Dubai’s URB expects to start work on $20bln sustainable city in South Africa in Q4 2024

Dubai’s URB expects to start work on $20bln sustainable city in South Africa in Q4 2024

Baharash Bagherian, URB, CEO

Here are the excerpts from the interview.

What factors drove you to launch a $20 billion sustainable city in South Africa?

Africa is part of our global outlook to investing in sustainable real estate through our sustainable community developments. South Africa is one of several locations that we have identified within Africa. It will provide us with another stepping stone into the continent, following our previous launch of Nexgen in North Africa.

We are in the business of selling a sustainable lifestyle that is equitable for both residents and investors rather than an asset. This factor was a key driver to our decision to launch a sustainable city in South Africa, as the region lacks such an offering. This provides an opportunity for a more equitable real estate model that benefits both the investors and residents in the short and long term.

What will be your biggest challenges in South Africa and how do you plan to overcome them?

As with any sustainable city development in any location, there will be certain challenges in the lifecycle of the development, from planning to construction and operation. During planning, our key challenge will be ensuring strong stakeholder engagement in all aspects of the development.