Welcome!

News Feed Item

Canada Ranks No. 1, 2 and 3 in International Index of World's Most Resilient Cities

Canadian cities take the top spots in Grosvenor's Resilient Cities research

LONDON, ENGLAND -- (Marketwired) -- 04/08/14 -- A report released today by Grosvenor's research team suggests that Canadian cities are the best bet for long-term real estate investment, with Toronto, Vancouver and Calgary taking the first, second and third spots respectively. The research ranks 50 of the world's top cities according to their resilience: a product of their environmental and social vulnerability and adaptive capacity, which covers community, infrastructure, resources, environmental and climatic factors.

"Toronto is no stranger to the importance of resiliency, having endured natural disasters such as the 1998 ice storm and even Hurricane Hazel, in 1954," said Richard Barkham, Grosvenor's Group Research Director. "The investment of city leaders in infrastructure and its commitment to upgrading it over the decades has put Toronto at the top of Grosvenor's list of the world's most resilient cities."

"Canada, as a whole, is doing exceptionally well in developing resiliency. The top three most-resilient cities in Grosvenor's Resiliency index are Toronto, Vancouver and Calgary. For investors in property and real estate, it makes Canada a very sound long-term investment."

Chicago ranked fourth in overall resilience, coming in as the top US city in the study, due in part to its inland location that makes it less vulnerable to rising sea levels and storms. When ranked by adaptive capacity, however - the ability to cope with and recover from adverse events - New York City took first place, as demonstrated by its rapid recovery from both 9/11 and Hurricane Sandy. US cities took six of the seven top spots in the adaptive capacity ranking; New York is followed by Toronto, Los Angeles, Washington, DC, Chicago, San Francisco, and Houston.

Grosvenor's Resilient Cities study is being released at the Urban Land Institute's Spring Meeting in Vancouver, Canada, April 8-10, 2014. ULI CEO Patrick Phillips said: "Grosvenor's research will help greatly in advancing the dialogue among the public and private sectors on how to make cities less vulnerable and more resilient. In our view, environmental sustainability, community liveability and economic prosperity are all necessary components of long-term city resiliency. This report will inform ULI's ongoing work regarding the resiliency and adaptability of cities around the globe."

Commenting on the research, Grosvenor's Group Research Director Dr. Richard Barkham also said:

"This research provides us with a powerful tool to use when looking at the risks and opportunities of long-term real estate investment in cities around the world. It helps Grosvenor, our clients and partners, to look beyond classic, but limited definitions of real estate investment risk, which have little meaning over the long-term, and instead broadens our understanding of a city and its risk profile.

"We are not suggesting that you shouldn't invest in those cities that place lower down the rankings, but the research highlights the risks those cities face and enables more informed decision making. In some cases there could be greater opportunities, especially where a city has made a step change in its commitment to improving its adaptive capacity."

Mark Preston, CEO, Grosvenor Group said:

"Grosvenor has been investing in and developing real estate for over 300 years and a holistic understanding of the cities that we are active in is integral to the success of our business. It is certainly reassuring to see that we have long been active in some of the world's most resilient cities and this research gives us insight into where we may want to have a presence in the future."

Key findings from the research are:


--  The most resilient cities are in Canada, with Toronto, Vancouver and
    Calgary taking the top three spots respectively.

--  American cities are relatively vulnerable, but their capacity to adapt
    makes them fairly resilient. The lowest ranked cities are also those
    with the highest population forecast figures.

--  The middle group of cities, ranked 11 to 30, are fairly close to the top
    10 in their scores so must be considered resilient. Most European cities
    fall into this group. London is ranked 18th.

--  The weakest 20 cities are in emerging markets and are considerably
    weaker than the top 30. Eight of these are in the so called BRIC
    countries. So far, blistering economic growth has not fed through into
    the quality and long term resilience of these cities.


Dr. Barkham added:

"If you are investing with a short-term perspective, a portfolio of the resilient cities won't necessarily be less volatile; in fact you would have a more volatile portfolio if you only invested in the top five cities as they are very similar and moving in the same cycle. However, investors with a long-term perspective, such as pension funds or sovereign wealth funds can deploy capital in these cities and be confident that if they take a knock they will bounce back in a relatively short term. These cities are safe havens in a rapidly changing global environment."

Grosvenor's living cities approach recognises that the future success of our business is tied to the sustainable growth of the cities in which we invest, and understanding a city's resilience, its ability to avoid or bounce back from an adverse event, is an integral part of this.

A copy of the report, including the final resilience rankings, is available online at www.grosvenor.com.

Notes for editors

Grosvenor is a privately-owned property group with offices in 19 of the world's most dynamic cities. We have regional investment & development businesses in Britain & Ireland, the Americas and Asia Pacific. Our international fund management business operates across all these markets and also Continental Europe. We also have indirect investments, managed centrally. As at 31 December 2012, the Group had total assets under management of GBP 12.2bn. Unusually for a private company, Grosvenor publishes a full Annual Report & Accounts, available at: www.grosvenor.com

Resilience rankings:

To view a chart associated with this press release, please visit the following link: http://media3.marketwire.com/docs/938426.jpg.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...