Looking Into Property New Trend "Lifestyle Mall"

The property development trend is more vary. And the one of the list is, how can the developers provide the shopping center in their residential area or at the below level of the apartment buildings.

Many property management try to make a join work with many shopping department vendor for complementing their residential area. There are some concepts of their experiments : starting from Department store, super mall, to the popular trend today : The Lifestyle Mall.

Maybe you are often heard these mall concept. What is the different with the most mall before? Formerly, before the mall is built massively like today, the people is still lack of mall supply and they are very proud if their residential area is close to the big shopping central.

But, by the time, there are many new shopping mall that built in the big city (the example is Jakarta, where we can say there is a mall available in every 100 meters). Therefore, the people is starting to bullish this trend of development, because the big mall usually very crowded and jammed.

The property developers is trying to develop a new concept. But, they cannot sacrifice the prestige and the comprehensive living concept for resident needs. And today, they starting to develop the Lifestyle Mall concept.

Let's take a look, what is the difference of this new concept that the old one. We can see through all of our new mall and compared to the old ones. Did you notice the different with them?

From the tenant side, we can see any difference. Compared with the old one, today's mall is not equipped with many tenants. They just equipped with enough tenants just for covering the resident's daily needs and small prestige purposes. Usually, the new mall doesn't have duplicate tenant models inside their mall. For example, the Lifestyle mall only have 1 coffee shop or have only 1 hypermarket.

But, if you take a look with the old concept, you can see many competiting tenants. Some shopping center may have more than 3 or 4 types of same concepts tenants. Maybe that is for covering visitor burst because a single tenant cannot covers too many visitors.

If you visit this kind of mall once a week, maybe is very interesting. But if you must walk through these kind of mall daily, you might be very stressful. Because of this reason, the Apartment lobby and mall lobby is placed in different place.

Finally, the parking access is the reason. With the big super mall, they need a very spacious parking place. Imagine if there are bursting people entering the mall in one day. The residents won't have enough space for park their vehicle. Usually, the visitor of the lifestyle mall is can be predicted and seldom to burst.

So, there are much differences between these two. You can still living above the comprehensive mall for covering the daily needs but isn't sacrificing the residents comfort. Some of Surabaya's lifestyle mall are : The Central, 88 Avenue, Grand Sungkono Lagoon, Marvell City.

What is "SOHO" Means On Property World?

The property market is always growth every time. This condition force the property developers to researching and develop new concept that can be acceptable in the market. The developers are already developed many concept including apartment, housing, condotel, villa, shop houses, and many other property types. And now, property is entering new world of development, called SOHO.

What is SOHO concept? In Indonesia, SOHO concept is not to famous like the developed countries, even in Jakarta city. At Surabaya, there are few developers that develop SOHO concept in their own land and the market is still not to high (compared with Jakarta or another big city around the world). So far, there are only few project that using SOHO concept in Surabaya including 88 Avenue and Ciputra World.

SOHO is abbreviated from Small Office Home Office. Almost same with the shop house concept, SOHO can be use for stay and office space. But if it same, how it can be a "new concept"?

The difference of the SOHO and Shop house is only "where and how developers built it". This means, if the shop house is developed and built on the landed area then the SOHO is developed and built in vertical (like apartment). And this would be SOHO's main disadvantage because your own unit cannot be seen from the main street directly. 

Using unit with SOHO concept, you can use it for stay or opening office without encountering government regulation, because SOHO is built for that condition. As you're not opening office against law, it's possible.

So, how about comparing conventional shop house and SOHO? There are a little of consideration you can see about it :

SOHO and Shop House Comparison

Plus :

1. Prestigious location. Due to limited land banks in the big city, usually Shop House cannot developed on the main street or protocol area because the land bank is not enough. But with the SOHO, developer only need a little space for the building with hundreds unit in it. This can reduce the price too while giving the customer a prestigious office address.
2. Fewer maintenance fee. SOHO's maintenance fee is relatively cheaper than conventional shop houses. Any of building maintenance importance have been included with the service charge, so the maintenance is handled by the building management already.
3. Much safer. Conventional shop house can be easily broken by the bandit or theft if it's haven't added by owner's advanced security system. But the SOHO always have completely advanced security system added by building management and only authorized person can access through the building. So the unit will much safer.
4. Have many facilities. SOHO is built with many facilities on it. This is because the SOHO unit is designed for living and working, so the management must make sure that the occupant have a comfort live in their unit. And this is your advantage because you can use it with your clients or employee for free!
5. Better rent price. The rent price of SOHO is relatively higher than conventional shop houses. This is because the large companies usually prefer with SOHO that have a prestigious address and advanced security rather than the conventional one.

Disadvantages :

1. SOHO's space is relatively smaller than conventional shop houses. But, there are SOHO that have very large space too but you must pay more too.
2. Cannot renovate unit's facade. This is because the facade is joined with the main building facade.

If we see the whole advantages and the disadvantages, the SOHO have more advantages compared with conventional shop houses. And, how about the Office Space? I'm sure you've already know that the Office Space cannot be used for living and stay. And on some Office Space, you can charged with additional fee for overnight operation.

And, that's the article of the SOHO. If you have any inquiries for searching or renting a SOHO in Indonesia (especially in Surabaya city), you can reach me through the contact form and it's free of charge.