Editorial DeskWed 26 Jul 23

Cities Expert Dror Poleg: Once-in-a-Century Opportunity

Dror Poleg is a man in demand.

The author of the award-winning and hugely influential Rethinking Real Estate, Poleg regularly briefs and advises big hitters in the world of finance and development.

That includes multibillion-dollar companies such as UBS, Bank of America, HSBC, BCG, AvalonBay, CBRE, Hines, British Land, Liberty Mutual, Dubai Holding, and Cushman & Wakefield.

Insights by Poleg, who predicted the current reshuffle of offices, homes, and cities in Rethinking Real Estate, have been featured in The New York Times, Wall Street Journal, and Financial Times, and on NBC, Bloomberg and more.

With more than two decades of hands-on experience in private equity and technology, Poleg has also taught and spoken at events by The University of Zurich, Harvard Graduate School of Design, The University of Toronto, The University of Colorado, and The City University of New York.

And he is joining us for Urbanity 23.

Ahead of his presentation at our three-day event on the Gold Coast next month, New-York-based Poleg, one of the 50-plus presenters taking part in Urbanity 23, spoke to The Urban Developer.

▲ New York City: Poleg says the world’s cities are facing the biggest changes in centuries.

According to Poleg, the office era is over.

But, he says, it doesn’t mean offices will cease to exist, however, they will lose their grip on our environment and our lives.

“Just like factories and farms, we’ll still have offices but they will no longer dominate and define our cities and culture,” Poleg told The Urban Developer.

“Offices have been the centre of the world for the past 100 years. They dominated our skylines, dictated the structure of our transportation systems, determined the location of our homes and shops, set our schedules and even inspired the shape and content of our classrooms.

“That is over.

“Cities will adapt to prioritise more housing and mixed-use and to provide the type of experiences that only cities can offer—walkability, intense social interaction, rich culture, high-quality services, and more.”

▲ The transformation of workplaces, how we work, and when and where has a long way to run.

Real estate was facing a radical transformation because society was facing a radical transformation, he said.

Remote work and artificial intelligence will change how, where, and even why humans work, according to Poleg, while related fields such as healthcare, logistics, and education will change more in the next 10 years than they have in the past 50.

“In the midst of all this change, our offices, homes, and cities will have to adapt and evolve,” he said.

“The most successful projects will be those that help individual humans make their best of the changes ahead—places that help people live healthier, more productive, and more fulfilling lives.

“As the people who shaped the physical environment, we have a tremendous opportunity and responsibility.”

Poleg said the next five years would be a complete rethinking of urban CBDs and the reinvention and transformation of old workplaces.

“It’s a once-in-a-century opportunity to transform the physical world in a way that affects every living person,” he said.

Urbanity, Australia’s premier conference for the property industry, brought to you by The Urban Developer, will be held August on 29-31, 2023 on the Gold Coast.

Highlights include: