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Tuesday, 27 October 2020 07:03

Why Mixed-Use Developments Could Be For You

By Masuma Hassanali

As the world population is on the increase, suitable land for property development is becoming scarce which means the price of land is likewise on the increase. Recently, a solution to combat these challenges has risen with prominence to deal with these complexities. We call them mixed-use real estate. These are developments that are built to merge a mix of retail, commercial and residential units that use space effectively in the context of an ever-growing population.

Enaki Town, Nyari - www.enaki.town

So what’s behind the admiration of mixed-use real estate?

Mixed-use developments aim to aid quality in retail, residential and commercial services in large suburbs, ultimately breathing new life and energy into areas that didn’t previously have much of a focal point. By integrating diverse types of real estate into a single project, mixed-use developments bring together all foundations of neighbourhood, often described as a Live-Work-Play community where people can enjoy all aspects of life in one place.

Mixed-use developments not only bring a community to life, but they bring life to a community.

Enaki Town, Nyari - www.enaki.town

A Shift in Property Aspirations

Traditionally, there has been a negative perception towards the idea of sharing space with commercial and retail areas as it takes away from the idea of a quiet home in the suburbs.

There are some indications that this mind-set is changing.

Shifting consumer behaviour amongst the younger generations have had a role to play in the demand increase for mixed-use developments and this is to be seen with different generations having diverse property aspirations. Home ownership in the suburbs, once classified as the quintessential dream, has declined among the people who now look at merging convenience and lifestyle, placing priority in living within a vibrant area close to their work, shop and leisure activities.

Enaki Town, Nyari - www.enaki.town

Experience Enhanced Real Estate

As the property market progresses, experience based real estate is now on the rise with consumers aspiring to pair a high-grade product with a phenomenal living experience to indulge in. Mixed-use developments offer a chance at this through the very design and structure in which it is created, making this an ideal place for lifestyle upgrades.

Enaki Town, Nyari - www.enaki.town

A seamless blend of services

The right mix of residential, retail and commercial are particularly crucial for a mixed-use development to be successful. If each facet does not compliment the other, developers can face a challenge not being able to fill the new space. There needs to be the right combination of residential, retail and commercial for home-owners to feel the peace and tranquillity that a home offers, for shopping to be made accessible for easy convenience and businesses to receive footfall to thrive. All these services need to work in synchrony together that aren’t a detriment to each other but rather an augmentation to an upgrade in lifestyle.

Enaki Town, Nyari - www.enaki.town

Convenience at your doorstep

Because mixed-use developments merge a number of services, it brings multiple uses into what creates a cohesive development. In the past, many people living in suburbs would have to commute to places of work, recreation and convenience to cater for their day-to-day activities and duties, whereas now this type of real estate provides services within reach and close to where they live. The objective of this kind of real-estate is to create an opportunity for people to have access to all the uses they need, reducing unwanted lengthy commutes.

Enaki Town, Nyari - www.enaki.town

Neighbourhood connections

With the increase of mixed-use developments comes an increase in shared community spaces that enhance neighbourhood connections. Spaces could range from patios, community rooms and fitness centres that give all tenants of the building an area to meet each other and take part in recreational activities. Tenants can enjoy some fresh air, meet and greet neighbours, and engage with the surrounds of the neighbourhood eventually building and strengthening a community.

Enaki Town, Nyari - www.enaki.town

More green spaces

Mixed-use developments have also pointed towards being a green and sustainable route. The effective use of space in itself creates a more sustainable option making it soar in popularity for more ethical living. Furthermore, a number of developers are aiming to use green materials that cultivate energy efficiency for the consumers, which ultimately go a long way in creating a better world for its endurance. In addition to protecting the life cycle of the property itself, the energy efficiency aspect is appealing for many tenants – a factor that is likely to see them around for quite some time.

Enaki Town, Nyari - www.enaki.town

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