Creating Healthier, Sustainable and More Livable Cities

The way our urban spaces are shaped and managed has a profound impact on our communities as much as our physical environment.

The pandemic heightened our awareness of how much our built environment affects our sense of community, social cohesion, and wellness. It has increased our desire for safer and more inclusive spaces, and has made us rethink the way we live, work and play.

Places that fall short in these aspects risk losing value and interest from their communities. This has accelerated the need for the real estate industry to reimagine building design and function at scale.

“How the real estate industry calibrates built environment design has a significant impact on society,” explained Panote Sirivadhanabhakdi, Group CEO of Frasers Property, a multinational company that develops, manages, and invests in a diverse portfolio of properties.

Developers and investors must play a key role in the realignment of real estate value with the human experience. The more our built environment provides opportunities for people to connect and improve their quality of life, the greater is the value for businesses and communities. This has led to some developers pursuing certification programs such as the Leadership in Energy and Environmental Design (LEED) system^[1] to deliver cleaner, greener, and more enabling spaces for communities.

The private sector has long recognized the value of combining purpose and profit, with investment decisions increasingly guided by environmental, social and governance (ESG) considerations.

But until recently, the E in ESG had taken precedence when it comes to investment choices and business strategy. Now the S has emerged as a priority in sectors such as real estate, in which businesses are looking at how they can better contribute to societal bonds and community wellbeing.

Committed to Community

Community is extremely important to Frasers Property. It sees itself as a placemaker as much as a space-creator.

For instance, its Ed.Square Town Center mixed-use development in Sydney, Australia embodies the idea of placemaking – a collaborative process to the planning, design, and management of public spaces that strengthens connections between people and places. Much more than a functional shopping space, it reflects growing demand for places where people can connect, be entertained, and access a variety of services in comfort and safety. At the heart of Ed.Square is a new 2,150-square-foot community space dedicated to enabling neighborhood interaction through events, clubs and other gatherings.

One Bangkok in Thailand, currently under development, will have green areas the size of six football fields, providing the community with open spaces for activities and interaction. As Thailand's largest private-sector property development comprising residential, retail and commercial uses, One Bangkok will feature art, culture and learning spaces to provide a multi-sensory experience for the public.

To facilitate community engagement in Singapore, Frasers Property has its “Inclusive Spaces” initiative.^[2] The program has brought together different community groups, from students to senior citizens, to address their concerns. They conceive and co-create real estate solutions, such as creating spaces that are more empathetic to seniors, and making community-hub malls more accessible for people with disabilities.

Sirivadhanabhakdi added that developers form only part of the solution to accessibility and inclusiveness of spaces, and that creating a sense of belonging and identity is ultimately a collaborative effort.

“Our approach in real estate remains progressive and collaborative,” Sirivadhanabhakdi said. “We need to understand our stakeholders in the community and seriously consider their needs and aspirations. We believe this inclusive approach is necessary for a more people-centric outcome. This is how companies like ours can deliver better value.”

Raising the Bar

Frasers Property is also focused on influencing positive change and raising the bar within the real estate industry itself.

“As placemakers, we are relentless in our focus on people across aspects that include health, safety, experience and wellbeing,” said Zheng Wanshi, Group Chief Strategy & Planning Officer at Frasers Property.

“When done right, the real estate sector can support and catalyze inclusiveness and vibrancy in the built environment."

Last year, Frasers Property's United Kingdom arm became the first company in the world to achieve a three-star Fitwel accreditation for a business park with its Farnborough Business Park. Together with certifications for two other business parks -- Winnersh Triangle Business Park in Reading and Chineham Park in Basingstoke -- they represent the largest Fitwel certified area globally.^[3]

Fitwel is a green certification system that considers occupier wellbeing.^[4] It assesses and grades offices, residential buildings, and retail spaces across a number of areas, including safety and security, accessibility, the proximity to open spaces, outdoor fitness areas, and other communal facilities.

Such facilities include beautifully landscaped outdoor spaces that feature walking trails, gyms, cafes, and public art installations, in addition to hosting regular events such as yoga classes to promote fitness and mental wellbeing.

There are also clear universal design guidelines to facilitate safety and accessibility across its mixed-use spaces. For instance, Northpoint City in Singapore, part of Frasers Property’s FIABCI^[5] award-winning integrated development in the north of the island, features a rooftop garden, public library, and community club to promote community bonding.^[6] It also provides a free wheelchair rental service.

Partnerships with non-profit organizations also help Frasers Property advance causes in health and wellbeing. Frasers Property regularly opens its doors at several locations in support of valuable initiatives that help to promote community resilience and togetherness, including its active collaboration with the Red Cross Societies across Singapore, Thailand and Vietnam to support blood donation drives.^[7]

In Australia, we continue to be a key sponsor of the not-for-profit charitable body, Healthy Heads in Trucks & Sheds Foundation,^[8] which was established to create and deliver Australia’s first single national mental health strategy for the road transport and logistics industries. The foundation aims to improve the mental health and wellbeing of every worker across the broader road transport, logistics and supply chain sectors.

Guided by Purpose

Combined with its decarbonization efforts, which include a commitment to net-zero carbon emissions, Frasers Property seeks to contribute to a smarter, healthier, and more human-centric environment, which is sensitive to the significant changes we’ve seen over the past two years.

“Businesses have a key role to play in creating a better world,” said Sirivadhanabhakdi. “We are excited to see how our purpose-driven journey leads us to be a better business.

"For governments, businesses and communities alike, being purpose-led will help us all to collectively chart a clearer course towards realizing better cities.”

Sources:

[1] LEED rating system  [2] Inclusive Spaces  [3] Frasers Property awarded major international accreditation | Frasers Property  [4] Fitwel  [5] FIABCI | International Real Estate Federation  [6] North Park Residences and Northpoint City win FIABCI awards | Frasers Property  [7] United for Humanity with Red Cross | Frasers Property  [8] Frasers Property Industrial partners with Healthy Heads in Trucks & Sheds | Frasers Property