The Impact of Urban Riverfront Development on Industrial Property Market Value: A Gis Application

Abstract

The impact of Urban Riverfront Development (URD) affords an increasing of value for adjacent industrial properties within riverfront area. However, the impacts in terms of percentage of increment value, radius of impact coverage, distribution of industrial properties that effected by URD are difficult to be evaluated without using an appropriate tool. Hence, this study evaluates the impact of URD on industrial property market value aided by Geographic Information System (GIS). Therefore, Melaka River, Malaysia has been chosen as a case study to evaluate the impact of URD towards industrial property market value for adjacent properties within riverfront area. The result shows there is 14.13% of increment of market value for adjacent 1.5-storey factories located within 300-meter radius from URD. The result discovered that there is positive effect on increment market value for the industrial properties within URD area.