Impact Of Commercial Developments On Cities
Commercial developments refer to buildings erected solely for business purposes. Over time, the growth of cities has led to economic expansion. An increase in human population has also led to expansion of already established cities. People have normally been attracted to city environments since they are places of better opportunity. Majority of the people who migrate to cities believe that they will be able to improve on their standard of living. With an influx in population, the number of facilities available become overwhelmed. Presently, there are a number of commercial developments ranging from hospitals to hotels.
In the world today, commercial developments in cities act as places where business is conducted. With many industries in existence today, these are environments where people go to make money. It is due to commercial buildings in cities that everyone irrespective of his background is offered s level playing field to make an economic impact over his life.
Since commercial buildings attract people to trade, they foster social interactions amongst people with diverse backgrounds. As a result of these cultural interactions, social cohesion is fostered.
In addition, commercial developments play a vital role in the growth and expansion of already existing cities. Since they offer people with jobs and formal employment, people migrate from the countryside and come to live in these cities. The influx in human labor ensures that business and industries alike never run short of employees. As industries yield more output per given day, they are able to maximize on their profits and this is what makes cities expand. As more people start getting sufficient money, they start their own businesses and this is what makes a city expand.
By creating modern commercial developments, the general landscape of a city changes. Usually, financially stable individuals choose to set up commercial buildings in cities. A majority of these buildings are constructed putting the latest architectural designs in mind. In the long run, the city landscape is transformed. Hence, commercial developments aid old cities keep up with new trends.
Land is generally a scarce commodity all over the world. Increased demand and limited supply causes land prices to escalate. Land prices in cities are normally monumental since they supply of land cannot be able to meet its demand. This is due to the fact that cities are products of highly commercialized spaces. Therefore, commercial zones that have been heavily built generally increase the economic value of a city due to the fact that they have better facilities and amenities.
Hence, cities cannot grow or expand without the presence of commercial developments. It is therefore wise governments and private institutions to advocate for the construction of more commercial developments so that they can be able to boost the economy of their cites and country at large.