Wellness communities: real estate for health-conscious buyers

Discerning investors are increasingly looking for more than just bricks and mortar

What makes a home? At its most basic, it is a safe shelter from the elements; from there, comfort, privacy, and tranquillity come into play. Increasingly, people are reconsidering what they need from the buildings they spend their lives in. Physical comfort has always been a priority for architects, but now the mental and emotional wellbeing that a home can offer is being considered, too.

This change in mindset has given rise to a new sector in real estate that focuses on wellness. The Global Wellness Institute, a leading research group in the area, defines “wellness real estate” as homes and buildings that are proactively designed and built to support the holistic health of their residents. That might be anything from biofiltration air-conditioning systems to using natural materials that are beneficial to our wellbeing. Today, real estate is the fastest-growing market in the wellness economy, doubling in size from 2019 to $438bn last year.

One of the newest sub-sectors is “wellness communities”, which sees entire developments being created with a wellbeing mindset. IMKAN Properties, an Abu Dhabi-based developer, has been at the forefront of this, partnering with the world leader in health and wellbeing, SHA, to offer an entirely new residential model for the region wholly centred on wellness.

Located in AlJurf between Abu Dhabi and Dubai, SHA Island Emirates is set to become a flagship destination for health-conscious buyers. Wellbeing “is at the core” of the design, ensuring that every resident experiences the highest standard of wellbeing and tranquillity, said IMKAN Properties’ CEO Suwaidan Al-Dhaheri. The private island integrates beachfront residences, a health and wellness resort, and a range of pavilions dedicated to physical and mental wellbeing. “It’s a private sanctuary,” he says, “accessible only to residents and guests, and offers a very limited selection of exclusive villas and apartments.”

Residents and guests will have access to SHA’s health programmes, including medical and wellness treatments tailored to optimize health and longevity through an integrative approach combining the latest advances in scientific medicine with proven natural therapies. The island will also house a hydrotherapy circuit, a spacious athletics club with outdoor and indoor training areas, and four movement studios.

The partnership with SHA is a pioneering development in the “branded residences” sector, whereby properties are developed in coordination with renowned brands, often with a focus on design and services. International luxury hospitality brands have led this movement, building apartments that offer hotel-like amenities. Branded residences are expanding, particularly in places like the UAE and Southeast Asia, but it’s the high level of integrated wellness that sets SHA Island Emirates apart.

So how does the concept of “community” come into play, especially for high-net-worth individuals who often value privacy? “The design encourages organic connections in communal spaces like wellness pavilions, and curated event spaces,” says Al-Dhaheri.

Residents can engage in island-wide community events and gatherings and health-focused culinary offerings, including organic farm-to-table cuisine curated by renowned chefs, and healthy cooking classes led by experts that teach guests how to craft nutritious meals. As well as a beach club, bike routes and organic gardens will be built on the island. There will be several places for people to gather, including a Marina Pavilion, which offers water sports and sea activities for adventure seekers, and a Wellness Kids Club, where younger ones can be introduced to a healthy lifestyle.

Developments with wellness as a priority are expected to grow worldwide – studies show that one in five buyers now considers wellness a top priority when choosing where to live. According to recent reports, properties designed with wellness in mind can command a premium of 10-25 per cent above market value. IMKAN believes buyers will see developments like the one it is building on the Persian Gulf as “not only a lifestyle choice but a sound financial investment”.

This article was originally published on Financial Times  Read the original article here