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Lease Price Differentiation and its Influence on the Attraction of Micro, Small and Medium Enterprises’ (MSMES) to Major Shopping Malls in Zambia

Author

Listed:
  • Jain Niraj

    (Department of Real Estate Studies, The Copperbelt University, Zambia)

  • Chileshe Roy A.

    (Department of Urban and Regional Planning, The Copperbelt University, Zambia)

  • Munshifwa Ephraim K.

    (Department of Real Estate Studies, The Copperbelt University, Zambia)

  • Mushinge Anthony

    (Department of Real Estate Studies, The Copperbelt University, Zambia)

  • Chisha Amos

    (Northmead Branch, Palmridge Properties, Zambia)

Abstract
Subject and purpose of work: Based on community-wide charges that shopping malls discriminate against small business tenants, this paper seeks: firstly to identify the principal determinants of shopping mall rentals, and secondly to understand if there exists a statistically significant dispersion in rentals against MSMEs. Materials and methods: Relative Importance Index and SPSS (statistical tests) were used to analyze the survey-based data which was acquired from eleven shopping malls in Lusaka. Results: The MSME tenants pay on average $20.32/m2 more t han anchor tenants and $19.12/m2 more than chain stores, ironically on account of capital limitations. MSMEs also face an additional risk during sudden economic shocks due to untenable lease provisions and poor negotiating influence. Conclusions: The study concludes by acknowledging that the MSME sector is covertly vitiated by the imposition of high rental premiums. It recommends that shopping malls should have an affirmative simpler letting policy. Furthermore, a shopping mall association should-be commissioned to exclusively safeguard the interests of MSMEs.

Suggested Citation

  • Jain Niraj & Chileshe Roy A. & Munshifwa Ephraim K. & Mushinge Anthony & Chisha Amos, 2021. "Lease Price Differentiation and its Influence on the Attraction of Micro, Small and Medium Enterprises’ (MSMES) to Major Shopping Malls in Zambia," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 14(3), pages 358-372, September.
    • Handle: RePEc:vrs:ecoreg:v:14:y:2021:i:3:p:358-372:n:4
    DOI: 10.2478/ers-2021-0025
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    More about this item

    Keywords

    micro; small and medium enterprises’ (MSMEs); lease price differentiation; shopping mall rentals; Zambia;
    All these keywords.

    JEL classification:

    • L4 - Industrial Organization - - Antitrust Issues and Policies
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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