Identification Factors Affecting Profitability Of Trade-Mall Project Development

Henry Kusnadi

Identification Factors Affecting Profitability Of Trade-Mall Project Development

Henry Kusnadi

Abstract

Since 2000, Trade Center and Trade Mall projects have become a phenomenon in Indonesia. This happened due to the strata title shop ownership by merchants that developeris able to receive advance payment and not longer depend their development cost on a bank loan. Trade Mall seems to have more benefits by maintaining the revenue from renting spaces to anchor tenants or big tenants instead of selling all of the spaces to small shops like in Trade Center. 47 Trade Malls built between 2000 and 2009 throughout cities in Indonesia are used in the current case study. Correlation analysis, factor analysis, and multiple regression analysis were used. The result indicatesthat profitability is affected by two main factors including selling price per square meter and rate of selling a unit. However, these two factors also depend on some variables i. e location and accessibility, building gross area, a percentage of an anchor tenant, year of sale, developer's track record, facility, and development concept. From multiple regression analysis, there are also three models indicating relation on variables.

Keywords

Trade Mall; Profitability; Indonesia

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