商业地产项目开发模式选择研究

发布时间：2018-04-16 14:22

本文选题：商业地产 + 投资　；参考：《北京交通大学》2017年硕士论文

【摘要】：近年来,商业地产的增值倾向明显,有利于商业发展的配套设施在日益完善与丰富,特别是餐饮、酒店与城市交通等产业快速发展,不同产业间形成了相互依存、相互促进的格局,商业地产投资整体价值引起了广泛关注。开发商在利益导向下,开始调整发展策略,在商业地产领域增加投资与开发量,市场租金与售价也有所提升。商业地产在发展中表现出回笼资金稳定性高、投资回报率好等特征,这也让其成为了投资者重点投资对象,市场资金逐渐进入到该领域。然而从开发商角度来观察,其最初主营业务为住宅地产,而这种业务的转型也凸显出一个问题,即商业地产开发模式相对落后。基于实地调研与文献分析,对商业地产现状问题给予了充分关注与介绍,并结合国内实际对其典型的三种开发模式进行阐述,即产权出售、只租不售、租售结合模式,并针对不同模式优劣作具体对比。通过商业地产项目开发模式的关键要素分析,以紫金一品项目作为研究对象,利用层次分析法,选取资金实力、现金流、市场需求、净现值、投资回收期等指标,分别关注了不同开发模式的效益表现,并针对该项目存在的风险问题作具体探析,给出不同开发模式选用的具体优缺点。最后以项目稳定获利性作为主要开发原则,通过该方法的应用来对比方案整体优势,确保所选方案即为最优方案。
[Abstract]:In recent years, the value-added tendency of commercial real estate is obvious, and the supporting facilities conducive to commercial development are becoming increasingly perfect and rich, especially the fast development of catering, hotel and urban transportation industries, and the interdependence between different industries.The pattern of mutual promotion, commercial real estate investment overall value has aroused widespread concern.Under the guidance of profit, developers began to adjust their development strategies, increase investment and development volume in commercial real estate, and increase market rents and prices.Commercial real estate has the characteristics of high stability and good return on investment in the development, which makes it become the key investment object of investors, and the market capital gradually enters into this field.However, from the perspective of developers, its primary business is residential real estate, and the transformation of this kind of business also highlights a problem that commercial real estate development model is relatively backward.Based on field investigation and literature analysis, this paper gives full attention and introduction to the current situation of commercial real estate, and expounds its typical three development modes, namely, property right sale, only rent and not sale, rental and sale combined mode.And according to the advantages and disadvantages of different models to make a specific comparison.Through the analysis of the key elements of the commercial real estate project development model, taking Zijin Yiyi project as the research object, using the Analytic hierarchy process (AHP), selecting the indexes of capital strength, cash flow, market demand, net present value, investment payback period, etc.This paper pays attention to the benefit performance of different development models, analyzes the risk problems of the project, and gives the specific advantages and disadvantages of the different development models.Finally, the stable profitability of the project is taken as the main development principle, and through the application of this method, the overall advantages of the scheme are compared to ensure that the selected scheme is the optimal scheme.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F299.23

【参考文献】