The Urban environment in Singapore is changing. With scarcer land and increasing need for integrated lifestyles, the mixed-use developments are fast becoming a trend and defining characteristic of the real estate sector. These multi-functional schemes that integrate residential, commercial, retail, and even recreational in a seamless manner, are redefining the way people live, work and communicate with their local societies.
Mixed-use developments are made up of mixed components of property with each having residential, office, retail, hospitality and even entertainment or medical operations in a single interconnected complex. These ecosystems provide living, working, dining, shopping, and relaxation opportunities without the occupants having to leave the building and its immediate surroundings. Prominent examples in Singapore include:
Singapore has for a long time practised sustainable and innovative planning due to the scarcity of land. By increasing the land optimisation across mixed-use developments, it is possible to minimise urban sprawl, functional densities.
The modern-day city residents are concerned with comfort and a healthy work-life balance. Neighbouring workplaces, grocery stores, entertainment, and access to public transport will shorten commuting, as well as stimulate livelier and more walkable communities.
The Urban Redevelopment Authority of Singapore (URA) has strong support for integrated land use planning. Mixed-use concepts have further been promoted by policies that give preference to transit-oriented developments (TODs) such as MRT stations.
Investment-wise, mixed-use gives an investor diversification of income. The presence of retail, office, and residential occupants allows them to bring stability to revenue and, therefore, these developments can perform better during an economic downturn.
Mixed-use developments are likely to increase as Singapore transitions to becoming a smart and sustainable city. Future developments such as Greater Southern Waterfront, Jurong Lake District and Tengah New Town are being planned around mixed-use concepts.
Furthermore, as interest in green building, smart technologies, and wellness living increases, the second generation of integrated development will probably include:
The emergence of mixed-use developments is part of a larger change in the way we conceptualise urban living in Singapore. The combined areas not only make life and daily practices of its users more convenient, but also create more cohesive communities, decrease carbon imprint, and create a more lasting investor value. Mixed-up development is the future of connected, sustainable urban living for homebuyers, investors, as well as developers.
EAP is an all-in-one real estate website that allows you to buy and sell your property worldwide. We live in a global world today, and we believe that everyone should have the power of buying property anywhere in the world, no matter where they are.
Learn MoreGet maximum leads from genuine buyers.