Introduction
The Milken Institute Middle East and Africa Summit 2024, held on December 5-6, brought together a remarkable group of leaders, policymakers, and innovators to explore pressing global challenges and new opportunities. One of the standout sessions, “Global Cities in a New Light,” offered fresh perspectives on how urban centers are evolving amidst rapid global changes. Moderated by seasoned journalist Natasha Turak, the discussion featured an esteemed panel, including Ambassador Eric Garcetti, U.S. Ambassador to India, Godwin Gaw, Chairman and Managing principal of Gaw Capital Partners, Nikhil Goel, Chief Commercial Officer of Archer, and Yasseen Mansour, Chairman of Palm Hills Developments.
The Future of Urban Mobility
The session began with Nikhil Goel, Chief Commercial Officer of Archer, discussing the future of urban mobility through electric air taxis. Goel revealed that Archer’s flagship aircraft, Midnight, a four-passenger, all-electric vehicle, would debut in Abu Dhabi by the end of next year. He attributed Archer’s progress to supportive regulations in the UAE, which have fostered innovation in electric aviation. Archer’s $1.5 billion investment in the sector demonstrates the growing potential of electric air taxis to reshape urban mobility and reduce congestion. Following Abu Dhabi, Goel plans expansions into the U.S. and other global cities.
Global Urban Challenges
The conversation then shifted to global urban challenges, with Ambassador Eric Garcetti sharing his experience as former mayor of Los Angeles and U.S. Ambassador to India. Despite the differences between cities like Los Angeles and New Delhi, Garcetti noted common issues such as air pollution and urban density. Reflecting on his work with the C40 coalition, Garcetti praised how cities have rapidly implemented innovative solutions, often outpacing national governments. His advice to cities was to learn from one another: “Good mayors borrow, great mayors steal.”
The Roles of Community-driven Development
Godwin Gaw, Co-Founder of Gaw Capital Partners, emphasized the role of community-driven development. Gaw shared how his company’s $35 billion portfolio, including the transformation of Hong Kong’s geisha shopping centers into community-centered spaces, highlights the value of infrastructure projects with a sense of history. He argued that creating spaces that foster community pride and cohesion leads to lasting success. Yasseen Mansour, Chairman of Palm Hills Developments, spoke about building communities from scratch with his project, Bodia, near Cairo. Mansour explained Bodia’s 5-10-15 urban planning strategy, ensuring that daily needs are within a 5-minute walk, weekly needs within 10 minutes, and monthly needs within 15 minutes. This approach emphasizes accessibility and community engagement. Mansour also highlighted Bodia’s eco-friendly features, such as water recycling and renewable energy, aiming to create a sustainable, smart city model.
Conclusion
The panel discussed the broader challenges facing global cities, including climate change, affordability, and equitable access to opportunities. The panelists agreed on the importance of public-private partnerships and regional cooperation to address these challenges. In conclusion, the session highlighted the transformative potential of cities, with innovation and sustainability at the forefront of shaping future urban spaces.
