Replicability The model of financing the restoration or repurposing of abandoned housing in a sustainable manner is easily rep- licable across different contexts because the legislation and banking regulatory framework of Malaysia is similar in most Commonwealth countries. Malaysia also has a matured mortgage market akin to many global contexts. Replicating homeowner support mechanisms is another crucial step. Urbanmetry provided financial guidance by helping homeowners calculate the upfront costs of buying a house. Furthermore, to guide home- owners through the renovation process, Urbanmetry hosts a series of talks where architects, designers and experienced homeowners have a platform to share their experience and provide guidance on home renovation. To support this knowledge, Urbanmetry curated a list of sustainable construction and design businesses that homeowners can choose from to undertake refurbishment. Lessons learned Purchasing a home is often seen as a milestone with long-term impacts on clients’ lives. Furthermore, due to the novelty of UrbanWave, educating the clients on the concept of funding in exchange for joint ownership with a relatively unknown entity requires significant time and monetary investment. Partnerships with trusted entities such as banking institutions and government agencies help to build trust with clients, giving them the confi- dence to enter co-ownership with UrbanWave. Communicating the terms and conditions of the scheme can be challenging if financial literacy is low. Thus, accessible training needs to be facilitated within the process for prospective homeowners who require it when starting a project. Identifying stock that is worth purchasing is a key aspect and is currently made possible by the proprietary tool, Nowcast™; therefore, developing equivalent locally specific tools will be necessary for other projects. Finally, creating strong partnerships across sectors is important. Throughout its development, the Urban- Wave programme has engaged the Ministry of Housing, Ministry of Federal Territories and Local Government as well as major banks and architecture groups in the development and implementation of the project to enhance its robustness, expand the trust in the new model with consumers and scale its adoption. Next steps In addition to continued work with key institutional and professional organizations, Urbanmetry is lever- aging additional partners such as real estate agents to scale the programme significantly to upcycle many more abandoned homes for local families in the region and beyond. Read more Explore more studies in the full publication: Innovative Practice Read the Eight criteria for a high-quality Baukultur: The Davos Baukultur Quality System Keep up to date with the alliance: davosalliance.orgEndnotes 1. Department of Statistics. (2020). Malaysia Census. https://open.dosm.gov.my/dashboard/kawasanku 2. UrbanVault. (n.d.). Nowcast. Cover image: Petaling Jaya, Malaysia – GettyImages

PR199 Innovative Practice UrbanWave 2024