It is no secret that global water levels are on the rise due to global warming. Researchers and scientists believe that floating cities on water bodies could be the most efficient answer to this. From solving real estate problems to combating receding coastlines, a floating city could be the best way forward.
Though this might sound like a Utopian concept for some, architects around the world believe otherwise. In April 2019, United Nations Human Habitat Settlement Program backed the idea that floating cities in the water could solve the global housing problem.
The Top Problems a Floating City can Solve
Housing crunch
The world now stands at a 7.9 population and it is increasing by the moment. If floating cities can be a valid enterprise real estate option then housing the rising population can be combatted. The world leaders are worried about the population explosion and the lack of sustainable real estate to house these people.
Decreasing coastlines
Research studies show that more than 410 million people are at a risk to be uprooted due to rising sea levels. If there is no action taken against global warming then these events are likely to become more aggressive.
Saving at-risk people from climate crisis - Till 2020, as many as 40.5 million people had to move homes due to climate change and rising water levels.
So, what are floating cities?
Though we have learnt that floating cities were backed by the UN, do we really understand what this means?
They are essentially modern tech-based sustainable cities on the sea. They are supposed to be self-sufficient and adverse climate events resistant at the same time. All prototypes of a floating city believe that they will be independent and self-governed habitats. But they will not actually float around on the water, they will be static at one place.
The basic parameters of a prototype floating city -
Zero energy wastage
Sustainable energy usage
Local goods used for all needs
Community living depending on shared facilities
Proposed idea of the first floating city
UN-Habitat along with a company called Oceanix proposed the idea of a floating city at the 2019 UN meeting. The big minds Oceanix and scientists laid out a small city plan for 10,800 people. Their plan suggests that this city will be natural disaster-resistant and eco-friendly. The people and habitat here will also be sustainable and self-sufficient.
More details about the proposed project -
The whole city will be in the form of multiple islands.
The city will not actually float but will be standing on water.
The mass of the city will be held in place by biorocks.
Will generate its own electricity and food. Solar and hydroelectricity plants and food farming inside the project.
It will have multiple small neighbourhoods housing 300 people each.
They will have electric vehicles for in-land travel and outside human contact.
Korea will have the world’s first floating city by 2025
The plans of making this 10,000 people floating city off the coast of Busan has now started off. As per reports and Oceanix creators, this city will be flood and earthquake resistant. The Oceanix owners, UN-Habitat and South Korea reached an official agreement on the matter.
It is now only a matter of time before we find out if these prototypes of the floating city are viable in the real world or not. As this is the first of its kind, there is no way any number of scientists can predict what the future holds.
As Busan is threatened by the rising global sea levels, the first real prototype of the project has been sanctioned here.
Natural, historic floating cities
The concept of an artificially developed floating city might be utopian and new. But humans have lived in natural floating cities for a while now. These cities might not have the tech-based features of Oceanix’s floating city, but they are great human habitats. Here are a few examples,
Wuzhen Water Town, China
Lindau, Germany
Flores, Guatemala
Mexicaltitan, Mexico
Where does real estate stand amidst the idea of a floating city?
If you are a real estate business person then a floating city is sure to intrigue you. Even if you are not a part of this utopian concept it is sure to pose some serious questions for your real estate. What are people looking for in floating cities?
That these cities are sustainable and eco friendly. Then these are the same questions you need to ask about your own real estate business. These are important questions that tech-savvy millennials are posing. Floating or not, the future property buyers want environment-friendly housing. You need project management best practices implemented to find answers.
Here good strategy and leadership will help you find plausible solutions. As many as 83% of millennials said they want sustainable housing. If that is some number to go by then you need better property management, home building and construction to cater to these demands.
Major takeaways
There is genuine concern among a group of scientists is that the idea of floating cities might be a quick fix to a bigger climate crisis. They are of the opinion that it is like putting a small band-aid to cover a bigger wound. Though floating cities might be sustainable in themselves, it does not solve the rising water level crisis.
Even though the UN showed support to the idea of a floating city they still had questions about its cost-effectiveness and feasibility. The whole idea is pretty new and is yet to get to its full potential. Till then it is all about waiting to see the launch of the first floating city.
Now, floating city plans might still be a little way out. But if you’re looking to manage your properties better, there is nothing wrong with taking inspiration from sustainability. Or, knowing how to manage your assets better.
At Assetsoft, we can help you choose the right property management software for your business. Our Yardi consultant experts know your real estate business in and out. We can help you implement the best strategies for property management. Integrate all your services under one platform, automate tasks and make tenant management easier. Talk to us today!