Foreword During the COVID-19 pandemic’s unprecedented economic and societal disruption, the World Economic Forum’s Real Estate CEO community developed A Framework for the Future of Real Estate, which presented a vision for buildings and cities to be more liveable, sustainable, resilient and affordable. The years since the 2021 publication have been punctuated by escalating geopolitical conflict, challenges to political stability and the strength of democratic institutions, an unprecedented hike in interest rates across many major markets and the proliferation of artificial intelligence (AI) into the mainstream lexicon. While we could not fully anticipate every nuance of the sector’s rapid evolution between the original Framework and this current iteration, we sensed a clear moment of opportunity at the inflexion of the global fight to tame inflation. The time felt right to revisit the original body of work and update the 2021 version to ensure the global real estate industry’s continued advancement of the vision. Progress towards that vision has been measured, and while forward momentum is evident in some areas, others are more accurately characterized by stagnation or even regression. This dynamic is not solely attributable to market participants but is also a reflection of the increasingly complex public and private landscape. Ultimately, it should serve as another clarion call to reinforce the vision and recalibrate the framework for evolving market conditions. We hope this next iteration of the framework will underscore the urgency and importance of delivering on our commitments in the built environment and the role that real estate plays – as an asset class, as physical infrastructure and as an enabler of our economic and social goals – in the broader global context.Christian Ulbrich Global Chief Executive Officer and President, JLL; Industry Chair, Real Estate, World Economic Forum Reimagining Real Estate: A Framework for the Future December 2024 Reimagining Real Estate: A Framework for the Future 3

Reimagining Real Estate 2024