The 2007-2008 global financial crisis serves as a forceful reminder of the need for a much more comprehensive understanding of the real estate sector. When the global equity and real estate markets hit their lowest points in March 2009, $34.4 trillion of wealth globally was destroyed. Several years later, many countries – both developed and developing – are still struggling to finance and provide adequate housing to their citizens, while informal housing settlements continue to be the hotbed for pandemics and social instability. From the aftermath of the crisis until today, trends in real estate markets have become increasingly hard to predict. To safely navigate this challenging environment, understanding the long-term perspective remains an imperative.
The Industry Agenda Council on Real Estate & Urbanization seeks to identify the drivers of change in the real estate industry and the intersection with other industries to create a holistic view of the key transformations in the sector. This includes changes in demographics, consumer behaviour and end-user demand, as well as geopolitical instabilities, emerging market trends and the long-term impact of government and central bank policy on real asset markets.
Recognizing the insufficiently shared vision and alignment among key stakeholders, the Industry Agenda Council on the Future of Real Estate & Urbanization has refined the mandate in its 2014-2016 term to include collaboratively designing and delivering a set of principles for real estate to contribute towards sustainable, resilient urban development. The Council will
achieve an explicit commitment by users, investors and cities to embed measurable practices.
Council Manager: Michael Buehler, Practice Lead, Real Estate Industry, Basic and Infrastructure Industries, Michael.Buehler@weforum.org
Forum Lead: Pedro Almeida, Head of Basic Industries, Basic and Infrastructure Industries, Pedro.Almeida@weforum.org