TENANT SATISFACTION - A CASE STUDY ON THE SINGAPORE SCIENCE PARK

Abstract

The key challenge for most real estate organizations is not whether they should build better relationships with their tenants, but how they can build lasting relationships in a time with limited resources to do so. Tenant retention is the key to office building value, maintenance, and ultimate value enhancement in today's society. This dissertation attempts to provide an insight of the economics affecting the tenants' needs and requirement; and more importantly, their satisfaction level. Various attributes are explored and explained while the importance of each is illustrated and spelt out to provide references for studies and research. The study also undertakes to evaluate the contribution of the management in the Singapore Science Parks I and II and what tenants deemed are the important factors determining their location and relocation decisions. The evaluation will be analyzed from the surveys responses received from the tenants. It becomes evident from the research and the case study on the Singapore Science Park that pricing or rental rates is the prime source of concern. Other important attributes arising from the studies are: property management, building amenities, and location.