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building. Example of such older office buildings are those office building located on the fringe of Central Business District, like Jalan Ampang. These older office buildings have a higher tendency to be left vacant due to its poor office building images. This will leads to lower rental rate to be paid by the tenants to remain its competitiveness. Other important characteristic of such office building also includes by low occupancy rate, lower quality of the building and services provided.

Besides, recent office developments are very likely to adopt green features such as energy saving, reduction of wastage and water usage, as well as the use of environmentally friendly materials. This new trend in development had forced many owners evaluate the condition of their building and try to make several changes to the buildings to attracts more tenants. These efforts are important to attract corporations who fascinate energy-saving and environmental-friendly building.

But making such decision is not easy. The owners have to evaluate the cost and benefit of each choice, and determine the solution he desires to improve the condition of his buildings. But other factors also have to take into consideration. For example, the rate of interest the bank would charge for development of different risk, the time of completion and others also greatly affect the decision-making of owner

Objectives of study

This study has three main objectives. There are:

To determine factors influencing the decision-making in deriving a solution to the method chosen.
To identify the benefits of building refurbishment or redevelopment to the building users.

To determine whether tenant likes refurbished secondary office building or newly redeveloped building.

Scope of study

The scope of this study will focus on selected office buildings, both building which had undergo refurbishment and those which had undergone redevelopment. To ensure a more complete study, the newly constructed building is also considered as building undergone redevelopment.

The respondents of the questionnaire are limited to tenants in Golden Triangle area only. As for the property manager, all property managers can be chosen as the interviewee. Building manager who are hired by owners and acted on behalf of them, will gives their opinions in owner perspectives (maximise profit) and current tenants will voice out their preferences in choosing a building space.

methodology

All the relevant data are collected through primary data and secondary data.

Primary data includes questionnaire, samplings, interviews and case study. In this study, respondents identified in questionnaire study are selected property manager who represents building owner's point of view and some tenants within Golden Triangle area through sampling. As for interview session, interviewees targeted are property manager who are the representatives of building owners. Through this interview sessions, benefit of building refurbishment and redevelopment will be ascertained. Finally, case study of three similar office buildings will also be done as the quantitative analy