Housing and retail: Finding the right mix

Source: GulfNews

Housing and retail: Finding the right mix

The link between residential and commercial space has been a recurring theme in real estate developments across the UAE. Creating the right mix has been a key challenge for developers, especially when integrating retail with residential schemes. Retail has certainly emerged as a vital component of any development and in many cases has helped increase the marketability of a building or community. Dubai real estate developers are accordingly getting more precise in targeting specific buyer segments and tenants, aiming to cultivate a self-sustaining community with a vibrant retail centre at its core.

“With the Dubai residential market becoming more competitive, developers have recognised the need to differentiate their projects from others,” says Craig Plumb, head of research at JLL Middle East and North Africa. “Including a range of support services is a long-established means of doing this; while this is not a new trend by any means, its use is definitely increasing. Also, the trend for these units to be leased rather than sold is rising.”