11 billion-dollar mega-projects that will transform the world's greatest cities by 2035

August 30, 2017

11 billion-dollar mega-projects that will transform the world's greatest cities by 2035

europa city paris bjarke ingels group

The world is rapidly urbanizing. The United Nations predicts that the number of people living in cities could double by 2050 — to 6.5 billion.

To accommodate growing populations, cities like Paris, New York, and Tokyo are building more housing and public resources, including parks, schools, and subways, as part of large redevelopment plans.

These cities will likely look very different (and in some neighborhoods, gentrified) in the coming decades. Take a look at some of the biggest urban projects under construction below.

Shanghai, China — Todtown

Set to be complete by 2020, Todtown is a new mixed-use development in Shanghai's Minhang District.

The development will feature 1,000 apartment units, a 1.3 million-square-foot shopping mall, an additional 580,000 square feet of retail, 1.5 million square feet of office space, and a 53,000-square-foot cultural center, according to InHabitat. Todtown will also incorporate lots of greenery, from green roofs to mini parks scattered throughout.

The master plan was created by Chicago-based architecture firm Goettsch Partners and Hong Kong-based studio Lead 8.

Construction on the $1.5 billion project began in 2014.

Cairo, Egypt — New Cairo Capital

East of downtown Cairo, New Cairo Capital will be a 270-square-mile hub with 21 new residential districts — enough housing for five million people.

The development is being financed largely by Chinese developers. (The China Fortune Land Development Company, for instance, put down $20 billion for the project in late 2016, according to CNN.)

New Cairo Capital will also feature 1,250 mosques and churches, a 5,000-seat conference center, nearly 2,000 schools and colleges, over 600 medical facilities, and what is projected to be the world's largest park.

Egypt Housing Minister Mostafa Madbouly told the BBC that the project would cost $45 billion and be complete by 2022. Construction began in 2015.

Paris, France — Europa City

In 2016, Paris began building an 8.6-million-square-foot mixed-use development, called Europa City, north of downtown.

Designed by Danish architecture firm Bjarke Ingels Group (the company behind Google's California headquarters), Europa City promises housing, shops, and restaurants, though the exact numbers of each are not confirmed yet. The development is also slated to include plazas, an artificial ski slope, open walkways, a golf system, and a new transit system.

Triangle de Gonesse, the suburb where it will be located, is still largely rural. But according to Europa City's developers, the goal of the $3.4 billion project is to connect the area with urban Paris and reduce congestion downtown.

Construction started in 2016 and is expected to wrap up by 2024.

See the rest of the story at Business Insider