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What Is A Mixed-Use Development?

What Is A Mixed-Use Development?

A mixed-use or integrated development is a type of urban development, urban planning that blends commercial, residential, retail, entertainment sometimes even transport facilities into one space, a single building, a development or an entire neighbourhood.

These developments are unlocking new opportunities in way of life; hence, this could be likely to be a contributing factor to why many companies have moved their offices to an integrated development which they could find everything they need for a lifestyle living in one large development.

Why Are Mixed-Use Developments Popular?

Demands are shifting, an office is today more than just a place to work for many, it is part of their lifestyles. Mixed-use developments take that convenience to a whole new level. Many companies today do not limit to typical 9.00am to 5.30pm working hours, taking care of their staff safety and welfare became top priority. Making sure their staff can easily get food, coffee, entertainment, gym, shopping, grocery even happy hour and yet easily access to public transport will cut the risk to minimal and also help attract any kind of talent that is going after something a little bit special in their work space.

Mixed-use projects are also deemed as “greener” developments as they make the best use of the land and supporting infrastructure. In addition, a greater emphasis on sustainability and in reducing carbon footprint as climate change becomes the defining issue at this juncture.

Exploring Mixed-Use Developments near you

  1. Tun Razak Exchange

The Tun Razak Exchange, TRX also known as Kuala Lumpur International Financial District is a 70-acre development in the heart of Kuala Lumpur. A Malaysian government’s Economic Transformation Programme aimed for international finance and business. The master plan includes a total of 26 buildings and over 21 million ft2 of total building Gross Floor Area (GFA) spread across office, residential, hotel, retail, F&B and cultural offerings.

The iconic The Exchange 106, 95-floor topped with a 12-storey high illuminated crown making it 445 m (1,460 ft) tall. The tower net lettable area of 2.6 million square feet with a luxury column-less floor space ranges from 28,000 to 34,000 ft2. As of October 2019, about 500,000 ft2 of Exchange 106 floor space has been taken up by large tenants, including a top five Fortune 500 global consulting firm and various MNCs all to be part of the fame in TRX with Prudential HQ, HSBC HQ & Affin Bank HQ as neighbours.

The focal point of TRX – The Exchange, a shopping, dining, leisure and entertainment destination featuring over 500 of the world’s leading retailers, anchor department store, dining and entertainment. The Exchange will integrate with a 10 acre of open green space public park served by two interchangeable MRT Line. MRT Sungai Buloh-Kajang (SBK) Line run through densely populated areas of Damansara in the northwest and Cheras in the southeast through the central business district of Kuala Lumpur city, one station from Bukit Bintang and Sunway Velocity, another mixed-development. MRT Line 2 estimate to be ready by July 2021.

  1. KL Eco City

KL Eco City, a 25-acre integrated transit-oriented development in CBD of Kuala Lumpur, comprises office, residential, hotel, retail and F&B. As of first quarter 2020, 75% of office building occupancy rate include some renowned names like Samsung, Gibraltar BSN, Zurich Insurance, F-Secure, China Construction Development and Phillip Wain.

KL Eco City mall serves as a soul of the development offering approximately 250,000 ft2 of grocer, gym, retail and F&B to cater the needs of the population. KL Eco City is served by two interchangeable rail lines, LRT Kelana Jaya Line (KJL) and KTM Komuter stretch from Port Klang to Tanjung Malim. The pedestrian link bridge connecting the rail stations to KL Eco City Mall all the way to The Gardens / Mid Valley City mixed development, extending wider reach of offices, hotel, retail, F&B and more lifestyle options.

With everything you can find within one development, you can probably see why mixed-use developments are enjoying such popularity. There is definitely more mixed-use development to offer somewhere near to you.

Contributed by: Nikki Ang

For further details please email nikki@hartamas.com

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