“The Aga Khan Development Network attaches central importance to the role – in the world in which we work – of property impact investment,” said Mawlana Hazar Imam. “Whether one is developing a university, a hospital, a school, a park, an historical site, a commercial enterprise, a municipal facility, or a regional network of institutions, land planning, building development and financing are fundamental variables.”

In October 2011, the Urban Land Institute honoured Mawlana Hazar Imam with the J.C. Nichols Prize, which recognises an individual, or a person representing an institution, whose career demonstrates a commitment to the highest standards of responsible development. "Through the Aga Khan Development Network, progress and improvements to communities have been undertaken in over 30 countries," said James DeFrancia, chair of the 2011 Nichols Prize jury and principal of Lowe Enterprises in Aspen, Colorado.

Connecting the Imamat's interest in urban planning with the historical precedent of the founding of Cairo a thousand years ago, Mawlana Hazar Imam outlined the activities of the Aga Khan Development Network during the past 50 years. He noted that impact investing in property development has a relatively short history to date, but holds much potential.

“What now is needed most are knowledgeable intermediaries who fully comprehend the realities of business risk and reward in the property field – while also understanding what it takes to improve the quality of life for the engaged populations. I believe that both the Urban Land Institute and the Aga Khan Development Network can bring a great deal to this stimulating discussion.”