12 BUSINESS VIEW MAGAZINE OCTOBER 2019 co-working and co-living), raises demand by fast-moving tenants for easily reconfigurable locations, and increases returns from effective space and asset utilization. • The circular economy creates an imperative for buildings to become more operationally efficient and resilient, and achieve greater density through shared occupancy and longer asset lifespans. “Global cities are being judged on a wider set of competitive criteria, including their ability to attract and accommodate new forms of value creation,” says Dr. Tim Moonen, Managing Director at The Business of Cities. “The dividends to asset holders in cities that can successfully adjust to these new trends are becoming increasingly apparent.” The new economic models have a strong impact on the landscape of global cities. Seven cities continue to demonstrate competitive strength – London, New York, Paris, Singapore, Tokyo and Hong Kong have topped JLL and The Business of Cities’ Established World Cities list since 2013, with Seoul joining in 2017. Another group of contending cities follows closely behind, including San Francisco, Los Angeles, Shanghai, Toronto, Chicago, Beijing, Amsterdam, Sydney, Madrid and Washington, DC. This year, Berlin, Munich, Boston and Stockholm joined the global leader board, as they continue to build on their quality of life advantages, innovation capabilities or institutional strength, and punch above their weight as destinations for cross-border real estate investment. The dividends to asset holders in cities that can successfully adjust to these new trends are becoming increasingly apparent.