Inclusive Cities Barometer for Asia Pacific Launched – Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK), a leading global real estate services company, today launched Inclusive Cities Barometer for Asia Pacific which analyzes the performance of 35 cities in the region in four dimensions of inclusion – economic, social, spatial and environmental. This report aims to stimulate a data-driven dialogue on the influence of real estate activities on urban inclusion and the social fabric of cities.

Dr. Dominic Brown, Head of International Research at Cushman & Wakefield said: “We analyzed nearly 4,000 data points covering 110 variables to compile what we believe is the industry’s most comprehensive data set on inclusive cities. The 35 cities included in this first report are at different stages of their journey towards more inclusive and vibrant urban environments, and by analyzing their progress we can highlight exemplary successes and outline actionable pathways for improvement.”

Approach and Methodology

The 35 Asia Pacific cities in the report were selected based on their representation of approximately 80% of the region’s A-grade office space. pursued by Cushman & Wakefield, covering most of the locations in the portfolio of corporate occupiers. These cities are grouped into four individuals that reflect the maturity of their progress with social value creation and inclusion.

To develop the barometer, Cushman & Wakefield collected data from global third-party sources such as the World Bank and the United Nations. and benefited from insights and findings from both peer-reviewed scientific sources and internal experts. Four main dimensions and 11 sub-dimensions were identified:

Key Findings

The following were some of the cities identified as strong performers in various dimensions:

• Melbourne, Australia, is the strongest overall performer in the barometer. Praised for its liveability, safety and friendliness, Melbourne is a hub for international students thanks to its acclaimed tertiary institutions. As one of Australia’s fastest growing cities, it embodies multicultural dynamism and inclusiveness, reflected in its strong social and spatial values. Melbourne City Council’s recent publication of the Inclusive Melbourne Strategy 2022-32 reaffirms its commitment to greater inclusion. This strategy prioritizes creating a diverse and inclusive workforce, promoting community-led post-pandemic recovery, and empowering local communities to drive change and fully participate in community life.

• Recognized as a key financial center in the region, Singapore also attracts top talent through its robust investment in technology, has built a leadership position in innovation and research and development. With strong labor force participation, low vulnerable jobs and near-universal financial inclusion, Singapore excels in economic inclusion. The city also offers a safe and well-connected living environment, with an attractive urban landscape that contributes to its spatial inclusiveness. Singapore continues to move forward by strengthening its inclusive credentials through technology, sustainability and livelihood efforts. These include a $2 billion green investment program for net zero emissions and promoting community bonds through inclusive housing and green spaces.

• Wellington, the capital of New Zealand, famous for its picturesque green environment, boasts excellent air quality, reflecting its commitment to environmental management, outlined in the 2020-24 Sustainability Strategy. Its temperate climate further improves the overall health of its population. Notably, Wellington also excels in maintaining low pollution levels, underscoring its dedication to environmental conservation. Beyond environmental achievements, New Zealand has made significant progress in social development, with over half of its sustainable development goals achieved or on track. These include advances in population health, gender equality, access to clean fuels and technologies, and conservation of green spaces.

“It is worth noting that there is no such thing as a perfect city. All 35 cities have their strengths and diverse environments and challenges, and this barometer serves to provide learning points and actions they can adopt and adapt as they pursue their urban inclusion agenda,” added Dr Brown .

Real estate contribution to inclusive cities

As stewards of the built environment, property owners, developers, investors, occupiers and councilors play a key role alongside governments in shaping urban spaces and influencing the lives of communities and citizens. Inclusive Cities Barometer acts as a call to action for the commercial real estate industry to challenge the social status quoproviding guidelines on integrating and increasing social value at every stage of decision-making – from individual assets to city-wide portfolios.

Matthew Clifford, Head of Sustainability and ESG, Asia Pacific, Cushman & Wakefield noted that there are still a multitude of opportunities open to developers and investors to enhance social inclusion in the Asia Pacific urban landscape. “If we look at the main centers of office employment, developers can meet more nuanced and inclusive needs, not only of the end users of their office space, but also of the communities and people who live near the buildings or pass by their buildings in every day. For example, building green areas that can preserve green outdoor space as a public park or develop amenities and experience in the immediate vicinity of their buildings. From an investment perspective, the development of social and economic values ​​of assets also influences total returns.”

Corporate real estate occupiers can also contribute to the social fabric of inclusive cities. By supporting local businesses in their supply chain or recruiting local citizens, corporations can promote social value and economic growth within communities. They can also select locations that are well connected and accessible, in close proximity to amenities such as healthcare and educational institutions; as well as adopt an inclusive mindset in their office design and layout. They will help improve the workplace experience and quality of life of their employees, leading to increased engagement and organizational performance.

“In summary, a city’s long-term attractiveness and viability are profoundly shaped by its inclusive and social values. Inclusive cities naturally attract more talent and encourage innovation, leading to increased investment and growth. In addition, these cities offer opportunities for social mobility and entrepreneurship in diverse socio-economic environments. Their resilience and adaptability also enable them to respond to the evolving needs and expectations of residents and stakeholders. It is therefore crucial that the real estate sector wholeheartedly embraces and integrates inclusive values ​​in all its activities.thereby advancing the journey towards creating urban environments that prioritize inclusion,” said Mr Clifford.

Click here for the Inclusive Cities Barometer, with a detailed look at the four-person grouping of 35 cities and their strengths and areas for improvement.