How next-generation real estate projects are shaping cities

As governments grapple with climate and infrastructure challenges, real estate projects are helping reimagine how cities can meet both environmental and social needs. 

Around the world, brand new smart cities are emerging. Songdo in South Korea is built on land reclaimed from the Yellow Sea. The Bill Gates Foundation plans to build Belmont City from scratch on a plot in the Arizona desert. The Kingdom of Saudi Arabia (KSA) is building a new city called Neom, which includes the floating complex of Oxagon, an advanced industrial hub powered by renewable energy.

“New cities are being designed around a core guiding principle such as sustainability, education, or tourism, leisure and entertainment,” says Maroun Deeb, Head of Project & Development Services at JLL, KSA & Bahrain. “It’s redefining the concept of a city which in turn pushes us to think outside the box and adopt innovative modes of delivery,” says Deeb.

It’s not just about creating new cities. Across Europe, established districts such as Paris’ La Défense , in Paris France, face a different set of challenges as they attempt ambitious regeneration masterplans that meet net-zero carbon objectives.

“Projects in established cities must contend with busy live environments,” Deeb says. “While the freedom of greenfield sites brings their own challenges, not least managing expectations around the art of the possible.”