Most often, during the development of a concept, investors overlook key aspects of modern market conditions.
It is critically important not only to have a clear understanding for whom and why the property is being built, but also to have a detailed vision of prospective development plans.
Another common mistake is overestimating the importance of the size of the area. A larger area does not always lead to higher profits, as additional square meters incur additional costs, creating a common optimization problem. Furthermore, the concept should be multifunctional. For example, what is the reason of building a 5th floor if there is zero foot traffic?
Also, when designing shopping and entertainment centers, incorrect traffic flow circulation and incorrect placement of anchors are often encountered.
The main value of this stage is the ability to develop at a very early phase an optimal solution with minimum costs. During the process of developing a conceptual project, the concept can change multiple times.
For example, the initial concept of the project assumed 22,000 square meters. However, taking into account the client's financial constraints, we developed an optimized version of the project of 15,000 square meters, while working on the design and functionality in more detail. We carried out additional research on site and as a result a new concept was developed that took into account the updated initial data.