Here’s your weekly insight into the forces shaping cities, infrastructure, and the urban future.
You Should Know
- Guyana leads the world in per-capita GDP growth, fueled by offshore oil expansion. Its economy grew over 30% in 2024 and is set to rise another 15% in 2025, with little population change.
- In September 2025, U.S. housing inventory reached a five-year high as new listings and a gradual pace of sales added supply faster than buyers absorbed it, according to the National Association of Realtors Existing-Home Sales Report.
- Nearly 90% of global trade by volume travels by sea. The global shipping industry emits roughly the same amount of CO₂ as the entire aviation industry—about one billion tons per year.
Worth Watching
- High-speed rail costs explained.
- How the world’s largest underwater tunnel is being built.
- The invention that accidentally made McMansions.
Top Stories
New York’s 6th Tallest Tower Just Opened – Here Come the Next Giants
Last week, JPMorgan Chase opened its new, glamorous headquarters at 270 Park Avenue — a $3 billion bronze-and-steel skyscraper standing 1,388 feet tall, making it the sixth-tallest building in Manhattan. One of the first major office towers completed in New York City since the pandemic, it marks a renewed confidence in the city’s commercial core.
With 270 Park Avenue’s debut, New York is experiencing fresh momentum in skyscraper construction. Demand for state-of-the-art office space in prime Midtown locations is fueling a new building boom, as asking rents for luxury office towers climb toward $200 per square foot.
Analysts project that more than 10 million square feet of new office space will rise across Manhattan by 2032 to meet demand from firms seeking modern, sustainable workplaces. Among these projects are several supertall towers—buildings exceeding 300 meters (984 feet)—that are redefining the city’s skyline. Here are a few noteworthy projects:
- 520 Fifth Avenue (1,003 feet / 305 meters) – The next supertall expected to be completed in New York City, 520 Fifth Avenue is being developed by Rabina Properties and will become the tallest mixed-use building on Fifth Avenue when finished in June 2026. The 88-story tower will combine office space, a 500-room hotel, and 100 luxury residences. Its façade of glazed terracotta arches and expansive windows recalls New York’s classic setback skyscrapers.
- 350 Park Avenue (1,600 feet / 488 meters) – The New York City Council recently approved 350 Park Avenue, a 1,600-foot supertall office tower in Midtown East by Vornado Realty Trust, Rudin, and Citadel founder Ken Griffin. Set to be the city’s tallest tower by roof height, the 62-story, 1.8 million-square-foot project will house 6,000 employees. Demolition begins in 2026, with completion in 2032 at a cost of $4.5 billion. The plan includes $150 million in air-rights purchases, $35 million in public-space contributions, and a 12,500-square-foot plaza with widened sidewalks, retail, dining, and glass-clad terraces overlooking Midtown.
- 175 Park Avenue (1,575 feet / 480 meters) – Expected to become New York’s second-tallest tower by roof height when completed, 175 Park Avenue is being developed by RXR Realty and TF Cornerstone at an estimated cost of $6.5 billion. Its lattice of steel columns, flaring outward at the base, will form a dramatic presence beside Grand Central Terminal. Enabled by the Midtown East rezoning allowing air-rights transfers, the tower was approved in 2021 and remains in design and permitting, with construction yet to begin and completion expected after 2030.
Dubai Is Getting 40,000 New Mansions in a $27B Project
Dubai is making one of its biggest-ever bets on luxury living. Emaar Properties, the developer behind landmarks like the Burj Khalifa and Dubai Mall, has unveiled Dubai Mansions, a $27 billion master-planned community within Emaar Hills that will feature 40,000 ultra-luxury homes ranging from 10,000 to 20,000 square feet.
Located in Emaar Hills, one of Dubai’s most sought-after districts, the development is envisioned as a wellness-oriented community with direct access to a championship golf course, leisure and wellness centers, premium retail outlets, and an extensive network of landscaped parks. Founder Mohamed Alabbar described the project as “the ultimate expression of refined living,” positioning Dubai Mansions as the crown jewel of Emaar’s growing portfolio of high-end developments.
The launch comes amid strong momentum in Dubai’s prime real estate market, which continues to attract global capital. Government initiatives such as long-term residency permits for retirees and professionals, and the 10-year golden visa program, have drawn an influx of millionaires and high-net-worth investors, fueling demand for luxury properties.
According to real estate consultancy Savills, Dubai ranked among the world’s top three prime residential markets for capital value growth in the first half of 2025, with prices rising 5 percent year-on-year. Over 1,500 transactions above AED 10 million were recorded in just one quarter, with villas accounting for more than 70 percent of these sales. At the super-prime level—properties priced above $10 million—Dubai continues to outpace both London and New York, underscoring the city’s global dominance in the luxury housing market.
Demand for Emaar Hills will rely heavily on international investors and the continued inflow of global wealth. While Dubai’s growing population and expatriate community support underlying housing demand, the ultra-luxury segment is driven primarily by high-net-worth buyers seeking second homes and long-term investment opportunities. The UAE’s broader residential real estate market is projected to grow from $36 billion in 2024 to $52 billion by 2030.
Emaar Properties continues to lead this expansion. Since 2002, the company has delivered more than 122,000 residential units and holds a land bank of approximately 1.7 billion square feet across the UAE and international markets.
Cities Race to Hold Back the Sea
Global sea levels are projected to rise by as much as one meter by 2100, putting nearly 10% of the world’s population in low-lying coastal regions at risk. In response, cities are accelerating large-scale coastal resiliency efforts. Broadly, these strategies fall into two categories: “hard” defenses and “soft” defenses.
Hard defenses are engineering structures designed to keep the sea out. These include sea walls, storm-surge barriers, levees, dikes, and raised embankments. In New York, for instance, the $2.5 billion East Side Coastal Resiliency project is constructing a continuous line of flood barriers and sea walls along Manhattan’s East River while redesigning public parks to double as flood protection.
Soft defenses work with nature rather than against it. These include expanding mangrove forests, wetlands, floodable parks, and “living shorelines” that absorb storm surges and reduce wave energy. Soft defenses are typically cheaper but often require more space, long-term land-use planning, and political commitment.
Notable coastal resiliency projects include:
- Coastal Texas Project (United States): A $34 billion initiative led by the U.S. Army Corps of Engineers to construct a massive storm-surge gate system at the mouth of Galveston Bay, reinforced dunes and seawalls stretching more than 70 miles, and wetland restoration to absorb wave energy.
- Giant Sea Wall Jakarta (Indonesia): A plan to safeguard Jakarta, one of the world’s fastest-sinking megacities, with a vast sea barrier across Jakarta Bay integrated with 17 artificial islands supporting housing, business districts, and green spaces. Estimated at up to $40 billion, the project combines flood defense with urban redevelopment.
- MOSE Project (Italy): A $6 billion system of 78 mobile floodgates at the lagoon inlets of Venice, designed to rise from the seabed during high tides and storm surges. Operational since 2020 and nearing full completion, MOSE protects the city from frequent “acqua alta” floods that threaten its historic architecture.
Yet critics argue that such mega-projects can be unnecessarily expensive, ecologically damaging, or socially inequitable. Sea walls may shield wealthy districts while diverting floodwaters toward poorer areas, and large-scale barriers can alter tides, wetlands, and fisheries. Many experts advocate combining engineered defenses with ecological restoration and, where necessary, strategic retreat from the most at-risk zones.
A New Neighborhood Ownership Model for Inclusive Development
When investment flows into once-overlooked neighborhoods and rents rise, longtime residents are often displaced. A new model known as the Mixed-Income Neighborhood Trust (MINT) seeks to balance investment with inclusion, preserving affordability as neighborhoods evolve.
Developed by the nonprofit Trust Neighborhoods, MINTs are locally governed real estate trusts that combine market-rate and affordable housing within a single portfolio. In a MINT, the trust itself owns the real estate, not individual residents or outside developers. Each trust determines its own rent structure, using income from higher rents to subsidize more affordable units in perpetuity.
MINTs acquire properties through a mix of public funding, philanthropic capital, and private loans. Once established, they operate much like mission-driven real estate companies—but with a key distinction: community control. Local organizations and residents hold seats on stewardship committees and operating boards, sharing power with Trust Neighborhoods to set affordability goals and reinvest profits back into the community.
The model’s benefits extend beyond rent stabilization. By removing properties from speculative markets, MINTs give neighborhoods long-term control over their housing stock. Profits stay local, units remain affordable across income levels, and tenants have a voice in how their homes are managed.
Trust Neighborhoods launched the first two MINTs in Kansas City, Missouri, and Tulsa, Oklahoma, in 2021. Since then, new trusts have formed in Denver, Fresno, and East Boston, all in areas where rising property values threaten to displace residents.
In East Boston, the East Boston Neighborhood Trust reclaimed a 114-unit housing portfolio that had been targeted by investors. With $12 million from the city, $8 million in philanthropic support, and a $31.7 million mortgage, the trust stabilized rents and began converting units to affordable levels as student tenants moved out.
In Denver’s East Colfax MINT, residents help shape tenant selection policies, improve language access for immigrant communities, and oversee rent adjustments to prevent displacement—all while building long-term housing stability.
Despite its promise, the MINT model faces headwinds. Rising property and construction costs, along with a shortage of mission-aligned managers, make it hard to stay competitive with private investors. Yet early projects show it can still chart a new path toward equitable neighborhood development.
Big Deals
- Redwood Materials raises $350M to grow energy-storage business.
- Waymo rival Avride secures $375M to develop autonomous robotaxis and delivery services.
- Recurrent Energy secures $825M for Arizona solar projects.
- Neolix secures $600M to expand its autonomous RoboVan fleet.
- DLC expands with a $625M acquisition of 10 West Coast shopping centers.
- Spiro raises $100M to enhance battery-swapping network in Africa.
Extra Reads
- Manhattan’s lost decade – over a third of Manhattan condos sold at a loss last year.
- What it’s like to live in the world’s smartest cities for 2025.
- UAE begins world’s first gigascale 24/7 solar-plus-storage clean energy project.
- Crown Estate announces £4.5B science hub near Harwell Campus.
- South Africa initiates $1.5B mega city project in Johannesburg.
- Caltrain to be paid for its regenerative power.
- China Energy, PowerChina wins $4.4B in renewables contracts.
- Lime celebrates one billion rides, revolutionizing urban mobility globally.
- Commercial real estate is increasingly adopting blockchain technology.
- The biggest offshore wind farm in the USA will start generating power by March 2026.
- London affordable housing quota slashed from 35% to 20%
- Modular home construction gains ground as homebuilders seek savings.