Eng. Mohammed Abdulghaffar AlKooheji
Chief Executive Officer
The real estate industry touches people’s daily lives, whether in education, health, or residential. As an evolving industry, with time, its consumers evolve as well.
Today the lasting effect of various factors on how people live, work, and play has impacted the overall real estate developments and residential development in particular.
The appeal of the quality of life that the residential developments offer, caters to the growing demand for higher living standards in the GCC. The future of residential developments of gated communities’ compounds, high-rise residential towers, and townhouses, can offer the very best in lifestyles and sustainability.
The developers of these residential projects have to consider the lifestyle they wish to create by forming a balance between growth and maintaining the community’s character, which is key to the planning of any development while considering the overall lifestyle.
The modern-day residential towers look and feel more like luxury five-star hotels than a typical home. Residential developers should consider a hospitality inspired approach to remain competitive, by offering close attention to detail that can only be found in luxury 5-star hotels, while providing a customer-centric approach that delivers a high level of satisfaction to its residents.
Going beyond high-end amenities within the residential development, and offering what impacts people’s lives, such as the growing shift of remote jobs and work flexibility, is something that greatly impacted residential design concepts.
Considering the future of residential development, the developers must create a holistic lifestyle in a place where people can live, work, and play. By creating personal living spaces and building amenities that attend to their needs for both business and pleasure, they ultimately support the neighbourhood character for community cohesion. Achieving excellence in real-estate major projects such as high-rise residential towers through creating shared amenities and luxury hospitality services has become essential for such developments to succeed. Such projects play a huge role in transforming people’s lifestyles, and only projects that are well developed and maintained with these considerations in mind can truly make a difference to both the residences and the communities.
The process in which customer insights are at the centre of both the design and initial stages of the residential development to have digital technologies embedded up front into the design and customer experience factored in, has proven to be the future of real estate development.
A developer with a customer-informed vision that defines the customer segments will enable them to serve and offer customers’ an experience with the development and showcase how it will look and feel beforehand. Research and market insights can help in understanding customers more deeply and help developers not only understand customers’ requirements or needs but also anticipate other functional and emotional needs and wants, to take important design decisions.
This article was published as part of the eighth edition of Property Finder Bahrain’s Trends Report.