{"id":3968,"date":"2019-09-05T08:53:38","date_gmt":"2019-09-05T08:53:38","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=3968"},"modified":"2021-06-04T14:37:51","modified_gmt":"2021-06-04T07:37:51","slug":"mixed-use-to-dominate-future-development-in-asia","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/mixed-use-to-dominate-future-development-in-asia\/","title":{"rendered":"Mixed-use to dominate future development in Asia"},"content":{"rendered":"

Say goodbye to \u2018zoning\u2019<\/p>\n

\"\"
The South Jakarta central business district. Creativa Images\/Shutterstock<\/figcaption><\/figure>\n

As major recent projects across the region attest, developers are retreating from single-use schemes in favou<\/span>r of high-density, mixed-use developments that encompass living, working<\/span>,<\/span>\u00a0and retail space in single projects.\u00a0<\/span>\u00a0<\/span><\/p>\n

The benefits of mixed-use are not\u00a0purely\u00a0economic. More than\u00a0allowing developers to diversify assets, they\u00a0also\u00a0result to\u00a0environmental\u00a0benefits.\u00a0Dierckxsens\u00a0point out,\u00a0\u201cHigh-density living massively reduces the carbon footprint compared to traditional\u00a0single-family\u00a0homes, which can be found all over Europe and America.\u00a0Combined with an efficient public transport system, they remove the need for private cars as well. Within minutes,\u00a0one can reach a metro station that is connected with the rest the city,\u00a0and daily amenities\u2014restaurants, supermarkets, malls\u2014are all within walkable distance.\u201d<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Residents of high-density cities traditionally score a lower per-capita carbon footprint than even rural environments. Successive studies since 2009 by the International Institute for Environment and Development (IIED) reported that the average emissions in New York City\u2014one of the most densely populated areas in the world with roughly 28,000 residents per square\u00a0kilometre\u2014remain about 30 percent less than the U.S. average.\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Mixed-use schemes are also one of the rare places where both developed and developing Asian economies find common ground. In southern China, Macau,\u00a0and Hong Kong, projects like Kowloon\u2019s millennial-centric\u00a0Skypark apartment and clubhouse complex, as well as the Zhuhai International Convention\u00a0Centre, a complex of exhibition and office space with integrated hotels, are maximising land plots in a densely developed and progressive region.\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

More: 6 of Asia\u2019s best resorts within mixed-use developments<\/strong><\/a><\/p>\n

The developing world is following suit. Jakarta\u2019s District 8, a complex of 11 towers across 4.8 hectares of the Sudirman Central Business District, has\u00a0reached completion. Developed by the Agung Sedayu Group, it brings residences and a public park right into the heart of South Jakarta\u2019s financial zone.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

In Bangkok, TCC Group\u2019s One Bangkok (in partnership with Golden Land and Frasers Property Limited) is a USD3.5-billion development that covers an area one-third the size of the adjacent Lumphini Park and encompasses living and work space for 60,000 people, including residential buildings, office towers, retail zones,\u00a0and publicly accessible parks and green spaces.\u00a0<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Regina Lim, head of capital markets research, Southeast Asia at JLL, explains\u00a0why mixed-use is so attractive to developers. \u201cAs cities become more developed and densities become higher, it makes sense to build more mixed-use developments,\u201d she\u00a0says. \u201cMixed-use developments bring together complementary uses. Retail shops benefit from the natural catchment of offices or hotels or apartments while the residents and workers enjoy the convenience. As maintenance management schemes become more sophisticated, they allow effective property management of these integrated projects. Apartments with these amenities sell well.\u201d<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

The future of mixed-use development will increasingly be dictated by the demands of the wider public. Ping Jiang, the Shanghai-based design principal at EID architecture firm, points to the role that public interaction with multiple-use development plays in bringing life to central city locations outside of business hours. \u201cThe future of mixed-use development is about the spatial and experiential quality of space,\u201d he\u00a0says. \u201cNot only will we increasingly see mixed-use take over from dedicated office or retail blocks, but also more innovative uses, maybe a new type of hybrid project varied in scale and its mix of functions.\u201d<\/span>\u00a0<\/span><\/p>\n

\n

This article is the fourth in a five-part series. It originally appeared in Issue No. 153<\/a>\u00a0of\u00a0PropertyGuru Property Report Magazine<\/a>. Read the\u00a0first, <\/a>second<\/a>,\u00a0third<\/a> and fifth<\/a> parts<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Say goodbye to \u2018zoning\u2019<\/p>\n","protected":false},"author":8,"featured_media":20256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[81,97],"tags":[473,472,474],"class_list":["post-3968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-depth","category-magazine","tag-integrated-developments","tag-mixed-use","tag-placemaking","news_country-asia","news_author-oliver-irvine"],"acf":[],"yoast_head":"\nMixed-use to dominate future development in Asia | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/mixed-use-to-dominate-future-development-in-asia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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