also gone a long way to boost the economy of the Middle East. The Middle East region is no longer playing catch-up.

There is an often quoted study from 2007 that showed that at that time, 53% of people – or 1.1 billion consumers – strongly preferred to do business with companies with a reputation for being green. Now, we are a whole decade on from that study, and green matters have become more than just a preference for a lot of customers, but a demand. As evidence of the impact of climate change continues to gather, and more and more sustainable alternatives are on offer, companies can no longer see being green as a slight competitive advantage, but as something that could literally be the deciding factor on whether a customer walks away.

Increased Awareness and Increased Scepticism

One of the things that has made the mainstream consumer desire for green businesses clear is, ironically, the fact that companies now make far less of a fuss about their green credentials in their marketing. There was a trend a few years ago of all kinds of big corporations, from oil companies to banks, highlighting their ‘greenness’ in their ad campaigns. This was, of course, an attempt to win the hearts and minds of green consumers as a growing market, however it was overdone to the point where it actually began to make consumers more sceptical of the green claims made in advertising.

Because it is so easy for consumers to fact check online and find out more about what a company is actually doing towards sustainability, it no longer pays off to appear to be taking green matters seriously as a business – businesses have to actually be doing it. It is also no longer something that works as a unique selling point – customers simply expect a business to be doing it transparently.

Investors and Green Businesses

A failure to meet expectations about things like carbon emissions, recycling and sustainability may not just be off putting to consumers, but also to investors. Whether investors themselves have preferences about green policies or not, analysts can see the way consumer trends are going and that, in a choice between two equivalent businesses, the greener one will win out in today’s market. Additionally, thanks to online trading platforms like City Index, there are now more and more casual investors participating in the stock market – people who think the same way as general consumers.

Being Green Actually Reduces Overheads Long Term

All of this so far may make it sound like businesses have to conform on green issues simply because the market expects it, however there are actually some good benefits for businesses in going beyond doing the bare minimum that is legally required of them on sustainability. Being green in operations by, for example, having energy efficient premises, can save a business a lot of money no matter what their scale. Businesses which have to do things like light hundreds of retail branches will save an abundance of money by switching to LED lighting, and when you consider the costs of running and cooling, say, a server farm, it is clear that any savings in energy that can be brought about by being more efficient and green will translate very quickly into money.

It is interesting to see how green business has gone from being something niche to the norm, and hopefully, this will benefit everybody.

The guy sleeping above is Etgar Keret living in a tiny house wedged between buildings in Europe. The real estate market always seems to be on the rise.  A new generation of renters has emerged, and this generation desires different qualities in a rental property than those of the past. Modern tenants are looking for green properties that offer function and sustainability. They can see AirBnBs all over the world. They want the same, and something unique!

Millennials grew up more socially and environmentally conscious. They are more likely to focus on sustainable energy, decreased destruction of native habitats, and a decrease in waste. Here are just some of the ways you can go green with your rental property to entice this young population of tenants.

Seal up Any Cracks or Holes

Have previous tenants complained of the cold? Does it seem that the heater can’t keep up with the demands of cold weather? The property could be losing heat through cracks or openings in walls, windows, and door frames. Your tenants will spend less money on heating and reduce energy usage if they don’t need to crank up the thermostat to stay warm. Inspect your property for any cracks that need sealing. If your property has an old front door, heat could be escaping through a loose or gapped door frame. You may consider installing new doors; some property owners install glass screen doors to serve as an extra protective layer.

Be sure to pay attention to any check any cracks in the ceiling, as heat tends to rise and can escape through the uppermost parts of your home. Improving sealing and insulation can require more than a do it yourself approach; consider using a PACE program from Renovate America.

PACE programs like this specialize in helping property owners access important energy efficient upgrades.

With financing and a network of contractors in one single spot, installing important insulation and sealing is made simple. No sweat off your brow, and a new enticing sustainable feature that can draw in tenants—it’s a double win.

Install a Low-Flow Toilet

Standard toilets account for almost 30% of all indoor water use. Imagine reducing your property’s water usage by about a third. Modern technology has seen an influx of low-flow toilets that use less water to flush waste. Many of these water efficient toilets offer two levers as well—one for flushing urine, and one for flushing hard waste. Your tenants will spend a lot less on their water bill, which is a huge plus for marketing your property.

Purchase an Energy Star Washing Machine

There are many ways to save water, and none as efficient as an Energy Star washing machine. If you install an Energy Star washing machine, you can save as much as 50% more water, when compared to a standard model. As in-unit laundry continues to be a top-desired amenity amongst renters, this investment could be more than worth the payoff.

Why stop at your water bill? Another way to be more eco-conscious when it comes to using energy is to consider lighting. Many people look for rental properties with smart lighting, as it not only minimises your carbon footprint and reduces energy bills, but can provide a sense of calmness to a room. More and more rental properties come with smart devices already installed, as property experts like RWinvest recognise the increase in demand, and like many others, are embracing this trend.

Check for a Leaky Faucet

It may seem minor, but if your property contains leaky faucets, indoors or out, your tenants may be wasting up to 180 showers worth of water per year. Leaky pipes or faucets left untreated can turn into a much more expensive problem if they have cracks or are rusty. Prevent future expenses by solving the issue while it is small and do your part in water conservation in one simple step.

Modify Your Garden

Curb appeal is important, but so is water conservation. If you live in a drought-prone area, then your garden cannot sustain certain plants unless you are willing to water them more often. Many homeowners waste hundreds of dollars every year by overwatering non-native plants in arid climates.

Do yourself and the environment a favor by re-landscaping your lawn for drought-resistance plants. You may be surprised—desert plants come in a variety of lush and vibrant colors that are sure to make your garden stand out. In addition, you will save hundreds or thousands of dollars every year depending on your yard’s size and maintenance needs.

Many states and localities offer rebates and incentives for property owners who make the switch to drought-tolerant landscaping. Check your local laws to see if you qualify for a rebate and keep in mind that the better your curb appeal, the more justified you are in charging higher rent prices.

Going green with your rental property is likely easier than you think. Incorporate these sustainable amenities and improve your rental income and property value.