Market / Location / Product Feasibility
Feasibility Study for Retail in Industrial Hub for Upcoming Township
Location Analysis and Concept Development for Commercial Properties in Maldives
About the Client
A real estate development company engaged in development of properties in residential, commercial and retail sectors, wanted to undertake a location analysis & concept development for its 3 commercial locations in Maldives.
Core objective was to conduct location analysis and concept development for mentioned commercial properties in Maldives, answering the following key strategic questions:
- What should be the concept for all locations in terms of positioning, target consumer, and offerings?
- What should be the retail mix for different locations?
- What should be the appropriate revenue model – pure rental / pure revenue share / or mix of both? What are the expected rentals?
- Provided detailed analysis of all the 4 locations on following parameters:
- Site profile: Distance & time mapping from key landmarks, Profile of adjoining establishments, Upcoming developments in the vicinity, Approachability & accessibility from city center, key landmarks & neighboring towns/cities
- Consumer profile: Demographic profile including age, income, education & occupation, preferred destination for shopping, food & entertainment, Shopping behavior & brand preferences, etc.
- Retailer profile: Penetration of retail, food and entertainment options in the country, Presence of national / international retailers, No. of outlets, Business performance & Expansion plans, etc.
- Conceptual framework based on insights and learnings from location analysis:
- Overall positioning and target audience for the proposed retail market
- Retail mix and anchor strategy
- Zoning plan, expected rentals, and operating model