Sustainable Urban Development in Venezuela: A Management and Economic Perspective

Sustainable development, which is defined by the United Nations through 17 goals, provides a shared blueprint for achieving peace, prosperity, and environmental well-being. Various urban projects worldwide aim to align with these sustainable goals and incorporate them into their design language. Stockholm Royal Seaport stands out as one of the largest sustainable urban developments, striving to become an international model for urban planning. Within the Stockholm Royal Seaport project, the sustainable development goals have been translated into five key strategies including vibrant city, accessibility and proximity, resource efficiency and climate responsibility, let nature do the work and participation and consultation. Here the question is whether the sustainability model works the same for developing countries. To answer, we have selected four projects in Caracas, Venezuela to compare their sustainability model with the base one from Stockholm Royal Seaport. The comparison reveals that the significance of each strategy varies in Venezuela, with some strategies being more prioritized than others. Additionally, two additional strategies, namely education and limited demolition, emerge as noteworthy and exclusive to Venezuela. By exploring these findings, we gain insights into the adaptation and customization of sustainability models in developing countries, shedding light on their unique economic and managerial perspectives.