Infrastructure that can withstand and recover from shocks, whether environmental, social or economic, is essential to city- wide resilience.includes enhancing storage capacity and deploying smart grid technologies to balance supply and demand efficiently. These upgrades will ensure reliable power distribution, support increased loads from electric heating and vehicle charging, and provide the resilience needed to sustain higher electricity demand. Infrastructure that can withstand and recover from shocks, whether environmental, social or economic, is essential to city-wide resilience, which in turn supports the long-term value of real estate assets. Investments in climate-resilient infrastructure – such as flood defences, green spaces and sustainable energy systems – help cities adapt to the growing impacts of climate change. For example, cities like Rotterdam and New York have led the way with comprehensive climate strategies that incorporate both grey and green infrastructure solutions, though with varied success in implementation. Grey infrastructure refers to the traditional built systems used for managing essential urban services, such as roads, bridges, pipelines, sewer systems and power grids. Whereas, green infrastructure includes nature- based solutions, such as urban wetlands, green roofs and tree planting, to mitigate the impacts of climate change while providing additional environmental and social benefits. In addition to environmental resilience, social resilience is cultivated through infrastructure projects that prioritize equitable access to services and opportunities for all residents. Investments in resilience also include those that help safeguard against terrorism, such as public surveillance systems or offer protection in the face of public health emergencies, such as adequate healthcare infrastructure. Key delivery mechanisms for infrastructure investment are public-private partnerships (PPPs), which are defined by the Organisation for Economic Co-operation and Development (OECD) as long-term contractual agreements between government and a private-sector partner. The private sector partner/s typically provide/s financing and/or delivery of services while sharing the risks with the government entity. PPPs play a pivotal role in addressing the substantial infrastructure investment needs that governments alone cannot meet. These collaborations use the strengths of both the public and private sectors to deliver infrastructure projects more efficiently and at scale. PPPs are particularly effective in complex, large- scale projects that require significant financial outlays, expertise and risk-sharing mechanisms. One of the key benefits of PPPs is the ability to tap into private capital to fund revenue-generating infrastructure projects, alleviating pressure on strained public budgets. In return, private sector investors can generate attractive, reliable revenue streams through mechanisms such as user fees, tolls or long-term leases on infrastructure assets. However, for PPPs to succeed, clear contractual frameworks and strong governance structures are essential to balance the interests of both sectors and ensure public accountability. 4.2 Prioritizing people and communities In addition to shifting demand patterns, space that supports its occupants has risen to the fore post- pandemic. In order to drive occupancy, buildings must be designed not only for productivity and sustainability but also for the health, well-being and inclusion of all residents. At the city level, to remain competitive and attract investment, prioritizing the social and economic aspects of urban living ensures that cities become more than just hubs of innovation and economic activity – they become environments that nurture the communities they serve. This section explores a people-first approach to development. 35 Reimagining Real Estate: A Framework for the Future

Reimagining Real Estate 2024