Reimagining Real Estate 2024

Liveability refers to the combination of factors that enhance the comfort and well-being of individuals and communities at the level of individual assets and their larger communities. It encompasses human-centric and inclusive designs, where social, community and recreational facilities cater to the diverse needs of citizens. With most people spending up to 90% of their time indoors,5 the quality and design of spaces significantly impact productivity, health and overall satisfaction. Liveable cities of the future focus on compact, mixed-use developments that promote work-live-play models, cultivate social connections and provide equitable access to services. Key issues and challenges: Flawed urban planning frameworks: Many urban planning frameworks lack adequate flexibility and appropriate levels of density. Some cities do not have robust planning regulations, leading to various consequences. Urban sprawl: Cities and neighbourhoods that are designed around the use of private vehicles and have uses that are segmented, requiring increased travel. Design limitations and poor space planning: Existing building designs that do not optimize space use or support occupant well-being. Building material quality: The ubiquity of building materials, including furnishings, that are made with chemicals that harm indoor air quality and occupant health. Strategic recommendations: Community-centric development and flexible zoning: Mixed-use real estate and agile infrastructure are critical in enabling individuals to meet their daily needs without excessive transit times. By supporting flexible zoning that can help drive the integration of residential, commercial and recreational spaces, cities can promote vibrant communities where social interaction and accessibility are central. Accessible essential services: Urban planning frameworks that ensure essential services like healthcare, education and retail are within walking distance from residential developments and close to public transit hubs. This reduces dependency on vehicles, removes stress from public transit infrastructure and lowers mobility-related emissions. Liveability, sustainability, resilience and affordability are necessary features of economies and communities at every level and require private-sector engagement with the public sector. This section outlines the key issues and challenges to realizing each pillar, along with strategic recommendations to drive progress. 3.1 Liveability Liveable cities of the future focus on compact, mixed- use developments that promote work- live-play models, cultivate social connections and provide equitable access to services. 20 Reimagining Real Estate: A Framework for the Future