2024 MIT World Real Estate Forum Charts a New Course for the Industry
Celebrating the MIT Center for Real Estate’s 40th Anniversary, the 2024 MIT World Real Estate Forum (June 17+18) brought together 300 industry leaders, policymakers, researchers, and academics to explore the future of real estate — offering inspiration and practical strategies for navigating an uncertain future.
Remarking on the Forum’s theme, “We’re imagining a world where buildings, cities and entire regions seamlessly blend sustainability, innovation, and social equity,” says Kairos Shen, Associate Professor of the Practice and former Executive Director of CRE, “Where the built environment is not just functional but a catalyst for positive change”. This bold vision revealed itself throughout the Forum. As the real estate industry grapples with profound post-pandemic transformations, the event focused on innovative practices and cross-disciplinary partnerships to transform both residential and commercial real estate into a thriving network, capable of building a more resilient future.
Every year this Forum never ceases to amaze me, we are in a great space to have progressive conversations, ask big questions, and connect with old friends.”
Lori Mabardi, Senior Director, ESG for U.S. Real Estate Equity, Barings (2024 Attendee)
Leading the Way in Promoting Interdisciplinary Collaborations
From affordable housing to the future of urban innovation hubs, the Forum’s topics reflected the multifaceted challenges facing today’s real estate professionals. Attracting industry professionals, researchers, students and entrepreneurs, “MIT has a fantastic reputation for entrepreneurship, pushing the edge in terms of science and technology and this Forum is definitely bringing that as it relates to real estate,” commented attendee Eric Bradley, Managing Director at Taurus Investment Holdings.
“Every year this Forum never ceases to amaze me, we are in a great space to have progressive conversations, ask big questions, and connect with old friends, overall, it is always a positive experience”, expressed Panelist Lori Mabardi, Senior Director, ESG for U.S. Real Estate Equity at Barings.
A Roadmap & Call to Action for the Real Estate Industry
Throughout the conference, speakers and panelists reiterated the need to leverage innovative thinking, adopt AI and emerging technologies, and expand interdisciplinary collaborations. The message was clear: adapting to change is critical for long-term business success in the real estate industry. During the response panel for Professor Roberto Rigobon’s “Interactive Game”, Christina Marcarelli (MSRED ’11), Senior Investment Officer, Massachusetts Pension Reserves Investment Management, when asked about skills and knowledge needed for the industry to move forward, she urged the audience to adopt a long-term perspective in their investments. “You can’t underwrite the way you underwrote previously. Now, you have to think about regulations and incentives. It changes the math,” she argued, advocating for a shift towards more responsible and forward-thinking investment practices.
The future of real estate lies in our ability to adapt, innovate, and act with purpose, and those who hesitate to do so risk being left behind in a rapidly changing world. As the real estate industry stands on the brink of profound change, the 2024 MIT World Real Estate Forum set the stage for a new era. From expert guidance on rethinking traditional approaches, to presentations of new real estate innovations, technologies and strategies, the conference delivered an overwhelming amount of new knowledge, connections, and a sentiment of urgency to its attendees. “Collaboration and innovation are so important to solve these merging crises,” says Siqi Zheng, Faculty Director of CRE, “I encourage participants to stay engaged with MIT/CRE’s ongoing research, initiatives, partnership opportunities and students as we embark on new frontiers in real estate.”
For full details on the MIT World Real Estate Forum speakers and sessions, visit: https://www.mitworldreforum.com and WATCH on YouTube.
