Report highlights value-creation in global greenfield cities

KAEC – THE New Cities Foundation in collaboration with King Abdullah Economic City (KAEC), Saudi Arabia, has released the third Cityquest – KAEC Forum report, focusing on how forward-thinking greenfield cities can build physical, commercial and social value for citizens, developers and governments “New Cities and Concepts of Value: Planning Building and Responding to New Urban Realities” highlights the opportunities for defining and creating value in these new and developing cities for their multiple stakeholders. The report is based on discussions at the third annual Cityquest – KAEC Forum which took place in King Abdullah Economic City, Saudi Arabia on Dec. 8-10, 2015. “The success of the Cityquest initiative has positioned King Abdullah Economic City firmly at the center of the global strategic dialogue around new city building,” said Fahd Al-Rasheed, Group CEO and Managing Director of KAEC. “This report emphasizes the imperative to create modern, livable spaces combining intelligent use of technology, affordable residential properties, universal educational opportunities and a robust economic ecosystem, to meet the growing global demand for urban infrastructure.” “There are unparalleled opportunities for experimentation and innovation in these new cities,” said John Rossant, Founder and Chairman of the New Cities Foundation. “New cities everywhere have a lot in common. The Cityquest – KAEC Forum is a unique opportunity for leaders in this field to share knowledge. While building a new city is an enormous challenge and faces many critics, the ongoing conversation from the 2015 Forum strengthens the foundations for the developments to come.” New cities are racing to meet the huge global demand for livable, affordable, and entrepreneurial urban environments. The report builds on the dialogue of previous editions of the Forum and encapsulates the most influential ideas on the future role these cities will play. The report is further supplemented with research-based recommendations by the New Cities Foundation to help new cities build on best practices and adopt creative approaches to creating value for investors, businesses and future residents. “New Cities and Concepts of Value” explores three overarching themes that hold value for all new cities. Physical Value in Cities explores infrastructure, the built environment and technology. Value for Business in Cities examines places that are valuable to businesses and people. Value that Can’t Be Built offers recommendations for new cities on developing the intangible value associated with urban living, such as attracting residents and building communities. The Cityquest – KAEC Forum is the largest global event of its kind, attracting 250 high-level experts from 25 countries including 18 new city leaders last December.