The year 2040 will see city skies dotted with delivery drones and at ground level Wi-Fi emitting trees as people zoom about in driverless transport, JLL’s latest research forecasts.
This predicted evolution of the world’s cities will be driven by seven trends affecting the real estate sector including tech innovation, urbanisation, land & resource scarcity and the low carbon economy, the firm said in its report The Transformation Framework.
Cities that successfully respond to these trends will also adapt over the next 20 years to house as standard reverse vending machines, underground urban farms and co-living hubs, JLL added.
To help companies get to grips with the changes expected to take place within the real estate sector the firm has also created a Transformation Framework which looks at how a company’s business strategy, governance, funding, skills, partnerships and innovations will cope.
JLL reports that some of the main considerations for business leaders looking to grapple with these predicted changes include embracing emerging models such as pay-as-you-use rents and planning business strategies that span 10 to 20 years instead of three or five years to help assess the long-term challenges facing a business.
“Rather than tackling each real estate trend individually to accomplish objectives in the short or medium term, companies need to incorporate the seven trends into every step of their business decisions, long-term vision and structure,” said Emma Hoskyn, director for Upstream Sustainability Services at JLL.
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