Theglobalbusinessdistrictsattractivenessreport2025PowerhousesinquestionNovember,2025About

the

report

14Global

survey:what

isexpected

of

GBDs

in2025?4Ranking:evaluating30global

powerhouses6Four

megatrends:redefiningthe

urban

core9ThethirdeditionoftheGlobal

Business

DistrictsAttractiveness

Report,byEYandtheUrban

Land

InstitutefortheGBDInnovationClub,

launcheson

November

14,2025.Thiseditionevaluatesthetop30businessdistrictsworldwideusingexpertinsights,aglobalsurveyof200ULImembers,

anddataanalysisacrosseightcategoriesreflectingkey

trendsandsuccessfactors.ContentGlobal

Business

Districts(GBDs)serve

as

thedynamiccentersofmajorcitiesworldwide,integratingoffice,commercial,residential,andrecreationalspacestomeettheneedsofvariousstakeholders,includingcorporatetenants,developers,visitors,andresidents.In

recentyears,GBDshaveundergone

notabletransformationsinfluencedbytechnologicaladvancements,changingeconomicconditions,

globaldisruptions,andtheincreasingprevalenceofremotework.Thesefactors

haveraisedexpectationsamongoccupiers,

investors,andmanagementteams.IncontrasttotraditionalCentralBusinessDistricts(CBDs),whichprimarilyfocusonadvancedservicesandcorporateheadquarters,GBDsarecharacterizedbytheir

globalreach,connectivity,andthepresenceof

multinationalcorporations.Theyfeaturelarge

officespaces,denseurbandevelopment,and

iconicarchitecture.Functioningasglobalcentersforcapital,talent,anddecision-making,GBDsarerecognizedasasignificantassetclassin

real

estate,attractingcross-borderinvestments.ThisreportexploreswhatdifferentiatesGBDsandhowtheyareadaptingtoemerging

challengesandopportunitiesinarapidlyevolvingenvironment.AsGBDscontinuetodevelop,theypromoteinnovation,sustainability,andurbanresilience.

Policymakersandbusinessleadersareemphasizingsmartinfrastructure,inclusive

communities,andimprovedqualityoflifeto

maintaintheglobalcompetitivenessofGBDs.ThecombinationofdigitaltransformationandsustainableurbanplanningisshapingGBDsintonotonlyeconomicpowerhouses

but

alsoflexiblecommunitiesthataddressfuture

societalneeds.The2025GBDAttractivenessReport,created

by

EY

and

ULI

for

the

GBD

InnovationClub,providesadetailedassessmentoftheworld’s30leadingGBDs.Applyingarigorousmethodology—

includingexpertinsights,aglobal

survey,and

extensive

data

analysis—thereportevaluateshundredsoffactorsimportant

to

stakeholders.GBDs

are

assessed

acrosseightkeycategoriesthatreflectthecritical

driversoftheircurrentandfuturesuccess.ThisreportowesmuchtotheinvaluablesupportoftheULI-ledAdvisoryCommittee,

andweexpressoursinceregratitudetoallcontributorsfortheirparticipationand

assistance.ForewordCHEN

DAIChairwoman,GlobalBusiness

DistrictsInnovationClub,and

Director,Beijing

CBDMARC

LHERMITTEPartner,

EYLISETTEVAN

DOORNCEO,Urban

LandInstituteEuropeTheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClub

|

3Theenduringpowerof

GBDsFiveyearsafterthepandemiccastdoubtonthefutureofoffice-centered

economies,GBDsareontherebound.Accordingtothe2025report,63%ofstakeholdersnow

consider

GBDs

moreattractivethanin2020,confirmingtheirenduringmagnetismas

thecommandcentersoftheglobaleconomy.GBDs

—

such

as

Midtown

Manhattan,London’s

City,

Tokyo

Marunouchi,Paris-La

Défense,andSingapore’s

DowntownCore—hosta

uniqueconcentrationofmultinationalpower,talentandmixed-useinfrastructure.Collectively,theworld’s30largestGlobalBusinessDistrictsemploy

over7

millionprofessionals.Thesebusinessdistrictsshapetheskylinesof

major

citiesandanchorbusinessactivityacrossurbanareasthatgenerate

USD

4.5trillioninannualGDPandthatarehometoa

combined350

millionpeople.Theyareheadquartersto84Global

Fortune500companies,

withatotalof296HQsspreadacrosstheirmetroareas.63%of

stakeholders

view

GBDsasmoreattractivethantheywere

half

a

decade

ago.e

emsin

olpl

4|

The

EY-BDsn0

GoGlobalsurvey:whatisexpectedofglobalbusinessdistrictsin2025?Global

survey:whatisexpectedofglobalbusinessdistricts

in2025?ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClubFinancialdistrictofthecity,Beijing,ChinaChallengesandopportunitiesGBDsnolongercontendwiththeimmediateeffectsofthepandemic,

buttheystillfacemajorobstacles.Theymustadapttonew

economic

realities

andrisingcosts,withonly9%ofrespondentsstrongly

believing

businesses

payfairlyforvaluereceived.Economicuncertaintyandtradetensionsareincreasingexpenses,makingrealestate

—

a

significant

cost

—

a

keyconsideration.Demandforofficespaceislowexceptforgrade

Asustainable

buildings,whilesecondaryofficespacescontinuetoseeweakinterest.Fewerthan

10%ofGBDstakeholdersfeeltheyareeffectivelyaddressingboth

thetransitiontoanetzeroeconomyandclimatechangerisks.Innovationremainsinconsistent,asonly

12%oftheircities’unicorncompaniesare

based

in

GBDs

and

just

19%of

participants

believe

GBDs

foster

an

idealenvironmentforbusinessinnovation.However,thesurveyresultsindicatethatGBDsareprizedforthe

business

opportunitiesandrobustecosystemstheyprovide.44%ofstakeholders“stronglyagree”thatGBDsaretheprimelocationsforbusinessestostay

connectedtoclients,partners,andmarkets,and39%

“strongly

agree”thattheyprovideastrategicadvantageforcompaniesseekingtoattract

andretaintop-tiertalent.9%

ofstakeholders“strongly

agree”thatbusinesses

in

GBDspayafair

price

forthevaluereceived.84

Fortune500GlobalHQs

are

in

the

30

GBDsbenchmarked,withatotal

of296HQs

spread

acrosstheirmetroareas.Global

survey:whatisexpectedofglobalbusinessdistricts

in2025?TheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClub

|

5Asiaascendantaseconomic

gravityshiftsEastFouroftheworld’stoptenglobalbusinessdistrictsarenowsituatedinAsia,reflectingthe

region’srapidgrowthandincreasinginfluence.Beijing’sCBDisranked6th,

benefitingfromaskilledworkforceandstrongresidentialintegration;Singapore’sDowntownCoreleadsincompetitiveness;Shanghai’sPudong-Lujiazui,

Hong

Kong’s

Central

District,Seoul’s

Gangnam,andGuangzhou’sTianhehave

become

keycentersforglobaldecision-making,commerce,andinnovation.Meanwhile,Sydney’sCBDremainsanimportanthubwithintheAsia-Pacific

region.TheprominenceofAsia’sbusinessdistricts

intherankingsmirrorsthecontinent’s,mirroringthecontinent’sacceleratinggrowth(China’sGDP

expanded5%in2024,versus2.8%

in

the

U.S.and0.7%

in

Europe).Despiteheadwinds,historicglobalbusinesshubsstill

lead

therankingsEstablishedecosystemscharacterizedbyleading

corporationsinindustry,energy,advertising,technology,financialservicesandpublicinstitutionscontinuetoleadtheEY-ULIoverallGBDrankings.Yet,forthefirsttime,NewYork’s

GBDs—

Midtownandthe

Financial

District

—

takethetoptwoglobalspots,followed

byTokyo

Marunouchi,

Paris

La

Défense,andLondon’sCity.Midtown’sdominancerestsonits24

millionsqm

ofofficespace,unmatchedtalentdepth,sqmindustrydiversity.Marunouchihosts

16Fortune

500HQs,whileLa

Défense

retains

Europeanprominencethankstoinvestmentsinaccessibility

andamenities.TheCityofLondon

remainsafinancialtitandespiteBrexit-relatedheadwinds.Ranking:evaluating30

globalpowerhousesRanking:evaluating30

global

powerhouses6|TheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClubMidtown(NewYork)1FinancialDistrict(NewYork)21.82Marunouchi(Tokyo)31.82LaDéfense

(Paris)41.81TheCity(London)51.79BeijingCBD(Beijing)61.71DowntownCore(Singapore)71.71Gangnam(Seoul)81.68CanaryWharf(London)91.63Bankenviertel(Frankfurt)10

1.57FinancialDistrict(SanFrancisco)11

1.55Zuidas(Amsterdam)121.55CentralDistrict(Hong

Kong)131.53Pudong-Lujiazui(Shanghai)141.53CBD(Sydney)151.46TheLoop(Chicago)161.43AZCA(Madrid)17

1.42FinancialDistrict(Boston)18

1.41Downtown(LosAngeles)191.35FinancialDistrict(Toronto)20

1.27DIFC(Dubai)21

1.25TianheCBD(Guangzhou)22

1.21PaulistaAvenue(SaoPaulo)23

1.13Downtown(Houston)24

1.08KAFD(Riyadh)25

1.82Levent(Istanbul)26

1.01BandraKurlaComplex(Mumbai)27

1.00OuterRing

Road(Bangalore)28

0.84Santa

Fe(Mexico)29

0.83Sandton(Johannesburg)30

0.68ULIandEYapplied

criteriatoseveralhundredcitiesandtheirbusinessdistrictstoidentify“GlobalBusinessDistricts”,

basedonfactorsincludingapopulationgreater

than2million,the

presence

ofskyscrapersinhigh-densityurbanareas,officerealestatestockexceeding500,000sqm,and

asignificant

number

of

internationalheadquarters,financialservicesandinstitutions.The2025rankingevaluates30

GBDsacross

19countriesusing2,400data

points

in8categories(MacroeconomicConditions,Market

proximity,Talent,Influence,

RealEstate,UrbanAmenities,InnovationandSustainability).Categoryweightsweredeterminedby

the

proportion

of

executiveswhoratedeachfactoras“veryimportant”inthesurveydata.Each

oftheindicatorswasassignedaweightbasedonitssignificancewithinitscategory,usingthesameapproach

as

the2020reportand

other

international

surveys.Moreover,oneachindicator,adistance-to-frontierapproachwasapplied,meaningthateachscorewasmeasuredrelativelytothebest-performingGBD.Thisresulted

inbothacomprehensiveoverallscoreandseparatescoresforeachcategory.IstanbulFinancialCenter(IFC)inAtasehir,Istanbul,TurkeyCategories

Talent Marketproximity

Influence

Macroconditions

Realestate

Urbanamenities

Environment

InnovationRanking:evaluating30

global

powerhousesOverall

ranking

of

30

global

business

districtsTheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClub

|

72.10NorthAmerica:thetwoNewYorksshine,othersstruggleWhileMidtownandtheFinancialDistrict

dominateglobally,otherGBDsfacepersistentvacancyandsafety

issues.Theaveragevacancyrateamongbenchmarked

NorthAmericanGBDsisnowclosetothreetimeshigher

thanthatoftheirAsianpeers—asignificantshiftfrom

2020,whenvacancylevelswerebroadlycomparable,illustratingpost-pandemicofficedecline.Yet

Boston,TorontoandSan

Franciscohavereinvestedinsustainabilityandfocusedontechinnovation.Chicago’s

Loopretainsadvantagesinconnectivityandscale,with

10

millionsqmofofficestockservedbyallCTA

lines.InEurope,the

raceforthecontinentalcrownhasbeenintenseInEurope,therankingandtrajectoryofGlobalBusinessDistrictsmirrorthecontinent’sbroader

lossofcompetitiveness,amidsluggishgrowth,politicalandeconomicuncertainty.ThesixleadingEuropeanGBDs

host

2.5timesfewerFortuneGlobal500headquartersthantheirAsianpeers.Dataalsoshowamarked

shift

in

capital

flows:in2024,realestateinvestmentvolumesinthetop

EuropeanGBDsandtheirhostcitieswere60%

lowerthan

inAsia—

areversalfrom2020.Inthiscontext,Paris-La

Défenseclaimsthetopspot,narrowlyaheadofTheCity.Othercontenderspoststrong

scores

in

specific

categories

such

as

London’s

CanaryWharfandFrankfurt’sBankenviertelinsustainability,Madridfortheaccessibilityandqualityofitsrealestate

supplyandAmsterdamforproximitytomarkets,clients,

andpartners.Bankenviertel(Frankfurt,Germany)MiddleEast,

Indiaandemerging

markets:newcontendersriseDistricts

in

Dubai

(DIFC)and

Riyadh

(KAFD)

rankamongthefastestclimbers,thankstofavorablemacroconditionsandpro-investmentpolicies.DIFC

ranks2nd

formacroeconomicenvironment,whileKAFDis5th

and

11th

in

realestate.In

India,Bangalore’s

Outer

Ring

Road

could

emerge

as

akeyhubforAIinthefuture,withthecityhometo94,000

AIprofessionals

—

theworld’sdensestconcentrationofAItalent.Elsewhere,districtslikeBandra

Kurla

Complex(Mumbai),Sandton(Johannesburg),SantaFe(MexicoCity),andPaulistaAvenue(Sao

Paulo)stilllagduetoinfrastructuredeficitsandregulatoryuncertainty,buttheir

growthpotentialremainssignificant.Thefullreportprovidescategory-specificrankings,accompaniedbydetailedanalysisand

comparison

with

the2020report.Ranking:evaluating30

global

powerhouses8|TheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClubThereporthighlightsfourkeytrendsandrelatedchallengesthatinvestors,occupiers,developers,architects,andmanagersofglobal

businessdistrictsneedtoaddresstoremainrelevantandresponsive

tochangingconditions.Because,astheheadofa

US

GBD

confirmed,

“businessdistrictsthatdon’tchangearedead—clingingtothestatus

quoisn’tan

option.”Thereportpredictsthatthenextgenerationofglobalbusinessdistrictswillmovebeyondtheirpurelycommercialoriginstobecome

“socialdistricts”,vibrant,integratedandinclusiveenvironmentsthat

combinework,living,culture,andsustainability.Thewinnerswillbe

thosewho:.Attractworld-classtalentthroughurbanvitalityandaccessibility..Reinventrealestateby

renovatingexisting

buildings

and

achieving

environmentalexcellence..LeveragetechnologyandAItoenhanceuserexperience

and

adapt

tothedigitalera..Committolow-carbongrowthandsocialinclusion.Fourmegatrends:redefiningtheurbancoreFour

megatrends:

redefiningthe

urbancoreTheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClub

|

9ThetyrannyoftalentTalentremainstheultimate

currency76%ofstakeholdersranktheabilitytoattractandretainkeytalentas“veryimportant”intheirlocationchoices.Yettheparadigmofworkischanging.“Geopoliticsisnotthemainchallenge.Therealchallengelies

infinding

talent”saidoneinvestorinterviewedforthereport.Toattractandretainskilledprofessionals,GBDsareembracing“work-live-play”strategies.ThesurveyrevealedtheHRpriorities:46%ofrespondents

highlight

housingcostsasakeychallenge;41%of

respondentscall

forbettertransportlinksand32%seecongestionasamajor

risk.Mixed-use

districts

like

Sao

Paulo’s

Paulista

Avenue(whereresidentsnearlyequalemployees)andParis

La

Défenseleadthisshift.37%ofrespondentsnowcitevibrant,holisticenvironmentsasadecisivefactorinchoosingadistrict.HybridworkandAIWorkparadigmsintheseareashaveevolvedconsiderably

sincethepandemic.Globally,white-collaremployeesnowspendanaverageof3.4daysperweekinthe

office,

oftenoptingforhybridmodels.IntheUnited

States,

office

returnratesrangefrom45%to65%,comparedto70%to

100%inAsia,withEuropesomewherein

between.Thereportaddressesthedualimpactofartificialintelligence(AI).Ontheonehand,itcontributestoeconomicgrowthandthecreationoftechnology

jobs;on

theother,increasedautomationcouldreducethedemand

forrolesandthusforofficepropertyin

GBDs.thenextthreeyears.Pudong-Lujiazui(Shanghai,China)ofrespondentsconsiderthehousingaffordabilitychallengesfacedbyemployeesasthe

primary

threatGBDsneedtotackle

over46%Four

megatrends:

redefiningthe

urbancoreMEGATREND#110|TheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClubPremiumofficespaceprovesmoreresilientCollectively,GBDsoffer

126millionsqmofofficespace,predominantlypremium,formingthelargestconcentration

ofofficerealestateintheworld.DemandforofficeshasremainedrelativelysteadyforcategoryAbuildings(premiumquality,technologicallyequippedandmeeting

thelatestenvironmentalstandards).Theriseinpriceswithoutadramaticdeclineindemandisevident,forexample,intheCity(+40%between2019and2024)and

MidtownManhattan(+30%),illustratingthatcompanies

arewillingtopayhigherrentsforiconic,sustainableand

service-richoffices.Incontrast,lowerqualityofficespacescontinuetoattract

muchlessinterest,andaformofobsolescence

can

beobservedatmanysitesacrossmostGBDs.The

surveyhighlightsthat37%ofbusinessleadersnowfavor“flexible

andtechnological”workspaces(up23percentagepoints

comparedtothe2020survey).Ongoingeconomicpressureand

risingvacancyratesGiventhecurrenteconomicclimate,thefocusisonthecompetitivenessofrealestate:40%ofrespondentsareseeking“fairvalue”(up

14percentagepointssince2020),

andonly9%believethat“companiespayafair

priceforthevaluereceived”.GBDstakeholdersfacesignificantheadwinds:hybridworkinghasreducedaverageofficespaceby

15to30%,costpressures(realestateistypically

thesecondlargestexpenseafterHR),andvolatilemarket

conditionsforinvestorshavecontributedtoa4.7-pointincreaseinvacancyratessince2020.GBDsevolvinginto“magneticneighborhoods”GBDsarenowblendingoffices,shops,housing

and

leisure.

Theirurbanvibrancyisbecomingthe“newnormal”forthosewhodesignandequipthem.GBDsmustnow

offerawiderangeoffacilitiesandservicesthatenhancetheexperienceforallusers,creatinglivelyandattractiveenvironmentsatalltimesofday.Thisdemandssignificant

attentiontosecurityandthecreationofcarefullycurated

experiences—

eveningevents,pop-upactivities,culturalprogramming—

thatencouragepeopletosocialize,linger

andexplorebeyondtheoffice.Furthermore,competitionis

intensifyinglocally,wheresmallerandmoreagilebusiness

districtssucceedinfosteringambianceandenergy,attractingcreative,technologyandR&Dcompanies,which

inturndrawtheattentionofinvestors.important”

.JakartasouthcentralbusinessdistrictThesoftandhardpower

of

real

estateIncrease(inpercentagepoints)since2020in

the

share

of

GBDstakeholderswhoconsiderpaying

fairvalueformoneyas“very+14Four

megatrends:

redefiningthe

urbancoreMEGATREND#2TheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClub

|11Thedual

roleof

technologyTechnologyisbothanenableranddisruptor.It

reshapes

real-estatedemand,drivesoperationalefficiency,anddefinesfuture

competitiveness.27%ofrespondentscallAIprojectsessentialto

GBDs’strategy;42%stresscollaborationbetweenuniversities,researchcenters,andindustryascritical.SmartInfrastructureforOperational

EfficiencyArchitects,developersandGBDmanagersareadoptingadvancedtechnologiestoenhanceoperationalefficiency,sustainabilityandtheoveralluserexperience.Inthiscontext,27%of

professionalsviewAIpilotprojectsasessential.Yetthistechnologicalmomentum

alsobringschallenges-fromsecurityandregulatoryissuestoinvestmentrequirementsandshortagesinspecializedexpertise.Despite

these

challenges,69%of

stakeholders

believe

GBDs

remainthebestplacesforinnovationtoflourish.Amongthesolutionsexploredinthereport:Singapore’sMarinaBay

integratesIoTand5Gformobilityandenergyefficiency.

Paris

LaDéfenseusesAI-drivendatatomanagecongestionandpollution.BeijingCBDemploysAIfortrafficcontrolandsecurity.Digitaltwins,modularconstruction,andpredictivemaintenancearenow

standard.InnovationEcosystemsfortheDigital

Age“

TheideaofCanary

Wharfisnotabusinessdistrict,butan

ecosystem”,saysarepresentativeofCanaryWharfGroup.Comingfromanoffice-centricurbanmodel,GBDsmustincreasingly

buildinnovationecosystemstoenhancetheireconomicappealandhelpoccupiersremaincompetitiveinarapidlydigitalizing

landscape.Stakeholdershighlighttwoimmediatepriorities:investinginadvanceddigitalinfrastructure(46%)andstrengthening

collaborationbetweenuniversities,researchinstitutionsandindustry(42%).InBerlin’sMediaspreeandBarcelona’s22@,

innovationclusters

link

startups,universities,andventurecapitaltofostertechgrowth.of

stakeholders

believe

GBDsshouldpromoteAI

pilotprojectswithinthedistrict

topositionthemselvesasleadinghubsforinnovation.27%Four

megatrends:

redefiningthe

urbancore12|TheEY-ULIglobalbusinessdistrictsattractivenessreportDubaiInternationalFinancialCentre(Dubai,UnitedArabEmirates)MEGATREND#3fortheGBD

InnovationClubSecuringasustainable

futureLookingahead,becomingclimate-resilientandlivablewillbeastrategic

imperativeStakeholdersidentifythreeprioritiesforimprovingGBDs’environmentalperformance:developinglow-carbonmobility(54%),

retrofittingexistingbuildingstomeetgreenstandardsalignedwith

occupiers’andemployees’expectations(49%),andenhancinggreen

andblueinfrastructuretocreateclimate-resilient,biodiverse,andeco-friendlydistricts(46%).“

We’veshiftedfrom

providing

parkingspacestosupportingcycling

andgreencommuting,”oneEuropeanoccupierinEMEAsaid.Indeed,newmobilitystrategies—bikelanes,

electrictransport,

pedestrianization—

anchorsocialinclusionandlivabilityinthe

sustainabilityagenda.Europeandistrictslead,withFrankfurt’sBankenvierteltoppingthe

sustainabilityranking,followedbySanFrancisco’sFinancial

District

andLondon’s

City.Thechallengeofcost,regulationand

technologyYetambitionlagsaction:lessthan

10%“stronglyagree”thatGBDs

aremeetingclimatetargets;

just41%believethey’re“effectivelymanagingphysicalclimaterisks”

.Bestpracticesindicatethatthe

mostsuccessfuldistrictsstrikeacarefulbalancebetweencost,innovation,andenvironmentalstewardship.Byintegratingthese

elements,GBDscancreateresilient,inclusive,andfuture-readyurbanecosystemsthatachievebotheconomicandenvironmental

objectives.Public-privatepartnershipsfinanceretrofitsandcarbonreduction

projects—forinstance,Guangzhou’sTianheStandardalignslocal

practiceswithglobalESGbenchmarks.Citieslike

London

andBrusselsenforcea“retrofit-first”rule,makingdemolitionthe

exception.agree”thatGBDsareeffectively

addressingthechallengesposedbyclimatechangephysical

risks.Four

megatrends:

redefiningthe

urbancoreMEGATREND#46%TheEY-ULIglobalbusinessdistrictsattractivenessreportfortheGBD

InnovationClub

|13ofstakeholders“stronglyThe

Global

Business

Districts

Innovation

Club

is

aprofessionalnetworkcomprisingleadingbusinessdistricts

worldwide,theirmanagementcompanies,urbanplanning

authorities,andspecialistsfromrelatedfields.Itaimstopoolresourcestopromotecollaboration,facilitateknowledgeexchange,boostvitalityandappeal,encourage

innovation,andsharebestpracticesamongsomeoftheworld’smostinfluentialtertiaryhubs.EY’sglobalpurposeis“buildingabetterworkingworld”bycreatingnewvalueforclients,people,societyandthe

planet,whilebuildingtrustincapitalmarkets.Enabledbydata,AIandadvancedtechnology,EYteamshelpclientsshapethefuturewithconfidenceanddevelopanswersforthemostpressingissuesoftodayandtomorrow.ThisisparticularlytrueintherealestateindustrywhereEYteamsworkacrossafullspectrumofservicesinassurance,consulting,tax,strategyandtransactionsforoccupiers,investors,developersandconstructioncompanies.Fueledbysectorinsights,agloballyconnected,multidisciplinarynetworkanddiverse

ecosystempartners,EYteamsprovideservicesin

morethan

150countriesandterritories.ULI,the

Urban

Land

Institute,isanonprofitresearchandeducationorganizationsupportedbyitsmembers.Its

missionistoshapethefutureofthebuiltenvironmentfor

transformativeimpactincommunitiesworldwide.Founded

in

1936theinstitutehasmorethan48,000membersworldwide,representingtheentirespectrumof

landuseandrealestatedevelopmentdisciplinesworking

inprivateenterpriseandpublicservice.Amultidisciplinary

realestateforum,ULIfacilitatesanopenexchangeofideas,information,andexperienceamongindustryleadersandpolicymakersdedicatedtocreatingbetterplaces.MemberssayULIprovidesinformationthey

cantrust,andthatitisaplacewhereleaders

cometo

growprofessionallyandpersonallythro