ASPECTS OF MARKETING COMMERCIAL REAL ESTATE

Abstract

This dissertation attempts to highlight the benefits that can be attained in the long term if the marketing concept is adopted for the leasing of commercial accommodation. The concept emphasizes the importance of forward planning - in matching tenant's future requirements and in forecasting demand and supply of office accommodation so that the marketing strategy can be tailored to suit the environment. Also, leasing would then be carried out based on a marketing plan which sets the framework for the marketing campaign and the amount of time and money to be spent in the marketing effort. To give an insight into local leasing practice, a marketing case study of the Octagon is included. The history of how marketing personnel were involved from the initial stage of building development to completion and leasing is traced together with the marketing strategy applied to match tenant needs and wants with the facilities provided by the building.