A semi-government agency intends to develop a new commercial real estate development. Due to continued development activities and the ample supply pipeline, the approach was to create high differentiation across the development program.
At the same time, the plan entends to maintain superior affordability and functionality to the potential tenant.
The development program concentrates on pedestrian mobility. The project revives the traditional Arab town.
The residential and commercial clusters connect through the retail component, which offers an open marketplace. The maximum walking radius of 400m offers high connectivity levels.
Mix-use towers directly connected to the market provides high flexibility for the development mix. Connection to a blend of hospitality, residential, and commercial buildings create a fully integrated development that is highly functional.
The detailed value generator analysis, specific to the proposed site, proved a high demand for flexible hospitality and commercial offerings. Real Estate developers are still not addressing these subsegments. Accordingly, each of the hospitality and office components caters to a specific target market segment.
The project generates a 35+% IRR. Similarly, the recommended HBU will boost the land market value by 140%.