Towards defining shopping centres and their management systems

Abstract

Today, the subject of shopping centres is more complex than ever. In many ways, their complexities are in terms of size, type and characteristics. Consequently, the formats of shopping centre have often been confused with their identities. This is due to the fact that the industry has grown and evolved so much that the existing classifications are no longer adequate. In today's world, the roles of shopping centres can be seen from different perspectives, that is, as a place of business, as a property and as an investment. Shopping centre managers need to understand these perspectives before developing their own objectives and policies in managing their shopping centres. Having an excellent management team is no longer enough if the management systems are not effective. This will raise further issues in the areas of managing properties and facilities or in managing tenant mix within the shopping centres. Shopping centre managers should, however, take these issues as a challenge in order to improve the existing systems. This paper attempts to provide an overview of shopping centres and their management systems to gain a general understanding of the background of shopping centres.