Commercial segments of mixed-use projects

Some common ‘eye candy’ for residents and tourists alikeImage Credit: Supplied

Real estate developers the world over understand that in order to lure more buyers and tenants to their projects in today’s fast-paced environment, where lifestyles and preferences are ever-evolving, they have to deliver what their target markets exactly want. And this could mean giving them everything they need within their reach, right at their doorstep. Thus the advent of mixed-use developments.

Their rising popularity in this part of the world cannot be denied, and it is obvious that property developers here have a pretty intense competition launching projects one after the other. So, what makes a residential destination tick among investors and end-users who prefer a unique lifestyle experience? Their commercial components no less.

Office space – Today’s mixed-use projects generally feature towers that blend office and residential floors. This gives workers the option to live just steps away from their workplace, helping them maintain a healthy work-life balance

Retail segment – Posh boutiques, malls, supermarkets, small shops, pharmacies and even laundry shops add value to any residential project, fulfilling the residents’ basic needs and eliminating or reducing their need to travel far

Dining offering – Restaurants, from casual to fine dining, and cafes generally litter integrated communities, giving residents and visitors a wide range of options to choose from

Hospitality complex – Hotels have become part of mixed-use developments and benefit both residents and visitors. For the former, these easily create a venue for them to unwind on weekends; for the latter, these allow them to avail themselves of the retail, dining and recreational offerings within the community itself

Recreational component – Cinemas (even outdoor ones), children’s play areas, and sports, fitness and leisure facilities add to the multiple conveniences that discerning home buyers are especially seeking

Handy Hints:

* Mixed-use projects consist of residential, commercial properties

* Office space is usually integrated into mixed-use communities

* Dining outlets a common feature in integrated neighbourhoods

Source: Ellen Joyce Soriano, Special to Properties

The writer is a freelancer


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