FENG SHUI AND ITS SINGNIFICANCE ON ICON AT BUGIS POINT

Abstract

Feng shui has a long history spanning more than 7000 years and is perceived by many as part of Chinese culture and tradition. It encompasses both art and science aspects. Nevertheless, most Chinese do not have a sound knowledge and understanding of it. Apparently, its application seemed hard to grasp by many. However, feng shui has seen a modem revival and increasingly, more businesses and developments (including western ones) are turning to feng shui to improve their luck and fortune. In view of this, this study has, using a quantitative approach, attempted to (i) determine the level of awareness of feng shui among tenants and shoppers, (ii) determine iffeng shui affects retailers' choice of location and unit in the retail mall and (iii) evaluate the feng shui of the new shopping mall, ICON@Bugis. The research attempted to find out if there is an increasing significance in the application of feng shui in retail mall and unit. The study is conducted in the new retail mall, ICON@Bugis Point. Quantitative analysis of mean ratings and statistical tools like Chisquare and T-tests were employed. Research findings have showed that presently, the general awareness of feng shui amongst tenants and shoppers is low. Tenants viewed "accessibility of mall to shoppers" and "good overall image and reputation of mall" as the main reasons for their present location. Shoppers were also not satisfied with the mall attributes. To conclude, this study also provides directions for future research and ways in which feng shui effects can be quantified and the implications on developers and practitioners.