Amid rising climate threats, the need to reshape our cities and rethink urban planning has never been more critical. Without decisive action, some urban environments risk becoming unliveable in 10-20 years; collaboration across different disciplines and industries is critical as we reconsider how cities are designed, built and sustained for the future.
Today, up to 80% of buildings in mature cities will still be in use by 2050. Many of these structures were not designed to account for evolving climate risks, such as flooding and increased energy demands. These buildings need to evolve with the changing social needs of diverse urban populations or risk exacerbating inequality and social fragmentation.
As cities strive to meet a zero-carbon future, these buildings are at risk of becoming obsolete. While the challenges are significant, there exists the opportunity to positively reshape urban environments.
This presents an urgent call to action for stakeholders, including policymakers, capital owners, investors and developers.
“We find ourselves at a critical juncture, where today’s collective decisions will determine the liveability of our cities for decades to come,” says Wanshi Zheng, Group Chief Strategy and Sustainability Officer at Frasers Property.
Taking Action
The journey ahead may be complex, but with the right holistic considerations and collaborative eff orts, these challenges can be overcome. Forward-thinking developers are making progress toward creating more resilient cities by working in public-private partnerships to ensure investments go further—for profit and beyond.
According to research by JLL, one-third of commercial real estate leaders plan to transition away from less carbon-efficient spaces by 2025. Assets that address environmental and social factors are better positioned to retain their value and avoid the risks of depreciation or becoming stranded assets.
As a leading multinational real estate company that develops, manages and invests in a diverse portfolio across Asia-Pacific and Europe, Frasers Property has implemented strategies to contribute to the building of resilient, sustainable and vibrant cities. The company strives to integrate environmentally friendly practices and social responsibility across its entire value chain.
Frasers Property has set sustainability targets, committing to reduce its direct emissions, but also those generated by its stakeholders.
“At Frasers Property, our development capabilities in greenfield and brownfield projects are helping build successful cities of the future. We are committed to enhancing the quality of life for the communities we serve, fostering sustainable and vibrant environments where people can thrive,” says Zheng.
Leading Sustainable Urban Development
An effective way to ensure urban resilience is by integrating sustainable practices from the outset. New developments offer a unique opportunity to incorporate cutting-edge environmental and social sustainability strategies. By prioritizing sustainability at the projects’ inception, developers can effectively guard against climate events while minimizing capital expenditure otherwise spent on climate adaptation.
Frasers Property exemplifies this approach through various projects that integrate sustainability into the fabric of modern cities such as with One Bangkok. This sprawling 17-hectare development is set to become Bangkok’s first LEED for Neighborhood Development (LEED-ND) Platinum-certified district.
One Bangkok incorporates energy-efficient systems, extensive green spaces and advanced water management techniques, setting new benchmarks in sustainable living.
Revitalizing for a Sustainable Future
Retrofitting and adaptive reuse of existing properties are crucial strategies for reducing environmental impact that can also be considered in revitalizing cities.
Frasers Property’s transformation of Bradmill Yarraville in Victoria, Australia, exemplifies this approach. Once an industrial denim factory, the site sat unused for over 15 years after shuttering, serving as a playground for graffiti artists and underground raves before being earmarked for development into a dynamic, mixed-use community while retaining key elements of its heritage.
Structures on the site’s old boiler house will be preserved in recognition of its history, while some of its graffiti will be maintained and displayed in the development as a nod to its underground culture.
“We wanted to maintain a connection to Yarraville’s past by respecting the site’s historical significance, as we create a space that meets modern needs,” says Cameron Leggatt, CEO of Frasers Property Australia.
Balancing Commercial Viability With Environmental Responsibility
When new construction is unavoidable, the focus should be on minimizing environmental impact. The demolition of The Tube, a former industrial site in Germany, to make way for a new industrial anLEd logistics park, serves as an example.
Frasers Property ensured a sustainable demolition process by segregating and repurposing construction waste, recycling up to 70,000 tonnes of building material. It collaborated with the German Sustainable Building Council (DGNB) to pilot and test indicators that would form the basis for the first-ever Gold certification standard for a climate-friendly demolition of an industrial site. This demonstrates that even in challenging situations, environmental responsibility can be maintained alongside commercial objectives.
Creating Inclusive, Flexible Urban Spaces
The built environment has long shaped the way people live, but in recent years, there’s been growing recognition of its potential as a powerful force for positive social change.
Industry leaders have a unique responsibility—and opportunity—to enhance health and well-being, strengthen communities and culture, and promote social inclusion, all while delivering lasting economic benefits.
Frasers Property is dedicated to placemaking, creating inclusive and adaptable spaces that meet the needs of urban populations while shaping communities, cultures and connections within.
Fraser Property’s Midtown MacPark in Sydney illustrates this commitment. The project, its partnership with state and federal governments and community housing provider Mission Australia Housing, seeks to tackle Australia’s housing shortage by providing affordable homes among its mix of some 3,300 apartments. The community is designed to be sustainable and inclusive, aiming to be 100% carbon neutral upon completion, with dedicated community facilities and resources for everyone.
In Singapore, Frasers Property, in partnership with national utilities distributor SP Group, has demonstrated how public-private partnerships can shape sustainable outcomes. Its Century Square and Tampines 1 malls are part of Singapore’s first brownfield Distributed District Cooling (DDC) network supplying centralized cooling to buildings within its network. The DDC is projected to reduce carbon emissions equivalent to taking 1,236 cars off the roads annually.
Collective Action Required
Frasers Property will continue leveraging its network, expertise and experience to navigate the challenges of its net zero journey. The transition to a low-carbon world cannot be achieved alone. The path to resilient, sustainable cities requires collaboration across the entire value chain.
Businesses, government bodies and communities must work together to create urban environments that are sustainable, thriving and inclusive, improving the quality of life for all who reside, work and play in them.
