Why Asia’s mixed-use developments are the future of real estate
The trend in Asian cities for dynamic integrated communities that fuse real estate with commercial, leisure, and other amenities shows no sign of slowing
Blink and you’ll miss it. Another sliver of horizon vanishes behind the latest high-rise in the Sathorn and Silom areas of Bangkok. Historically home to the city’s central business district, these twin neighbourhoods have been in constant flux for more than a century. Back in the late 1800s, they were little more than a rural patchwork of paddy fields. But nowadays it is not rice stalks reaching for the sky, but buildings.
Two developments represent the latest evolution of the Thai capital’s CBD. Dusit Central Park, under construction on the nine-acre former site of the iconic Dusit Thani Hotel, will upon completion next year encompass three skyscrapers, including a new hotel, luxury condos, and an office tower. The structures will be interconnected by an eight-storey retail podium that has a rooftop park, combining commercial, residential, and leisure spaces within a single development.
The scale of development, however, pales compared to nearby One Bangkok. Located on the other side of Lumpini Park, this goliath USD3.9-billion undertaking will eventually feature five Grade-A office towers, three luxury hotels and serviced apartment towers, and four retail precincts, totalling 1.83 million square metres of gross floor area. Notably, the RitzCarlton Hotel will grace the first 25 floors of a 50-storey office tower, marking its debut in the city.
These mega mixed-use projects were conceived well before the pandemic fundamentally altered the real estate scene. But the timing could not have been better. In recent years, investor and homeowner trends have shifted considerably. Increasingly, they are recognising the value of living within a community that is self-sufficient not only in terms of basic amenities but also comprehensive social infrastructure.
“Mixed-use environments play an integral role in the revitalisation of our cities because they are designed to be experience-driven,” says Ben Tranel, principal architect at global design and architecture firm Gensler. “By serving diverse populations and a wider range of functions, they create dynamic and inclusive spaces that people want to be part of.”
From Singapore to Saigon and Metro Manila to Phnom Penh, Asia’s major cities are embracing mixed-use developments at an unprecedented rate. Not simply buoyed by buyer preferences, these all-encompassing large-scale projects are often antidotes for grappling with the shared problems of spiralling urban sprawl and traffic congestion.
Such developments can also help cities absorb the shocks and stresses that accompany pandemics, disasters, and climate change, according to Indonesian politician Bambang Susantono, who currently serves as the head of the Nusantara Capital City Authority.
By serving diverse populations and a wider range of functions, mixed-use environments create dynamic and inclusive spaces that people want to be part of
“Urban infrastructure and services have struggled to keep up with Asia’s transformation over the past 50 years,” he wrote in a recent Asian Development Bank article. “But in today’s world, and to deliver a better world for future generations, falling behind is no longer an option.”
Yet mixed-use projects are also proving to be popular beyond city centres and suburbia. Traditionally a tourism-reliant island, Phuket was forced to diversify during the pandemic, with the island’s major hotel investors shaking up their business models. The spike in interest in its real estate market subsequently sparked a surge in mixed-use developments. According to Bill Barnett, founder of hospitality consultant C9 Hotelworks, of the island’s current 1,500 registered hotels, about 50 percent are now incorporating a real estate element.
“Hospitality groups use branded residences; there are hotels but there’s also a real estate element. We’re seeing more and more developers using this mixed-use model, and it makes a lot more sense,” he says. “You’re mitigating your development risk, you’re getting early cash flow, and a better return.”
Call them townships, integrated communities, or mixed-use developments, but the popularity of projects comprising hospitals, schools, retail, and green space, amongst myriad other amenities, is inevitably encouraging developers to become more innovative about how they design and build commercial and residential real estate.
With that in mind, we round up some of the latest award-winning mixed-use developments from around the region.
Summarecon Bekasi by Summarecon Agung
Where?
Summarecon Bekasi is situated at the nexus of Greater Jakarta’s latest expansion, and while seclusion from the urban sprawl may be the obvious drawcard, convenience remains paramount. Proximity to Jakarta’s heart, as well as local amenities such as top-tier educational establishments, healthcare services, and retail destinations, is facilitated via direct access to Jakarta-Cikampek Toll Road and the KH Noer Ali Flyover.
Why buy?
Set to become Bekasi’s CBD over the next decade, this minimetropolis will feature a selection of premium residences— from landed houses to condo villas—alongside myriad amenities. These include upscale shopping malls, business hubs, a fresh market, schools, and places of worship. Lush green spaces, meanwhile, will breathe fresh air into this 2.47-million-square-metre megaproject.
Wow factor
Amidst the comprehensive amenities and premium residences, a commitment to creating lush, breathable landscapes sets this development apart. These green spaces not only enhance the aesthetic and ecological value of the township but also significantly improve the quality of life for residents, offering much-needed respite from one of the region’s most populous cities.
Andaman by Eastern & Oriental Berhad
Where?
E&O’s Andaman is a luxury bolthole built on reclaimed land just across the water from Gurney Drive and Seri Tanjung Pinang—Penang’s most coveted addresses. This 760-acre project merges waterfront cool with city zest, producing one of George Town’s most anticipated upscale residential developments in recent years. For those seeking the best of all worlds within easy reach of the World Heritage city, the master-planned island’s unique concept is hard to beat.
Why buy?
Set against the backdrop of Phase 1’s completed Shoreline, offering waterfront homes and a linear park, and the future promise of mixed-use development in Canalside, Andaman is already making waves. With The Meg and Arica introducing 1,400 residential units, homeowners can choose from various iterations ranging from cosy 567-square-foot spaces to expansive 1,259-square-foot homes. The upcoming Gurney Green phase, meanwhile, will introduce a hub for business, retail, and entertainment, alongside sustainable amenities and green spaces
Wow factor
It is difficult to look beyond the sheer ambition and location of the project when choosing a standout feature. Still, the 90-plus acres of dedicated green initiatives undoubtedly impress. Phase 1 alone introduces more than 200,000 plants, focusing on local species to foster biodiversity. Andaman’s eco-conscious commitments extend to rainwater harvesting and stormwater collection for landscape maintenance, alongside amenities for electric vehicles, energy-efficient lighting, and comprehensive waste management.
Marum Estate by Sir Stamford Raffles
Where?
The emergence of “greater” Phnom Penh is continuing apace, boosted by a slew of developments including the Cambodian capital’s brand-new airport. Located in South Kandal just 12 kilometres from Techo Takhmao International Airport, Marum Estate is one of the more ambitious communities aiming to cater to those eyeing the perks of suburban expansion with nearby urban convenience.
Why buy?
Inspired by Singapore’s all-inclusive townships, the 22.6-hectare project, due for completion in 2026, will feature 642 residential units, including three- to eight-bedroom houses for small to multigenerational families. Smart home technology and sound security systems come as standard, while onsite amenities run the gamut from leisure facilities like swimming pools and fitness centres to medical facilities, a private school, and a commercial centre.
Wow factor
Set against verdant mountain vistas and abundant green spaces, the estate’s resort-style landscaping and wellnessoriented amenities provide an arguably unmatched lifestyle choice in Cambodia. Thematic gardens foster mindfulness and community, while comprehensive leisure facilities cater to relaxation and fitness, making it one of the Kingdom’s most holistic residential developments to date.
Pueblo de Oro Townscapes Malvar by Pueblo de Oro Development Corporation
Where?
Located in South Luzon, Pueblo de Oro Townscapes Malvar is ideally poised only moments from Malvar Town Proper and the STAR Expressway, providing easy access to Lipa, Tanauan, and Metro Manila. The development, part of a broader 212-hectare project, is set against the stunning backdrops of Mount Makiling and Taal Volcano in a community that combines eco-friendly living with impressive connectivity.
Why buy?
Potential homeowners can choose from a variety of properties within the 212-hectare development, including Pueblo de Oro Residences, Townhomes, and The Enclave. Onsite amenities, meanwhile, cater to outdoor types, with highlights including futsal lawns, fitness trails, yoga decks, and multi-sports courts, to name just a few.
Wow factor
The 1.5-kilometre “Green Loop of Life” is a linear park connecting the themed residential areas. Scenic and cohesive, the outdoor space for recreation and relaxation underscores the development’s commitment to promoting a healthy lifestyle and fostering a sense of community amidst nature.
Mailand Hanoi City by Phu Long Real Estates Corporation
Where?
A 45-minute ride from Hanoi’s hectic heart, this 300-hectare development was conceived to be an antidote to the Vietnamese capital’s occasionally unbearable urban sprawl. Still, connectivity with upcoming infrastructure like Ring Roads 3.5 and 4—slated for completion in 2026—will ensure residents remain within easy reach of the capital.
Why buy?
Influenced by Hanoi’s inclusion in the UNESCO Creative Cities Network in 2019, Mailand Hanoi City integrates more than 1,000 residential and commercial units in a setting where creativity and innovation can flourish. The project emphasises creative spaces, such as an innovation museum and art exhibitions alongside essential amenities, plus extensive green areas, a golf course, educational institutions, and wellness facilities.
Wow factor
Dubbed Hanoi’s “first creative hub”, the project’s Contemporary Art Centre has ambitions of fostering creative collaboration and innovation among artists, residents, and visitors alike. Featuring interactive installations, digital art platforms, and spaces for live performances, it will bridge traditional Vietnamese artforms with contemporary global trends.
Brigade Cornerstone Utopia by Brigade Group
Where?
Situated at the heart of India’s Silicon Valley, Bengaluru’s Whitefield, Brigade Cornerstone Utopia benefits from proximity to major tech parks, lively shopping and entertainment hubs, top healthcare facilities, and some of the Karnataka capital’s best restaurants and bars. The development’s connectivity is bolstered by well-developed roads and public transport options, ensuring culture, entertainment, and wellness are a stone’s throw away.
Why buy?
With more than 4,000 units spanning studio apartments to luxury homes, the 47-acre integrated township is a compelling proposition for homeowners of all stripes. Standout innovations include adaptable living spaces, bike-friendly avenues, comprehensive health and wellness facilities, creatively designed public areas, and a strong commitment to environmental stewardship.
Wow factor
The community-orientated ethos of the township is epitomised by the “urban forest” spanning more than an acre and featuring 12,000-plus diverse trees. This integration of a vast, biodiverse green space within a large-scale city development is a rare find anywhere, never mind amidst Bengaluru’s urban jungle.
This article was originally published on asiarealestatesummit.com. Write to our editors at [email protected].
Recommended
Meet the Bitkub CEO turning real estate on its head with cryptocurrency and tokenised ownership
Jirayut “Topp” Srupsrisopa, CEO of Thai crypto exchange Bitkub, is a true believer in the potential of digitised finance
6 sights to spot in Jardine’s Lookout, Hong Kong
With its sumptuous harbour vistas, this low-density area is one of the most sought-after in Hong Kong
Meet the architect rethinking disability in urban spaces and how cities can be reimagined
Author David Gissen outlines his vision for urban development that takes the needs of disabled citizens into consideration
Why Asia’s mixed-use developments are the future of real estate
Dynamic integrated communities are fusing real estate with commercial, leisure, and other amenities