In his keynote address at the PropertyGuru Asia Real Estate Summit 2024, Chairperson Stephen Oehme, a value management specialist and sustainability advocate, delivered a powerful message about the future of urban development. Speaking via video from COP28, Oehme highlighted the simultaneous trends of urban centralization and decentralization, a dynamic reshaping cities worldwide.
As the number of buildings is expected to double globally in the next 25 years, Oehme emphasized the urgent need for the real estate industry to adapt by embracing innovative construction methods and sustainable development. He pointed out that 40% of global CO2 emissions come from the built environment, underscoring the sector’s responsibility to mitigate its environmental impact.
Oehme, Managing Director of Quantum Thailand and a veteran of iconic projects like the Burj Khalifa and MASDAR Abu Dhabi, stressed the importance of tying opportunity with responsibility. He called on developers to consider the challenges and opportunities brought about by these dual trends, which offer a unique chance to rethink cities, developments, and individual buildings for the future.
As COP28 focuses on sustainability, Oehme noted that cities must evolve to be environmentally, socially, and economically sustainable, presenting a vision of radically different urban landscapes by 2040.
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