While the mantra for traditional property development projects “location, location and location!” still holds true, new generation of Co-living projects necessitate a paradigm shifts that put social and emotional well-being of society in the centre. Going forward, “community, community and community” is the new mantra to adopt for the sustainable development of Co-living projects in urban centres around the world.
For me, co-living before everything – is a project born out of the quest for common good. Meanwhile, most property developers, property owners and conventional banks still operate on pure capitalistic model. where the measure of success is maximum Profitability and Return on Investment(ROI) at the shortest time frame possible (2 – 3 years). It is the perfect case in point where self interest and insatiable capitalistic greed get in the way of common good.
It is up to us – the society as a whole – to come together, to decide and prioritise accessibility of decent residential solutions in urban centres as our collective aspirations! People-Public-Private Partnerships (4Ps) approach to urban planning and development where purpose is placed before profit is the way forward. The building of a community that is progressive and inclusive depends on it. The sustainable development of co-living projects; Hence, our collective well-being rest in our hands!
Written by K. Wanderman @colivingmalaysia
He is the founder of co-living social movement. Advocating creation of an ecosystem for sustainable development of co-living residential solutions in urban centres of Malaysia.
Creative Entrepreneur | Cultural Creator | Community Builder | Creator of Art de Vivre Cultural Hub | Founder of Coliving Social Movement
*Inspired from “Economics for the Common Good” by Jean Tirole. Winner of the Nobel Prize in Economics.