广东国际光电采购中心项目投资效益研究

发布时间：2018-09-15 07:06

【摘要】：近年来，政府相继推出了“国八条”、“国六条”、“国十条”等房地产调控政策，旨在防止房地产投资过热、平抑房价、调整住房供应结构。这一系列的房产调控政策主要是通过抑制购买需求加上银行信贷的紧缩达到调控的目的，调控力度不断加大使房地产住宅地产的开发变得门槛变高，难度加大。在这样的背景下，商业地产的开发成为房地产行业投资的新宠。商业地产项目，尤其是大型商业地产项目具有投资规模大、回报周期长的特点，盲目开发会给开发商和后期经营者带来极大的风险。项目的投资效益是房地产开发公司选择项目的一个重要参考依据，通过对商业地产项目进行投资效益分析对预估项目投资收益，，降低项目开发实施过程中的风险，保障项目的顺利进行并取得利润最大化方面起着重要的作用。广东国际光电采购中心项目作为一个商业地产项目，有空港经济发展规划的支持和无法比拟的区位优势，但该项目投资金额大、建设周期长、不确定性因素多，因此在投资前进行投资效益分析是必要的。专业市场的开发运营除了地产因素，还有产业因素。本项目作为光电采购中心，除了对项目的地产属性进行研究外，还要进行光电产业研究，努力使光电产业的引入对项目成功运作形成有利保障。依据收益最大化理论、资金时间价值理论、风险管理理论、成本核算理论、项目生命周期理论，本文就广东国际光电采购中心项目的投资效益进行深入研究分析。本文首先介绍了投资效益研究的相关理论及项目投资效益研究的概念、作用和主要内容，同时对本文涉及的几个理论基础作了介绍。其次，本文从市场环境和定位方面对本项目的投资效益提供现实依据。市场环境主要从经济环境、地理环境、政策环境以及市场竞争环境方面加以展开，然后从业态、形象、功能、目标客户方面论述本项目的市场定位。然后，财务分析部分主要分析了项目销售、融资以及盈利情况，并从动态和静态两个方面探讨本项目的潜在效益以及项目中存在的不确定性，为项目的投资效益提供数据支撑，并提出优化方案。最后本文就项目开发中存在的包括政治风险、市场风险、管理风险等风险类别进行风险分类，通过风险预估提出潜在风险，并根据风险管理理论结合房地产项目开发的实际情况，深入分析，给出一些相应的应对措施。本文的研究成果有助于帮助企业明确市场策略，找准目标客户群体，了解项目的投资及收益情况，并且可以增强开发公司的风险防范意识，提高项目的安全保障力度，从而保障项目的顺利实施。根据现在的项目方案进行一系列财务测算，寻找投资效益最大化的改进方案。同时本研究也对本公司的其它商业地产项目的投资效益研究有一定的借鉴意义。
[Abstract]:In recent years, the government has introduced such real estate regulation and control policies as "eight articles of the country", "six articles of the State" and "the Ten articles of the Nation" in order to prevent overheating of real estate investment, to stabilize housing prices and to adjust the structure of housing supply. This series of real estate regulation and control policies are mainly through the suppression of purchase demand and the tightening of bank credit to achieve the purpose of regulation and control efforts to constantly increase the ambassador real estate development has become more difficult. Under such background, the development of commercial real estate becomes the new pet of real estate industry investment. Commercial real estate projects, especially large commercial real estate projects, have the characteristics of large investment scale and long return period. Blind development will bring great risks to developers and late operators. The investment benefit of the project is an important reference basis for the real estate development company to select the project. Through the analysis of the investment benefit of the commercial real estate project, the investment income of the project is estimated, and the risk in the process of project development and implementation is reduced. To ensure the smooth progress of the project and maximize profits play an important role. As a commercial real estate project, the project of Guangdong International photoelectric Purchasing Center has the support of the economic development plan of the airport and the unparalleled advantages of location. However, the project has a large amount of investment, a long construction period and many uncertain factors. Therefore, it is necessary to carry out investment benefit analysis before investment. Professional market development and operation in addition to real estate factors, there are industrial factors. As a photoelectric purchasing center, this project not only studies the property of the project, but also studies the photoelectric industry, and makes great efforts to ensure the successful operation of the project with the introduction of the photoelectric industry. Based on the profit maximization theory, capital time value theory, risk management theory, cost accounting theory and project life cycle theory, this paper makes an in-depth study and analysis on the investment benefit of Guangdong International photoelectric Purchasing Center. This paper first introduces the related theory of investment benefit research and the concept, function and main content of project investment benefit research, at the same time introduces several theoretical bases involved in this paper. Secondly, this paper provides a realistic basis for the investment benefit of the project from the market environment and positioning. The market environment is mainly carried out from the aspects of economic environment, geographical environment, policy environment and market competition environment, and then the market orientation of the project is discussed from the aspects of business form, image, function and target customers. Then, the financial analysis part mainly analyzes the project sales, financing and profit situation, and discusses the potential benefits of the project and the uncertainty in the project from the dynamic and static aspects, which provides the data support for the investment benefit of the project. The optimization scheme is put forward. Finally, this paper classifies the risk categories including political risk, market risk, management risk, and puts forward the potential risk through risk estimation. According to the theory of risk management and the actual situation of real estate project development, this paper gives some corresponding countermeasures. The research results of this paper are helpful for enterprises to make market strategy clear, to find out the target customer group, to understand the investment and income of the project, to enhance the risk prevention consciousness of the development company, and to enhance the safety and security of the project. In order to ensure the smooth implementation of the project. According to the current project program, a series of financial calculations are carried out to find the improvement scheme to maximize the investment benefit. At the same time, this research also has certain reference significance to the investment benefit research of other commercial real estate projects of our company.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F299.233.44

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