SHOPPING CENTRE PRE-DEVELOPMENT CONSULTANCY

Abstract

No phase of the entire development process is more important than the pre-development phase. The success or failure of a project depends to a large extent on the amount of forward planning and analyses that are put in during the initial stage of the project. Real estate development often involves large capital outlay and no investor or developer should risk going ahead with a project which has not been carefully studied in respect of its profitability and its market potential. Shopping centres have sprung up all over Singapore in the last decade; but many of them lack proper analysis and specialist consultancy in the planning stage. Financial feasibility analyses, market studies, site acquisition, design considerations and marketing requirements are all important aspects of shopping centre development which require advice and treatment from property consultants. As competition becomes stiffer year by year, all developers must ensure the viability of their projects and their development according to market demand before committing their resources. Estate Managers should be brought into the planning stage of shopping centre development as part of the development team so that their expertise can be combined with those of other consultants to reach decisions for the most optimum scheme and to ensure that the developer's interest and objectives are met.