PERFORMANCE OF A SHOPPING CENTRE CARPARK

Abstract

Carpark are viewed as an ancillary and non-profitable service to the main functions of the building. In Singapore, it is a statutory requirement for private developer to provide car parking spaces in their development. Hence, it is an obligation by legislation to the developer to provide parking lots. With the increasing of income and education levels, shoppers have more disposable income, higher purchasing and able to afford of owning a car, shoppers will be extremely mobile to travel to any shopping centre of their choice as it helps to bring the convenience element. Hence, carpark plays an important role in a shopping centre. This study aims to examine the performance of a suburban shopping center carpark in terms of its financial and profitability. Through evaluating the parking traffic and parking collection, the carpark owner or the management will realize the benefits derived from the carpark. The findings concluded that the performance of a shopping centre carpark generally depends on various factors and tenants mix is the most significant.