08 Aug 2022
Decarbonisation, disclosure, digitalisation and decentralisation (4Ds) – these four perspectives of transforming cities were the talk at the Urban Land Institute (ULI) Developers Roundtable at this year’s World Cities Summit (WCS). Themed “Liveable and Sustainable Cities: Emerging Stronger”, the event brought together global leaders to exchange insights on building resilient cities.
During the panel discussion, Mr Lim Hua Tiong, Chief Executive Officer of Frasers Property Vietnam & Development and Frasers Property (Holdings) Thailand, touched on how cities are stepping up their efforts on the 4Ds as well as megatrends leading transformation in the real estate sector. Below are some key highlights on how Frasers Property strives to drive greater sustainable innovation in its net zero carbon journey.
Mr Lim Hua Tiong, CEO, Frasers Property Vietnam & Development, Frasers Property (Holdings) Thailand, speaking at a WCS’ roundtable “4D City Transformation: Decarbonisation, Disclosure, Digitalisation and Decentralisation”.
As cities grow denser, they face acute pressure from ageing buildings, evolving lifestyles, and the climate crisis. There has never been more demand from investors and the public for companies to apply sustainable operating practices in their businesses, nor a more opportune time for businesses to take more ambitious action to address environmental and social challenges. To thrive in today’s disrupted world, the urban development of cities must transform by leveraging the 4Ds.
With an increasing focus on sustainability, real estate investors are starting to evaluate assets through an Environmental, Social, and Governance (ESG) lens from a risk management perspective. It is therefore imperative for developers to up their ante and seek continuous innovations to comply with their net-zero carbon targets.
Pre-pandemic, Frasers Property introduced a Group-wide sustainability framework with an ambition to achieve net-zero carbon by 2050. We have mapped out a sustainability roadmap to incorporate environmentally and socially friendly practices throughout our entire value chain – from investment to design, development and operations.
Green buildings contribute to many aspects of environmental sustainability, from being energy- and water-efficient to providing healthy environments for tenants. With over 200 buildings green-certified since 2005, we have also set a goal to certify 80% of all our owned and asset-managed properties by 2024, and have all new projects under development to be certified by 2021.
For instance, , one of our mega developments, is set to transform Thailand’s capital into a global landmark destination with an aim to improve users’ quality of life through placemaking, accessibility, connectivity, and sustainability goals.
One Bangkok will be Thailand’s first district planning to achieve LEED (Leadership in Energy and Environmental Design) certification for Neighbourhood Development and WELL Platinum Global standards, setting a new benchmark for green development in Thailand.
Frasers Property is the first SGX-listed real estate company to announce our commitment to achieve a net-zero carbon goal by 2050. To further embed ESG considerations across the Group’s value chain, we unveiled our Responsible Sourcing Policy in 2021 outlining our approach towards responsible sourcing and establishing the expectations we have of suppliers.
As a testament to our strong efforts in driving sustainability, the Group (GRESB) rankings last year with five global and regional sector leadership positions. To achieve better sector benchmarking and transparency, all our listed and non-listed business units across geographies had put up individual GRESB submissions.
The pandemic has induced changes in our approach to urban living. With increasing online activity and shift in attitudes towards home and work, there is a growing demand for future-ready cities to cater to modern digital habits, such as ramped-up digital solutions for the delivery of products and services.
In 2021, Frasers Property recognised that the handover of completed apartments may be disrupted due to lockdowns and curtailment of overseas travel. To overcome this, our team in Vietnam offers customers real-time 360° virtual tours of apartments and common facilities with a third-party digital solution, HoloBuilder. The app also enables customers to submit comments on defects and provides measurements within apartments to facilitate homebuyers’ purchase of furniture.
A first in Vietnam, more than 90% of units handed over leveraged the HoloBuilder, an app that provides real-time virtual tours of the residential apartments and facilities for tenants and homeowners. This ensures the health and safety of both homeowners and our staff at the height of the pandemic.
Urban planners must be responsive in reviewing and updating zoning plans and regulations to allow greater flexibility in response to the changing landscape. Globally, there is a growing need for storage and distribution facilities to achieve speedier delivery services. Having last-mile fulfilment facilities within city and suburban centres is pivotal in boosting efficiency.
At Central Place Sydney in Australia, we partnered with Dexus to redevelop the area around the city’s Central Station. We want to reshape the daily experience of over 20 million people and improve the transport infrastructure for better access and convenience to other parts of the city. This Integrated Distribution Facility will unlock future over-station development, reinforcing Central Station as the main public transport interchange of Sydney, while servicing last-mile delivery for e-commerce businesses in the precinct.
Central Place Sydney, one of the city’s most significant CBD developments, will reshape the daily experience of millions each year with a new public realm, making it a seamless, enjoyable, and vibrant experience for all.
Driving sustainable innovation
Aligned with our Frasers Property’s Purpose – Inspiring experiences, creating places for good – we continuously strive to build vibrant and sustainable communities as we strengthen our position as one of the leading real estate players. By incorporating the 4Ds in our developments around the globe, we pride ourselves on leading sustainable innovation to transform future cities.