Creating a vibrant urban ecosystem – an inclusive, diverse and lively community where people want to live and put down roots– requires a gradual shift of focus from built-environment investment to socio-economic output.
Real estate needs a revolution. And it isn’t just the lasting effects of COVID-19 that have prompted the need for a radical change in how we approach the industry.
With an estimated global value of US$280 trillion in 2017, real estate – including construction and infrastructure – is the largest asset class and generates 13% of the world’s GDP. Buildings are responsible for 35% of global energy consumption, 38% of global C02 emissions and use 50% of the world’s extracted resources.
Urban areas are social and economic ecosystems where the majority of human interactions take place. “Hard” urban assets – physical infrastructure, facilities, technologies and buildings – as well as “soft” – intangible aspects such as values, culture, accessibility…