Expanding business real estate - what is viable?

Alternative business hubs are an important planning agenda item for the governments of all hot Asian economies. Hong Kong and Singapore have evolved traditional residential quarters like Taikoo Shing & Tampines in recent years into residential, business and recreational destinations. Great infrastructure, glitzy commercial and retail outlets and satellite offices of prominent organizations from financial services, technology and media. These hubs help average out real estate valuations providing alternatives to owners and tenants and drive a more holistic economic development process

What normally makes business districts sought after are location and critical mass of businesses, shopping and entertainment options. In Singapore, this will further intensify as the new premier Shenton Way real estate develops and the integrated resort gets ready.

While building new business hubs might ease the congestion and soaring rentals, they will need to provide suitable alternative value propositions, similar to what the original business district does, to be considered as an alternative. The planning process by Asia’s governments’ will need to take this into consideration and put in suitable plans to drive this successfully.