Sustaining the vitality of shopping centers : the role of property managers
Shopping is a primary human activity in which almost every individual in civilized society participates daily and become part of their lives. Come along with the economic growth and increase of living standard, the development of shopping center is a natural outcome in urban living.
The fast development of shopping centers is a remarkable achievement in Hong Kong. The shopping center development in both from the public authorities and private sector investment is fast especially after the 80s as a result ofthe economic and population growth. Among the new and old shopping centers in Hong Kong, a lot of shopping centers are successful while some of them are failed in term of :Fental income, occupancy rates and numbers of shopper flow.
The success of shopping centers depends on a lot of external and internal factors, to find out the reasons for that, four case studies: "Dragon Center", "Fitfort", "China Hong Kong City", and "Toyo Mall" will be used to analysis what factors influence their respective outcomes and subsequently examine the factors and elements which make for the successful shopping centers in term of rental income, tenant occupancy rate and number of shopper flow.
In this study, we can discover that among all the factors influencing the success of the shopping center, location is the important factor, but not all. Customer is the main determinant for the business of the shopping center; however, the customers cannot stay for long in the centers without an effective management services. It means that
the sustaining vitality of the shopping centers is depended on the professional services and effective function of the property managers.
Several suggestions were given for further research, such as demographic profile affecting the success of the shopping centers and the role of the marketing and promotion function play in ensuring the vitality of the shopping centers are valuable to study.
School:The University of Hong Kong
School Location:China - Hong Kong SAR
Source Type:Master's Thesis
Keywords:shopping centers china hong kong management real estate
Date of Publication:01/01/2004