Page 1 Development Planning - Take the Right Steps 开发策划 依循.pdfVIP

Development Planning - Take the Right Steps – 2. ASSEMBLING THE RIGHT TEAM In the last article, I mentioned on the importance of good planning and also positioning the mall correctly, with the right mix of tenants that BEFITS your catchment. In this article, I am going to address how to do that RIGHT by Assembling the RIGHT TEAM: : A. What does it take to develop and operate a mall successfully? Reviewing the developer’s development objectives B. What type of expertise is needed? C. Where can I find such expertise and how do I evaluate the right team of consultants and designers? A. What does it take to develop and operate a mall successfully? First of all, a developer should think carefully about his Business model and Business objectives. Retail assets give a good recurrent income versus the one-time sales income of residential developments. Most company that has plan to list the company in the stock exchange will have an objective to balance the portfolio of residential sales income with assets of good and stable retail recurrent income base. Next, a developer should look at its development objectives: : - If mall development is a mid to long term development plan, what kind of business model should one adopt?. 6 Battery Road, Level 31, Singapore 049909. Tel : 65-6344 1511 Fax : 65-6344 6529 www. .sg - Does the developer have the expertise and resources in finance and human resources, expertise in mall development? Because commercial retail development is fairly new in China most developers are fairly new or at most have just started such projects.