FIVE Holdings: From Dubai roots to global leadership in sustainability

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Established within the Emirates’ dynamic landscape and helmed by Kabir Mulchandani, chairman and chief executive of FIVE Holdings, FIVE has grown into a global leader in environmental, social, and governance (ESG) excellence, earning an ISS ‘A’ rating, the highest worldwide, and surpassing industry leaders such as Apple, Microsoft, Tesla, Hilton and Marriott.

FIVE sets a global precedent as the only hospitality group powered entirely by green energy across its properties in Dubai, Ibiza and Zurich. In Dubai, FIVE has avoided over 46,000 tonnes of CO2 emissions since 2022 through its I-REC partnership with DEWA. Additionally, SENSORIA in JBR is unveiling the world’s largest and first ONYX Solar facade, spanning 2,800sqm, further advancing sustainable innovation. Additionally, FIVE Palm Jumeirah and FIVE Jumeirah Village hold the Gold Stamp from Dubai Sustainable Tourism, representing the top 1 per cent of Dubai hotels.

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According to the 2024 Cornell Hotel Sustainability Benchmark Index, FIVE achieves a carbon footprint five times more efficient than the average Dubai five-star resort. Since 2020, FIVE has reduced its carbon intensity by 65 per cent. The Pacha Group, acquired by FIVE, has reduced its carbon emissions by 34 per cent in 2024, with Pacha Ibiza cutting emissions per entry by 31 per cent and Pacha Hotel reducing emissions by 39 per cent in 2024.

FIVE outperforms industry standards with water efficiency three times better than the average Dubai five-star resort, as verified by the 2024 Cornell Hotel Sustainability Benchmark Index. In Dubai, the group recycled over 47 million litres of water in 2024, with FIVE LUXE set to recycle over 25 million litres in 2025 as its newest addition.

Recognised by the Emirates Environmental Group as the #1 recycler in the UAE, FIVE was awarded the number one glass recycler in the 2023 EEG OROC Campaign, out of over 2,300 participants, and has achieved a 44 per cent waste reduction since 2020. In 2024, FIVE reduced general waste by 22 per cent compared to 2023 and recycled over 590 tonnes of waste and has planted over 120 native trees in UAE bee reserves.

FIVE fosters equitable wealth distribution by including 270 employees as shareholders, ensuring shared success across all levels of the organisation. Through FIVE’s long-term incentive plan (LTIP), valued at $91.6m, eligible employees – from entry-level to leadership – are invited to participate in a discretionary programme designed to recognise performance and foster long-term value creation.

FIVE’s green portfolio, valued at Dhs13bn, is a cornerstone of Dubai’s net zero future. Through a $350m Green Bond, FIVE acquired The Pacha Group, scaling its global sustainable entertainment ecosystem and driving sustainable development through innovative investments.

FIVE offers 1,571 environmentally sustainable LEED Platinum hotel rooms, five times more than the entire US’ 295 (LEEDv4+). Pacha Hotel is the first and only hotel in Ibiza to earn LEED Platinum, with Destino Five Ibiza and Pacha Ibiza on track to achieve LEED Gold or higher. Furthermore, FIVE Zurich was Switzerland’s first LEED Platinum hotel, while FIVE LUXE in Dubai holds the world’s highest score for five-star hotels under LEED v4 BD+C.