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NAREDCO Maharashtra has formed a strategic alliance with the International Finance Corporation (IFC) EDGE team, facilitated by the NextGen team. This collaboration aims to unlock global financing opportunities while promoting sustainable real estate practices. The agreement was formalised with the signing of a Letter of Collaboration by key representatives from IFC and NAREDCO Maharashtra. Through this partnership, the IFC EDGE team will offer technical guidance on green building standards, while NAREDCO Maharashtra will advocate for their inclusion in local incentive programs. This initiative seeks to empower real estate stakeholders, fostering the adoption of sustainable practices to establish Maharashtra as a frontrunner in green development.
NAREDCO Maharashtra has established a strategic partnership with the International Finance Corporation (IFC) EDGE team. This collaboration, facilitated by the efforts of the NextGen team, aims to unlock global financing avenues for the real estate sector while simultaneously promoting sustainability. The initiative is designed to steer India towards a more environmentally responsible future by encouraging sustainable construction practices. Advertisement
The Letter of Collaboration was signed by Mrs. Diep Nguyen van-Houtte, Global Senior Manager of the Climate Business Department at IFC; Mr. Autif Sayyed, Green Building Lead for South Asia at IFC; and Mr. Ridham Gada, who signed on behalf of NAREDCO Maharashtra. Mr. Ridham Gada currently serves as the President of NAREDCO Maharashtra NextGen.
As per the agreement, the IFC EDGE team will provide technical expertise on green building standards through knowledge sessions at selected NAREDCO chapters, complimentary EDGE expert training programmes, and facilitating the representation of developers with EDGE-certified projects at EDGE Expert Cafe events and other regional forums.
Simultaneously, NAREDCO Maharashtra will support these initiatives by organising knowledge sessions across various NAREDCO chapters, advocating for the integration of EDGE standards into local and state incentive programmes, and promoting EDGE representation at NAREDCO-hosted events. This collaboration is set to equip NAREDCO's member community with essential tools and insights to foster the widespread adoption of sustainable real estate practices, positioning Maharashtra as a leading hub for green building development.
Mr. Prashant Sharma, President of NAREDCO Maharashtra, stated that the partnership with the IFC EDGE team represents a significant milestone for the real estate sector in the region. He emphasised that IFC's expertise in sustainable development and their global experience in financing green projects align perfectly with NAREDCO's vision of making sustainable buildings the industry standard. He expressed confidence that, through this collaboration, stakeholders would be empowered to drive meaningful change and develop environmentally intelligent cities for the future.
Mr. Ridham Gada, President of NAREDCO Maharashtra NextGen, highlighted the commitment of young leaders in the real estate sector to creating a sustainable future. He noted that the partnership with IFC represents a major step towards fostering a culture of sustainability among young professionals and industry leaders. He stressed that this initiative will not only transform current construction practices but also establish a long-term foundation for sustainable living, ensuring that today's projects continue to benefit future generations.
Through this concerted effort, NAREDCO Maharashtra aims to enable the real estate industry to develop smarter, more sustainable cities capable of addressing climate change challenges, reducing carbon footprints, and contributing to a greener, more resilient future for Maharashtra. This partnership is expected to set the stage for improved construction practices and a more environmentally responsible approach to urban development across India.
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