Recreational business district and residential properties development : a case study of COCO Park in Shenzhen

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Recreational business district and residential properties development : a case study of COCO Park in Shenzhen

 

Author: Yao, Zongling
Title: Recreational business district and residential properties development : a case study of COCO Park in Shenzhen
Degree: M.Sc.
Year: 2016
Subject: City planning -- China -- Shenzhen (Guangdong Sheng : East)
Public spaces -- China -- Shenzhen (Guangdong Sheng : East)
Housing -- Prices -- China -- Shenzhen (Guangdong Sheng : East)
Real property -- China -- Shenzhen (Guangdong Sheng : East)
Hong Kong Polytechnic University -- Dissertations
Department: Faculty of Construction and Environment
Pages: vii, 108 pages : color illustrations
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b2917115
URI: http://theses.lib.polyu.edu.hk/handle/200/8661
Abstract: Recreation was firstly defined as a significant function of urban cities in addition to dwelling, work, and transport in the early 1990s. Some main factors account for an increased role of recreation including great working pressure, the income growth, and increased commercialization of recreational offerings. Where there is a need, there is a business. In recent years, the world has been experiencing a boom in the recreation industry. More than 15 years ago, developers in Mainland China had started trying to develop some especially profitable projects and put some icon landmarks in the city centre. Recreational business district (hereinafter referred to as RBD) which rightly defines the multifunctional land use of the urban area is typically different from those national parks or conservation parks. It more likes a complex equipped with a series of facilities, accommodations, office buildings and shopping area for citizens and tourists to live, to play, to take part in activities, and to satisfy their spiritual pursuit.
This dissertation estimates the general benefits of a typical recreational business district - COCO Park in Shenzhen and compares it with a representative of another type of RBD - Overseas Chinese Town so as to distinguish the different influences brought from two patterns on the public and city economy. In the first part of this dissertation, semi-log Hedonic pricing patternl is applied to estimate the effect of COCO Park on surrounding residential properties with data collected from housing transaction records since 2014 to 2016. The results suggest that COCO Park has a significant positive distance-decaying effect on surrounding house values and the whole local economy. Next, with the assistance of a previous work about economic impact of Overseas Chinese Town in Shenzhen, a comparison between the two objects is conducted to examine different impacts caused by different development patterns of RBD. According to the study results, COCO Park shows a comparatively more significant role in affecting the nearby housing price than Overseas Chinese Town. Last, a questionnaire and several interviews were conducted to identify the advantages and disadvantages of COCO Park as well as if it could be viewed as a public space. Based on the analysis of responses gathered, COCO Park can, to some extent, take the responsibilities for bringing social benefits. The collected results of the two case study approaches are analyzed to gain a better understanding of how people think of COCO Park and to what extent it could be considered as a real public space. The results show that COCO Park has become an important leisure place for residents, but it is still not completely qualified as a public space. What is more, there is still a lot of room for some improvements such as data resources, data volume, and adjustment about research object.

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