Globally, rapid urbanization is posing the challenge of an increasing pressure on urban housing and infrastructure on one hand, and increasing risk of environmental hazards through pollution, loss of urban tree cover, habitat and food sources on the other. While it is important to have environmental quality, suitable geographic location and scalability of cities for proper innovation and development of urban areas, factors like economic level, industrial structure, industrial cluster and technology adaptability are also playing a key role.
Most of the cities are in a constant state of flux and the associated physical, economic, social, cultural and technological changes are the result of a complex interaction of government policies, market forces and social practices which are influenced by globalisation. The technological innovations and market disruptions over the past few years have impacted the key aspects of the structure and function of urban life, and have led to significant changes in service delivery and market dynamics.
Poor planning of urbanization could lead to congestion, higher crime rates, pollution, increased levels of inequality and social exclusion, and this inequality within cities has economic, spatial and social dimensions. Innovation is believed to be the fundamental aspect for improving the sustainability and resilience of cities as urban development continues to flourish. The disruption in the lives of urban population occurring in this sector coupled by the forces of financial pressures, economic uncertainty and technology advancement, is believed to bring greater opportunities for the stakeholders to create long-term value and be prepared for the future.