2.4.3 REAL ESTATE MARKET
The main objective of this section is to understand whether or not the Syrian enterprises have directly contributed to the development of the area or have they been able to capitalize on an untapped resource . To assess the true impact over time the methodology of this study serves to establish baseline trend data by utilizing rent pricing for the surrounding context and within the site itself . This is coupled with a contextual urban analysis identifying the key spatial features that may provide a different layer of insight . An analysis of the baseline data is measured against the primary data collected to identify whether there is a significant change in rent pricing within the site . A change over a certain threshold may signify inflationary or speculator pressure which would identify a degree of value generation in the area . The second layer will analyze the source of this potential value change . Incentives for various activities in the area may serve to identify the catalyst . This requires an analysis on the level of urban competitiveness ( 1 ) by considering local endowments and contextual factors that may be significant contributing factors to the site .
Contextual Analysis
As previously described , the AAA holds a distinctive contextual position within its surrounding context . As a mixed-use retail centre , AAA is near al-Saraya Shopping Complex to the western side . Dolphin Mall and Carrefour Mall are approximately 1km away , but lie on the 26th July Corridor and are only accessed by road exiting the al-Hossary area . ( Figure 55 )
Figure 55 : Nearby commercial nodes in AAA
1- The World Bank ,. Urban Competitiveness Assessment In Developing Country Urban Regions . Washington D . C : The World Bank , 2000 . Print . Towards A Methodology For Conducting City Development Strategies .
95 | Understanding the development context