The purpose of this paper is to identify and analyse the crucial variables of pedestrian flow value of the shopping centres in Hong Kong.
The study identifies the key determinants of pedestrian flow value (PFV) which is measured by net rental income per floor area per pedestrian flow. Based on the rental and pedestrian flow survey data of 146 shopping centres along the subway (Mass Transit Railway) stations in Hong Kong, the authors have estimated the marginal effects of these determinants on the PFV. The research explains different variations' impacts of pedestrian flow on the rental value of the shopping centres in Hong Kong.
It is found that shopping centres owned by the same owners tend to achieve a lower PFV, which suggests that owners of multiple shopping malls may adopt a uniform pedestrian flow management strategy that may not be ideal for each individual mall.
This study focuses on the shopping centres that are located along the railway stations. Researchers are encouraged to test the shopping centres that are less affected by the railway stations.
It is useful for shopping centre owners and operators to determine the optimal strategy for managing pedestrian flow in their shopping centres.
The relationship between pedestrian flow and the shopping centre value is coined in the research as pedestrian flow value (PFV) which is to calculate the pedestrian flow effectiveness measured by net rental income per floor area per pedestrian flow.
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