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Affordability, mobility and community are among the most important considerations and value drivers for new city developers according to the participants of the Cityquest-KAEC 2015 which took place at King Abdullah Economic City (KAEC). 250 participants from 35 countries attended the world-leading forum, including representatives from 24 new city projects across the world.

Cityquest-KAEC, now in its third year, presents a unique opportunity for the leaders of these communities to exchange information, ideas and expertise. This year’s event saw the introduction of the New Cities Exhibit Lounge, where participants presented their cities and shared insights on the opportunities and challenges they face.

”This year’s Cityquest-KAEC forum sought to redefine the way new cities present value to their various stakeholders. The definition of value must be wide, flexible and sustainable,” said Fahd Al-Rasheed, Managing Director and CEO of KAEC. “We need to continue to attract and retain the right mix of talent and business, and continually offer opportunities for personal and professional growth.”

Measuring value only in terms of investment, wealth and employment was shown to be too narrow. Participants emphasized the need to focus on building an environment where people actually want to live in order to see growth. Similarly, entrepreneurial businesses attract each other, which leads to job creation and further innovation in a cluster effect. Challenges to growth included how to attract specific industries and private interest but maintain a balanced city environment, and sustainable ways to invest in the attractiveness of new cities.

 “This year’s Cityquest-KAEC Forum has been — without doubt — the best yet,” said John Rossant, Chairman of the New Cities Foundation. “Greenfield cities will be more and more a defining feature of global urbanization throughout the 21st century and the Forum is now the leading gathering of leaders of these massive and important undertakings.”

Although measurable value for business and investment in new cities is fundamental, understanding the choices people make about where they live and what value means to them is key. The discussions brought to light the importance of the intangible values of community, fulfilment, and culture as playing key roles in increasing overall value for a city. They underlined the importance of supporting cultural initiatives through localized communities, and creating a sense of belonging for residents. Planning cities that foster opportunities for social mobility was identified as a key requisite to encouraging the intangible values encompassed within community-building.

The forum also presented a range of talks on disruptive ideas by keynote speakers and visionaries. This year the talks included an overview of the Hyperloop ultra high speed public transport system and a discussion of the potential of floating and modular cities that can be reconfigured and reinvented as required. These technological advances underscored the importance of flexibility in the process of conceptualizing and planning new cities.

 “Cityquest offers the leaders of new cities a unique forum where they can come together and speak openly under Chatham House rules,” said Fahd Hamidaddin, CMO of KAEC. “This is a growing community of leaders who recognize the value of working together to form relationships and find solutions to our common challenges.”

This year’s participating cities were:

Cyberjaya, Malaysia; Egypt Economic City, Egypt; GIFT City, India; Iskandar Malaysia, Malaysia; King Abdullah Economic City, KSA; Kabul New City, Afghanistan; Konza Techno City, Kenya; Jazan Economic City, KSA; Lavasa, India; Masdar, Abu Dhabi; Mohammed VI Green City, Morocco; New Alamein City, Egypt; Rawabi, Palestine; Sejong City, Korea; Songdo, Korea; Sri City, India; The Capital Cairo, Egypt; Tatu City, Kenya; Yachay Knowledge City, Ecuador.

About Cityquest

Cityquest-KAEC Forum, launched in 2013 and jointly organized by King Abdullah Economic City (KAEC) and the New Cities Foundation, is the first ever global leadership exchange among key visionaries, partners and builders of the world’s largest and most innovative new city projects. The annual Forum’s chief objective is to generate cohesive strategies for making these cities of the future a sustainable success. The third edition of the event took place in KAEC from December 8 – 9, 2015.

Access the report from the 2014 event: http://bit.ly/Cityquest2014

http://www.cityquest.net

Twitter: @newcitiesfound @kaec_saudi #cityquest

About the New Cities Foundation

The New Cities Foundation is an independent non-profit organization whose mission is to shape a better urban future for all. The Foundation conducts pragmatic research on solutions to challenges facing cities, launches initiatives to drive urban progress, and builds, empowers, and convenes a global network in support of its goals. The Foundation convenes the leading events on urban innovation, including the annual New Cities Summit. In all of its activities, the Foundation works with entrepreneurs and leaders from business, government, academia, civil society, the media and the arts. The Foundation was created in 2010 and is financed by its members and partners, which include some of the most forward-thinking companies who share a passion for the future of our cities. The Foundation is based in Geneva, and its head office is in Paris with smaller offices in New York and Zurich.

www.newcitiesfoundation.org

Facebook: /NewCitiesFoundation

Twitter: @newcitiesfound