You are living under a rock, if you don’t know how technology is changing the ways of the world. It is not only updating how we communicate with one another but it is also influencing the modern ways of real estate. Real estate is considered to be one of the most in-demand and dynamic sectors for investment in the current century.
Now the use of technology is building a comprehensive solution to our sustainability and outdated real estate practices. This is where the concept of smart cities comes into play. Built around the prospects of IoT, smart cities are healthy, intriguing, and deserving solutions to the real estate problems of the 21st century.
Here is what goes into the making of a smart city project:
Building Blocks of Smart Cities
There are some things that act as the carriers and catalysts of a whole project. The pitch at which the smart cities are presented both for residency and investment, is huge, sustainable, and larger-than-life.
One important thing to keep in mind here is that there is nothing minimal when it comes to smart cities. These cities are massive, planned on a great budget, and executed for a large audience. That is why it is important for people to realize that the goal of smart cities is not to provide zero lifestyles. It is to make the most out of the available resources.
Further expanding this debate, here are some of the building blocks of smart cities that make them the need of the hour.
Read More: How to Ensure Smart Cities Benefit Everyone?
Flexible Planning
One of the biggest drawbacks of committing to long-term planning is that it demands patience. Governments may execute and greenlight a project but the public can show signs of exhaustion. That is why it can give the impression that something is not working in the longer run. But that is not the reality. Long-term planning is often coupled with time and flexibility so that people and governments are not trading ease over long-term sustainability goals.
Invest in the Future
Smart cities are all about adding value to the money. These cities are procuring a 360-degree solution for those who are in need of everything in one place. From premium schooling facilities to class-apart residential options, these smart cities are cultivating a habitat that is enriching and full of life. The balance of all of this is very important because it leads to economic growth and promises adoption of the modern ways of real estate. These modern ways are novel but fulfilling as well.
Turning Theories into Practical
There is something fundamentally wrong with the ways of traditional architecture. The very basics of that architecture were horizontal planning. But that is not how the modern world can accommodate real estate developments. With the recent surge in developments and urban sprawl, vertical planning is the new way to do real estate. That is why smart projects are those projects which ensure the swift execution of what you have planned earlier.
Read More: Capital Smart City Payment Plan
Procuring a Culture of Trust
Despite this being a debatable concept, smart cities are not just the transformation of infrastructure. It also includes and incorporates other sections of life in terms of ethics and discipline. That is why the need of the hour is not the development of a real estate project but also caters to the ways a real estate project is being planned. Can the residents entrust their welfare with this or not? It is a million-dollar question, one that demands answers and solutions.
Necessary Ingredients of a Smart City
For every recipe to be a blockbuster hit among the residents, there are some elements that are required. Here is what is required to make a smart city project.
A Vision – Necessary Road Map
For every real estate project to leave a mark, especially the one that is being mounted on such a large scale, there is a way to do things. That way, the road map or layout should be three things:
Realistic
Actionable
Measurable
Innovation – The Right Dose of Creativity
A core necessity of planning such sort of projects is that people need to get creative with the resources that they have on hand. This one is an absolute necessity because it paves the way for future developments while ensuring that the city is functioning on an optimized level. These things need to be in the same line as the benefits of the people.
Long-Term Planning – Outcomes
Everything that we have established above is null and void if it is not leading to long-term sustainability. This planning is what needs to be there even with the sacrifice of small-term pleasures. From transportation to health, it needs to provide a proactive solution to these conundrums.
Why Smart Cities are Taking Over the Real Estate Horizons?
Pakistan is currently witnessing the dawn of a new age of real estate with two smart cities – Lahore Smart City and Capital Smart City. Both these cities are a stepping stone to making real estate more accessible, affordable, and above all sustainable for the people of Pakistan. These cities and their hype is a very justified concept. Because on close inspection, it is making the real estate practice more anticipating and novel.
The integrated system and the decentralization approach is not only pristine but offer exclusive ways to live a life that is fulfilling and enriched.