Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/222079
Title: CLUSTERING OF STRATA TITLED MALLS: HELPING HAND OR GRABBING HAND
Authors: TEO IRENE
Keywords: Real Estate
RE
Liao Wen Chi
2016/2017 RE
Clustering
REIT
Retail
Strata-titled Mall
Issue Date: 22-May-2017
Citation: TEO IRENE (2017-05-22). CLUSTERING OF STRATA TITLED MALLS: HELPING HAND OR GRABBING HAND. ScholarBank@NUS Repository.
Abstract: Accompanied by the growth in economy, planning authority of Singapore extended its map of planned shopping centres into the higher-income residential areas from 1970s, hence cementing a well-developed web of retail facilities. The common modus operandi of shopping centres back then was to build and sell individual units in order to recycle capital. Motivated by the economic growth and entrepreneurial spirit, many strata titled malls were built to cater to the needs and hence we see strata titled shopping malls colocating next to one another, forming a cluster. Recent theoretical research on shopping centre has shown that the dynamics of clustered shopping malls is far more complex compared to stand-alone shopping malls. The advantageous clustering effect of retail facilities among shopping malls is akin to the agglomeration effect of retail stores within the same enclosed mall. This is referred to as the retail externality, and is instrumental in bringing economic growth to the retail cluster. Moreover, the rising of Real Estate Investment Trust (REIT) owned malls, the antithesis of strata titled malls, serves an interesting vantage point for scholars to look at the resilience of clustering effect. Cluster of malls need not purely be competition. Empirical results have shown that clustering brings about positive agglomeration benefits through economies of scale. Similarly, dynamics between REIT malls and cluster of strata titled malls need not have to be a zero sum game. Instead, they could create synergy amongst one another and leverage on each other’s strength to foster sustainable retail facilities and consumption.
URI: https://scholarbank.nus.edu.sg/handle/10635/222079
Appears in Collections:Bachelor's Theses

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