Urbanisation
Urbanisation is one of the most significant driving forces of recent global development.
More than 50% of the world’s population lives in cities and this proportion is expected to reach 70% by 2050.
Urbanisation has the potential to create opportunities for a better life, provide a pathway out of poverty and act as an engine of economic growth. While urbanisation is moving the global economy forward, rising inequality and exclusion within cities and communities has the potential to undermine inclusive and sustainable progress.
Our aim is to harness the opportunities and mitigate the challenges of urbanisation by investing in, developing and managing properties that contribute to the built environment becoming more inclusive, safe, resilient and sustainable – enabling people to fully benefit from urban growth.
Leave no one behind
‘Leave no one behind’ is a central, transformative promise of the United Nations 2030 Agenda for Sustainable Development and its Sustainable Development Goals. It represents a commitment to:
- eradicate poverty in all its forms,
- end discrimination and exclusion,
- reduce the inequalities that leave people behind and undermine the potential of individuals.
For us, this is not merely a global aspiration but a tangible imperative that shapes our sustainable approach to real estate and guides how we balance creating economic value with delivering meaningful societal impact.
‘Leave no one behind’ not only entails reaching the poorest of the poor, but also requires combating discrimination and rising inequalities within and across countries – including developed and industrialised countries – as well as tackling their root causes. A major cause of people being left behind is systemic discrimination, which continues to marginalise and exclude people and communities. Through our business activities, we strive to drive positive change by combatting these underlying inequities.
While urban areas continue to afford new opportunities to people from all walks of life, these areas are increasingly stratified between wealthy, high-skilled knowledge workers and low-paid service workers. We adopt an ‘urbanism-for-all’ approach that curbs economic segregation, gentrification and other deep-seated divides. To ensure that no one is left behind, our commitment to sustainable urban development is grounded in the principle of inclusive prosperity – a concept where opportunities and benefits are widely shared across all segments of society.
Leave no one behind
‘Leave no one behind’ is a central, transformative promise of the United Nations 2030 Agenda for Sustainable Development and its Sustainable Development Goals. It represents a commitment to:
- eradicate poverty in all its forms,
- end discrimination and exclusion,
- reduce the inequalities that leave people behind and undermine the potential of individuals.
For us, this is not merely a global aspiration but a tangible imperative that shapes our sustainable approach to real estate and guides how we balance creating economic value with delivering meaningful societal impact.
‘Leave no one behind’ not only entails reaching the poorest of the poor, but also requires combating discrimination and rising inequalities within and across countries – including developed and industrialised countries – as well as tackling their root causes. A major cause of people being left behind is systemic discrimination, which continues to marginalise and exclude people and communities. Through our business activities, we strive to drive positive change by combatting these underlying inequities.
While urban areas continue to afford new opportunities to people from all walks of life, these areas are increasingly stratified between wealthy, high-skilled knowledge workers and low-paid service workers. We adopt an ‘urbanism-for-all’ approach that curbs economic segregation, gentrification and other deep-seated divides. To ensure that no one is left behind, our commitment to sustainable urban development is grounded in the principle of inclusive prosperity – a concept where opportunities and benefits are widely shared across all segments of society.
Inclusive prosperity
Places that adopt a strategy of inclusive prosperity have the power to transform urban areas into more open, equitable and thriving places to live.
Our focus is on achieving inclusive prosperity by combining the following intertwined components:
- Inclusive public-private partnerships
- Affordable & inclusive housing
- Inclusive urban ecosystems
- Inclusive community engagement
Inclusive public-private partnerships
The public and private sectors must work together in partnership to commit to a clear, long-term vision and strategy that reflects the mutual benefits of inclusive prosperity. Through our public-private partnership strategy, we are dedicated to advancing this agenda.
Affordable & inclusive housing
We provide affordable and conveniently located rental housing that appeals to a broad range of socio-economic groups, with a particular focus on individuals and families below the average median income or those who are socially vulnerable.
Inclusive urban ecosystem
We invest in and develop properties that contribute to transforming urban areas into inclusive, mixed-use developments – reimagining them as vibrant, sustainable urban ecosystems rather than just collections of brick-and-mortar buildings.
Inclusive community engagement
We engage with the communities (in which we operate) by fostering an environment that encourages dialogue, collaboration and participation. Through this approach, we build strong connections to ensure our properties are integrated and reflective of local identity.
Sustainable urban development
As cities grow, the need for sustainable urban development that addresses economic, social and environmental factors is becoming increasingly important. If left to chance, urban areas may suffer from a lack of identity or balance – and if neglected, may even enter a downward spiral.
Urban development is complex and hard to get right. There is ‘no-one-size-fits-all’ approach.
We believe a multi-disciplinary, collaborative approach between key stakeholders is essential to capture the multiple dimensions and differing needs of neighbourhoods in order to develop and implement a plan that can deliver a positive and lasting impact.
In our experience this typically involves, among other things, a well-functioning public private partnership with an appropriate alignment of interests.
We collaborate with local governments – who adopt best practices in sustainable urban development – to invest in and develop user-centric housing properties that help shape liveable, vibrant and viable urban areas.
Our core focus in sustainable urban development and the pursuit of inclusive prosperity is the provision of fit-for-purpose housing that is affordable, safe, strategically located and well-connected to public transport.
With rising housing prices, it is becoming increasingly difficult for individuals to live in central locations and for many workers to live relatively close to their jobs. Given the escalating cost of urban land, real estate companies alone cannot meet this challenge.
We collaborate with local governments – who establish and sponsor programmes such as tax abatements and direct subsidies – to encourage investment in affordable housing. This enables us to actively develop, build and provide affordable rental housing for underserved segments of the population.
Adaptive reuse
Adaptive reuse (also known as building reuse) is a core component of our approach to sustainable urban development.
Adaptive reuse refers to the repurposing of an existing structure for new use. Through this process, our aim is to breathe new life into old buildings – blending the charm of the past with the needs of the present – to create a character-rich urban environment.
Adaptive reuse delivers significant environmental, social and economic benefits. Through adaptive reuse, we focus on:
Structures that might otherwise be left to decay or face demolition can be revitalised, repurposed and adapted to meet current needs.
Adaptive reuse projects can serve as catalysts for neighbourhood regeneration by transforming underutilised or neglected buildings into vibrant, functional spaces. This revitalisation can cultivate civic pride and foster community participation, leading to development that is inclusive and reflective of local values.
Adaptive reuse reduces the environmental footprint of urban development by keeping buildings and materials in use, thereby lowering the need for new resources, minimising waste and pollution – particularly by cutting embodied carbon emissions by 40–70% compared to equivalent new-build projects.
Skilful adaptive reuse can preserve the historical character and architectural identity of a building, helping to safeguard its social and cultural significance. Such projects often resonate deeply with communities because their shared sense of place and identity is rooted in these familiar and meaningful spaces.
New developments are often pushed to city outskirts due to the scarcity of available land in central urban areas. This fuels urban sprawl – the uncontrolled expansion of urban areas – which negatively affects the environment, increases social isolation and results in higher infrastructure costs. Adaptive reuse offers an effective solution to counterbalance urban sprawl.
Adaptive reuse offers financial advantages by reducing both time and resource expenditure, as renovating existing buildings is typically faster and uses fewer materials than demolition and new construction. These efficiencies can potentially result in substantial cost savings.