|Title:||Prioritizing improvement of shopping centres in Hongkong public housing estates : methodology and application|
|Subject:||Shopping centers -- China -- Hong Kong|
Public housing -- China -- Hong Kong
Planned communities -- China -- Hong Kong
Hong Kong Polytechnic University -- Dissertations
Department of Building and Real Estate
|Pages:||vii, 72,  leaves : ill., 1 map ; 30 cm|
|Abstract:||This paper finds empirically that functional obsolescence is a much more important factor than physical deterioration in the renovation of the shopping centres in Public Housing Estates in Hong Kong. The result obtained is very similar to the findings of Aikivuori in Oulu, Finland, in 1995. Thus, this paper considers that improvements instead of maintenance is the major demand for renovation of shopping centres in Hong Kong. Aiming at the re-investment consideration regarding selecting shopping centres for renovation, the Boston Consulting Group's (BCG) Portfolio Model is suggested in this paper for prioritizing shopping centres for major improvements. While the US experience in shopping centre management is considered very useful for Hong Kong, there is not enough business data and sales figures available for the direct application of the US models and analysis. Suggestion is made in the paper to modify some of the useful analysis ratios, like the Sales Efficiency Ratio which is very effective in rearrangement of the trade-mix in connection with the shopping centre renovation. This paper also suggests that effort should be made to improve the openness and partnership spirit between the landlords and the tenants in the Hong Kong shopping centre industry in order to improve the efficiency of the industry. Given no concrete business data available for straight application of BCG's Model, a modified knowledge-based approach called the Weighted Attribute Ranking Method and Growth-share Matrix (WARM-GSM) is suggested for prioritizing shopping centres for major improvements. The result of the empirical assessments of four selected shopping centres in Hongkong public housing estates in this paper shows that there is a conceivable positive correlationship between the findings by the WARM-GSM and return of the shopping centres selected for improvements. While this paper concludes the applicability of the WARM-GSM for prioritizing shopping centres for major improvements, it also sees the need of improvement in the composition of attributes and their weighted factors in the model. These attributes and weighted factors remain the subjects for enrichment and refinement by future empirical research.|
|Rights:||All rights reserved|
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