What Are Mixed Developments?
Mixed Developments (or mixed-use developments) are properties that have come to be an increasingly popular concept in Singapore. This can not only be seen in upcoming projects by developers, but also in directions by the Government. For example, the CBD Incentive Scheme aims to rejuvenate the city area by introducing more mixed developments.
It is a type of development that encompasses varying usage – such as residential units with a retail mall, or residential units with F&B eateries and integrated with a bus interchange.
In this sharing – I will cover on mixed developments that comes with residential units.
The mixed-use concept started off as tiny developments, but with time, have grown into big projects that has to be quite successful in attracting buyers. With the popularity of mixed developments growing, there have been a growing trend of potential buyers looking for such properties.
The construction of mixed developments makes sense too. In Singapore, land has to be developed with a purpose. Mixed developments allow for more effective use of a limited land plot by combining different uses. This gives residents in mixed developments the convenience of having everything right at their doorstep.
What Are The Types of Mixed Developments in Singapore?
There are many different types of mixed developments in Singapore. Most commonly seen is the the type with residential units at the top and a retail mall or individual shops found below on the ground floor. However, increasingly we are seeing mixed developments with different uses all across the country.
We will look at a few examples of mixed developments in Singapore – in different locations from the city to city-fringe, and to the further heartland areas. I will share about the different elements for these projects to let you have a better idea of how different mixed developments can be.
The Orchard Residences
One of the most iconic developments in Singapore. The Orchard Residences sits at the heart of the famed Orchard Road stretch, right at the top of Orchard MRT.
The development comes with 3 main usages – Residential, Retail Mall & MRT
With direct, sheltered access to Orchard MRT and ION Orchard that provides big brands and numerous eateries/restaurants; residents are spoiled with choice. They even have direct access to other big malls along the Orchard Road stretch.
Midtown Bay
Midtown Bay is an upcoming integrated development in Bugis that is well-suited to the modern individual.
It comes with 4 main usages – Residential, Grade A Offices, Co-Working Space and Retail.
With open, public spaces that seamlessly links its amenities to the surroundings, residents get to walk to retail options on the development itself as well as nearby malls such as Suntec City and Bugis Junction. They also get access to the co-working space provided, which works perfectly if they are self-employed.
Park Place Residences
Park Place Residences is located at Paya Lebar – 3rd CBD of Singapore.
There are 3 main usages for this development – Residential, Retail & Offices.
Residents get to enjoy the mall linked opposite with its popular restaurants – Paya Lebar Quarters along with other malls nearby. It is also linked to Grade A offices in the same vicinity. The MRT station is just beside and residents can get to town in just 4 MRT stops.
LINQ @ Beauty World
The LINQ @ Beauty World is a freehold project located next to Beauty World MRT.
It has 2 main usages – Residential and Mall.
Not only residents get to enjoy the shops right at their doorstep, Beauty World offers a plethora of amenities for them in the surrounding area. They will also get to walk directly to Beauty World MRT in just 3 minutes.
Sengkang Grand Residences
Sengkang Grand Residences is a major project located at Buangkok MRT.
This projects comes with a whopping 6 main usages! – Residential, Community Club, Hawker Centre, Retail Mall, Bus Interchange & MRT Station
If you are working from home, will you ever need to leave Buangkok? Probably not! Sengkang Grand Residences is one of the few mixed developments that offer so many usages in a single site.
How Is It Different For Me?
I’ve talked mainly about mixed developments that come with a residential element. So, how does staying in such a development benefit you? Well, a mixed development unit gives you the best of both (or more) worlds.
Firstly, you get to live in a condominium while enjoying the convenience of all the other uses within the development – say a supermarket, a restaurant right at your door step or quick, sheltered access to the MRT.
Secondly, while living in a condominium, you will also benefit from all the amenities found within the condominium like swimming pools, gyms, carparks, child care and more.
It is this convenience that attracts people to obtain a home at a mixed development.
Why Should I Get a Mixed Development Unit?
While we talked about how staying in a mixed development project gives you the best of both (or more) worlds, is it really worth it (beyond the convenience)?
Well, the answer to the above question is: It depends.
Why do I say that? Because as with any development – there is a need to assess its value beyond a single factor. Mixed developments included. A proper assessment will evaluate factors such as potential gains, rental potential, price value, exit viability and etc.
However, if all these factors do not interest you, then we can look back to the above section again. If they do matter to you, do your own due diligence before committing. If not, feel free to contact us and we will be glad to help! 2021 has been the year of mixed developments, and 2022 will continue to be the same. We are sure there might be one just for you!
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