DUBAI, UNITED ARAB EMIRATES
In cities like Riyadh, Jeddah, Dammam/Al Khobar, Dubai, Abu Dhabi, Cairo, Muscat, Doha, Manama and Amman, ongoing urban development is placing a strong emphasis on improving the quality of life for residents. This focus aligns with regional initiatives such as Saudi Vision 2030. In parallel, mixed-use projects are integrating social infrastructure, transforming them from mere "developments" into vibrant "destinations," enriching the overall living experience in these dynamic urban centers.
The research findings have revealed a range of price premiums associated with well-planned mixed-use developments that prioritise Quality of Life and Social Infrastructure, spanning from 15% to 45% across the region. Notably, these percentages see substantial increases when considering additional factors such as the developer's reputation, accessibility to essential amenities like retail, education, health and a growing emphasis on walkability.
Colliers' analysis underscores that a property's premium is not solely determined by its location and build quality; it is equally influenced by the presence of on-site social and mixed-use elements. The harmonious integration of various land uses, supported by community endorsement, exerts a positive influence on property prices. Neighbourhoods that embrace diversity and offer a rich tapestry of amenities, including retail, dining, educational facilities, parks, and communal spaces, are highly sought after. However, the optimal density of these elements depends on occupier demand and local catchment dynamics.