First timers should consider entry through an aggressive hybrid equity fund
As modern cities advance at an unprecedented pace, urban development is also evolving in order to meet the demands of diverse communities. Over the years, various factors have steered the path of this evolution and one such factor is mixed-use projects. By blending residential, commercial and recreational spaces, mixed-use projects play a substantial role in creating unique spaces where people can live, work or meet lifestyle needs within a single neighbourhood.
The UAE, home to a diverse spectrum of global populations, views these developments as a necessity rather than a trend. It mirrors the region’s commitment to be a testament to sustainable development and transform its economy to be the benchmark for environmental consciousness, connectivity, convenience and a better quality of life.
One of the key factors that makes mixed-use developments stand out is its capability to promote sustainable urban growth. By seamlessly combining residential, commercial and leisure spaces, these developments reduce the need for long commutes, which in turn aids in lowering traffic congestion and carbon emissions. In the UAE, this feature holds great significance since the country prioritises sustainability in its every strategy.
Apart from being a propeller of sustainability, in cities like Dubai and Abu Dhabi, mixed-use projects are often classified as high-end, luxury spaces. It is particularly due to these developments’ potential to equally cater to the needs of both residents and tourists. It offers a wide range of amenities, including office spaces, retail outlets, restaurants, parks and cultural venues.
Furthermore, the strategic position of mixed-use developments in the UAE comes in light of its alignment with the government vision. Dubai Urban Master Plan 2040 was announced with the aim of transforming the city into an embodiment of sustainability, efficiency and connectivity. Additionally, the country’s dedication to ensuring sustainability is evident through various initiatives; for instance, the UAE’s Green Agenda 2030 seeks to preserve social development and quality of life while bringing the nation’s emissions and energy consumption down to less than 100 kilowatt-hours per capita. Similarly, Abu Dhabi’s Estidama Pearl Rating System reflects the country’s focus to encourage sustainable construction methods. These initiatives’ targets revolve around the common aim of developing communities that are resilient, adaptable and forward-thinking.
Meanwhile, while evaluating the benefits of mixed-use projects from an economic perspective, these developments offer a robust return on investment. The diversified nature of these developments helps attract a multitude of tenants and customers. For developers and other stakeholders in the industry, this feature comes as a boon as they are not forced to rely on a single type of property or market segment. Moreover, the blend of residential and commercial spaces ensures a stable flow of foot traffic, benefiting businesses and service providers within the development.
Designed and developed to be more than just a space to live or work, mixed-use projects allow people to connect and engage with others, thus inculcating a sense of community. Parks, public plazas and cultural venues in these developments promote social interaction and create a strong sense of belonging. In an increasingly digitalised world, the relevance of these community-oriented features cannot be overstated.
Even though it is not a new concept, mixed-use developments have gained momentum in the past few years as a strategic response to the challenges and opportunities of urbanisation. Being a common and easily approachable strategy, it is widely adopted by cities that prioritise sustainability, economic vitality and community engagement. Supporting the growth of cities and its diverse communities, mixed-use developments are anticipated to play a pivotal role in shaping the urban landscapes of the future and creating a lively environment for people.
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