Real Estate Investor Magazine South Africa Real Estate Investor Magazine - October 2017 | Page 15

FEATURE ARTICLE
The urban population of the world is expected to increase by more than two thirds by 2050,
with nearly 90 per cent of the increase to take place in the urban areas of Africa and Asia. The
world’s urban population is now close to 3.9 billion and is expected to reach 6.3 billion in 2050.
Over the next four decades, Africa and Asia will experience a marked increase in their urban
populations. By mid-century, the urban population of Africa is likely to triple and that of Asia to
increase by 61 per cent. As a consequence, close to 90 per cent of the increase in the world’s urban
population will take place in the urban areas of Africa and Asia. In 2050, most of the urban popu-
lation of the world will be concentrated in Asia (52 per cent) and Africa (21 per cent).
World Urbanization Prospects: The 2014 Revision
indicates that Africa is currently urbanizing faster than at any
other point in history, with projections indicating that the con-
tinent will be the fastest urbanizing region from 2020 to 2050.
As population sizes soar and move into high-density areas,
the way we understand cities is bound to change along with it.
A 2016 article by Parag Khanna, titled Urbanisation, Technol-
ogy, and the Growth of Smart Cities explains that “technology
alone does not make a city smart; it needs smart governance,
smart businesses and smart citizens. A smart city is one that can
effectively leverage technology, infrastructure, public policy and
citizen engagement to create an urban environment that fosters
economic grow and productivity, innovation, social mobility, in-
clusiveness, and sustainability.”
The rise of the mega-city, defined as an area of continuous
urban development and a population of at least 10 million, is
explained in a 2014 article in The Telegraph by Allister Heath,
stating that: “40 years ag