广州A“旧厂房”改造项目投融资决策分析

发布时间：2017-12-28 17:10

本文关键词：广州A“旧厂房”改造项目投融资决策分析　出处：《华南理工大学》2015年硕士论文　论文类型：学位论文

【摘要】：“三旧”改造是广东省特有的城市更新改造改造模式,分别指“旧城镇、旧厂房、旧村庄”改造,是国土资源部与广东省开展部省合作,推进节约集约用地试点示范省工作的重要措施。广州市是国内开展工业化较早的城市之一,许多历史上曾为城市发展做出了重大贡献的工业厂房,如今成为了制约新城市化发展的桎梏,占据了城市中心宝贵的土地资源,但利用效率十分低下。“三旧”改造政策的出台,为广州市旧厂房的“退二进三”、改造升级迎来良好的机遇。本文基于广州市“三旧”改造政策,研究白云区京溪路的旧厂房改造项目投融资决策问题。第一章阐述了目前广州市的“三旧”改造政策,旧厂房“公开出让,收益支持”或者“自行改造,补交地价”两种改造方式的异同点;第二章介绍了A项目旧厂房概况,以及改造投资计划,项目补交地价及建设投资的投资预算为11亿元;第三章根据项目的自行改造投资计划和周边市场调查情况,预计项目未来15年经营情况,并与项目土地“公开出让,收益支持”模式下的土地补偿收益进行对比。为实现经济效益最大化,G公司应选择自行改造方式。第四章分析了项目选择进行自行改造的前提下,为降低项目开发风险及解决项目开发资金需求,引进合作伙伴,探讨在合作方承担全部后续投资资金及合作方出资5亿元、后续投资缺口通过抵押项目土地申请银行贷款的情况下,合作双方在项目公司中的股比和投资回报关系,并以此作为G公司与合作方谈判的依据,实现收益最大化。
[Abstract]:The "three old" transformation is a unique mode of urban renewal and transformation in Guangdong Province, which refers to the transformation of old towns, old factories and old villages. It is an important measure for the Ministry of land and resources to cooperate with Guangdong Province in promoting the work of pilot and demonstration provinces for intensive and economical land use. Guangzhou is one of the early industrialized cities in China. Many industrial buildings that have made great contributions to urban development have become the shackles that restrict the development of new urbanization, occupy the valuable land resources of urban centers, but the utilization efficiency is very low. The three old reform policies, Guangzhou city of old factory "retreat into three, upgrade usher in a good opportunity. Based on the "three old" reform policy in Guangzhou, this paper studies the investment and financing decision of the old building renovation project of Jingxi road in Baiyun District. The first chapter elaborates the present Guangzhou city "three old reform policies, the old factory" public sale, income support "or" self transformation, pay the premium "two kinds of transformation of the similarities and differences; the second chapter introduces the general situation of A project and the transformation of the old plant, the project investment plan, pay the premium and construction investment investment budget for 1 billion 100 million yuan; the third chapter according to the project's self transformation investment plan and the surrounding market investigation, project management is the next 15 years, and the project land" public sale, income support land compensation income mode comparison. In order to maximize the economic benefit, G company should choose the way of self-improvement. The fourth chapter analyzes the premise of the project selection of self transformation, in order to reduce the risk of project development and project development funds demand, the introduction of partners on all subsequent investment partners and partners invested 500 million yuan, the subsequent investment gap through land mortgage bank loans under the condition of cooperation between the two sides in item company shares ratio and return on investment, and as a G company with partners to negotiate the basis, to maximize revenue.
【学位授予单位】：华南理工大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F299.2;F285

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