Urban complex value study based on management practice of China Central Place

• Main Author: FANG, Chao
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2019
• Subjects: Urban Complex; Value; Sustainable Development Capacity; China; Asian Studies; Sales and Merchandising; Urban Studies and Planning
• Online Access: https://ink.library.smu.edu.sg/etd_coll/271; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1271&context=etd_coll
• Institution: Singapore Management University

In recent years in China, with the rapid development of China’s economy, the acceleration of urbanization, the extension of city size and the rapid growth of urban population, living conditions, traffic and environment in the cities are getting worse and worse. Under this background, urban complex integrating a series of functions like “living, business, office, tourism, culture and entertainment etc” has become popular with the urban administrators and developers in many cities. According to relevant statistics, by the end of 2015, there had been more than 2000 urban complexes (including the ones which have been completed, the ones which are being constructed and the ones which are to be completed) in 50 major cities. Normally, each complex has the common features like super-big size, locating at the downtown, superior traffic resources and large amounts of investment. Generally, no matter how the urban complex develops, it will greatly affect the market, urban development and social development. In the meantime, urbanization in China greatly benefits the rapid development of real estate industry. In less than 30 years, there have been many enterprise giants with an annual sales volume of more than 100 billion. However, it is difficult for these enterprises to go further if they still follow the traditional mode - progressive development. Especially for those giants who majorly depend on land banking, they are being trapped by the business development modes. Under this background, they are keeping a close eye on the great profits provided by superior urban complex. In some cities in Mainland China, urban complex is facing severe problems - the development speed and quality. That is risks are being raised. Of course, superior urban complexes can play a role as an engine to drive the urban development but there are still urban complexes which fail their functions. Therefore, it is quite necessary for us to re-tease the value or urban complex and figure out the key factors affecting urban value, try to get urban complex developed rationally. This is really useful and meaningful for both the developers and urban administrators. In this paper, the management and practice of China Central Place - one of the largest urban complexes, which is responsible for its own planning, development, construction, management and operation, is used as an example, as well as some other urban complexes in China, this paper teases the true value of urban complexes by using principles related to urban planning, architectural design, management, economics and sociology. Also, this paper teases the key factors determining the urban complex value, by which logic and mechanism used by urban complex are figured out. What is studied in this paper helps to widen new eyesight for the academicians, real estate developers and urban administrators, and then they can better know about and master the development laws of urban complex. Accordingly, urban complex in China can be developed in a healthy and high quality way.