Cities must rethink how they create urban value: Skanska report

The report, Shaping Sustainable Places, points to a growing need to manage risk, protect investment value and meet rising societal expectations. It calls for stakeholders to close the gap between the way urban projects in Europe and the USA are delivered and how places are expected to perform over time.

"Urban development is entering a decisive new phase," says Claes Larsson, EVP Skanska Group, Commercial Property Development and Investment Properties. "Success today is about creating resilient places that can adapt, endure and continue to deliver real value for people, climate and business long after construction is finished."

Four actions are identified to secure cities' long-term prospects: 

• Design for change. Adaptable, resilient design protects asset value, reduces future retrofit costs and strengthens long-term competitiveness.
• Work together. Early alignment and shared stewardship between stakeholders improve predictability and long-term performance.
• Design for and with people. Early engagement with the local society reduces delays, strengthens demand and supports stable occupancy.
• Measure what matters. Integrating social, environmental and economic indicators leads to better decisions and stronger long-term outcomes.

"Investors, insurers and central banks are increasingly integrating climate risks into their processes. Buildings cannot be moved, they must be adaptable to safeguard their future value," says Lena Hök, EVP Sustainability & Innovation, Skanska Group. "As climate risk is priced into markets, insurance and regulation, value will increasingly follow those who design for change, collaborate early, plan with people and measure what matters, so buildings and districts stay resilient."

The report targets decision-makers and investors who are committed to creating enduring value in cities and urban environments.

Download the full report and associated material here: www.skanska.com