We often use the term “residential complex”, “mixed-use complex”, etc. But what is it and how does the complex differ from a separate residential building? Which format is better and more profitable? Let’s figure it out.

What is the difference between a multi-complex and a separate residential building?

We in the CIS are accustomed to the fact that each house has a clear purpose – residential, commercial, administrative, etc. However, in the last decade, the format of multifunctional complexes or, as they say, multi-complexes, which combine the features of both the housing stock and other types of premises – from trade and banks to gyms and clinics, began to gain popularity.

The essence of the approach is that the residents have everything at hand and to receive any service they would not have to go anywhere further than their complex. Moreover, a modern complex can consist not of one house or block, but of several, turning into a real “city within a city”, where only residents and service employees have an entrance.

The format of multifunctional complexes itself is not new – it is already many decades old. However, earlier they were considered too complicated and expensive to build, which is why they were not massive. Such complexes began to be built first in tourist and business locations in the USA, the EU and the Far East, and then in Turkey.

Recent trends in the construction industry in Europe and neighboring countries suggest that construction companies have perfectly mastered this difficult format and offer it en masse to a wide variety of audiences – both the more prosperous and the middle class.

Moreover, in Turkey, this trend has gained unprecedented scope and new qualities – local developers have gone further than all competitors and put the construction of multifunctional complexes on stream without loss in quality and comfort. If the early foreign complexes included only elements of commercial and entertainment infrastructure, then modern Turkish facilities offer residents everything they may need for life, leisure and work, often with an emphasis on hotel service and increased security.

Interestingly, the hotel infrastructure became part of the multi-complexes later than the rest of the elements, but now it is found almost everywhere. Not least thanks to the effective Turkish experience, which has shown all the advantages of such a synthesis. We can say that Turkey has become a trendsetter in the construction of multifunctional complexes.

Interestingly, the modern format of such residential complexes with the integration of everything that residents need has a number of advantages for investors. This is a kind of closed ecosystem, where the inhabitants not only live, but also rest, and in quarantine conditions they also work. In other words, people immediately spend money, and often earn. This makes investments in such complexes very promising.

The investment attractiveness of such complexes is preserved both in the short and long term – versatility allows investors to make a profit at all stages of the development of the object. A one-time profit is provided by the sale of residential and commercial premises, which can also be rented out. Then investors make a profit from the maintenance of the complex – the developed hotel infrastructure is considered especially profitable.

Even local authorities get what they want, especially in large densely populated cities, where there is already very little space. Since all elements of both residential and non-residential infrastructure are located on the same area, very compactly, there is a very efficient use of land, as well as saving all resources during construction – the road and local area is drawn up by the developer himself, and not by the city authorities, as is the case with a detached apartment building.

As a result, all parties get what they want. Residents purchase the most comfortable housing and all services right in the complex, which operates in the “city within a city” format. Investors, on the other hand, get new opportunities to receive both one-time and permanent income.

The main risk of such large-scale multifunctional complexes is their long-term. Until all the blocks and all zones are erected (zoning is used in especially large complexes), it may take 10 years or more. During this time, both the socio-economic and international situation may change. In other words, another global crisis or other adverse event may occur. However, everyone has become accustomed to constant crises and has learned how to deal with them – at least in Turkey.

But enough theory. It’s time to look at a specific example of what a modern “city within a city” might look like. The best example here is the mega project in Beylikdüzü, Istanbul. And it is still under construction. This means that it is not too late to join the project as an investor and purchase housing with good monetization prospects. On our website, the object number is 5355.

“A city within a city” in Istanbul: comfort of the highest standard

Istanbul is one of the largest cities in Europe. It has a great history and a successful future. Once upon a time, emperors and sultans lived here, and now it is the business and cultural elite of Turkey. This is the “heart” of the Turkish economy, where huge cash flows circulate. The new canal connecting the Black Sea and the Mediterranean Sea increases this business activity even more.

But such antiquity and densely populated make the problem of lack of free territories urgent for Istanbul. The best option for its solution is the construction of a multifunctional complex. This is exactly what is being built in the Beylikdüzü area. This is a real mega-project, the largest in Istanbul – and there, in general, everything is large and it is very difficult to stand out in scale.

The developer claims that it will be one of the largest projects in all of Turkey, not only in Istanbul. The area of the complex in Beylikdüzü is over 1 million square meters, it will be a real “city within a city”, located on the first coastline of the Sea of Marmara.

The complex combines luxury and comfort in one project. On the first line, there will be placed villas “single” and “twins”. Behind them there will be houses with a low number of storeys – up to 5 floors, divided into three zones. Each zone is under round-the-clock security and video surveillance.

The third level will be high-rise buildings – up to 13 floors, as well as private residences. Four free-standing high-rise blocks will have a magnificent view of the marina. There will also be terraces with panoramic sea views, green ornamental gardens that will be laid out around the houses and much more.

Good transport infrastructure adds value to the complex. Plus, 1.5 km from the complex there is a well-equipped sandy beach, and not every district of Istanbul has access to the sea and places for swimming. This recreation area has even been awarded the Blue Flag for its high standards of service and excellent water quality. Nearby is the largest port in Istanbul, designed for 900 yachts.

Directly on the territory of the complex there will be a private marina (harbor for private yachts), a hospital, a shopping center, cafes, restaurants, a sauna, a cinema room, a video game room, various shopping and entertainment facilities. There will be not just a gym, as in all other similar complexes, but its own elite sports complex with many halls and a sports club with courts for tennis, table tennis and squash, available only to local residents. There will even be a riding club.

An interesting detail is that despite the fact that externally the houses within the complex will be similar, the internal layout of the apartments can be very different so that everyone can choose the most convenient configuration of the rooms.

The residential complex is still being completed, but some of the houses are already ready and there you can see the decoration of the apartments. They now offer housing in the format from 1 + 1 to 4 + 1. Apartments are rented to residents on a turnkey basis. This means that they already have the highest quality interior decoration, solid furniture, windows with better sound insulation, fully equipped bathrooms with expensive plumbing. The floors are heated.

The kitchen is also offered with furniture and high-quality built-in appliances from reputable manufacturers. At the same time, kitchens have two configurations – a separate “Turkish”, where the kitchen is separated from the living room, as well as “American”, where the kitchen and living room are combined into one huge room.

As you can see, this “city within a city” is able to satisfy even the most demanding client. At the same time, housing is premium, but diverse – for different financial capabilities.

Inference

Multifunctional complexes in Turkey have reached a new level of scale and quality, and among the leaders is the future mega-project in Istanbul, where you can buy housing right now – of course, if you contact Expert Property. We can tell you about the features of the complex, as well as about installments or mortgages. Such multi-complexes of increased comfort are the future that has already come in Turkey.

Yours Tatiana Güneş