本文選題：商業(yè)地產(chǎn) + 投資　； 參考：《北京交通大學》2017年碩士論文

【摘要】：近年來,商業(yè)地產(chǎn)的增值傾向明顯,有利于商業(yè)發(fā)展的配套設施在日益完善與豐富,特別是餐飲、酒店與城市交通等產(chǎn)業(yè)快速發(fā)展,不同產(chǎn)業(yè)間形成了相互依存、相互促進的格局,商業(yè)地產(chǎn)投資整體價值引起了廣泛關注。開發(fā)商在利益導向下,開始調(diào)整發(fā)展策略,在商業(yè)地產(chǎn)領域增加投資與開發(fā)量,市場租金與售價也有所提升。商業(yè)地產(chǎn)在發(fā)展中表現(xiàn)出回籠資金穩(wěn)定性高、投資回報率好等特征,這也讓其成為了投資者重點投資對象,市場資金逐漸進入到該領域。然而從開發(fā)商角度來觀察,其最初主營業(yè)務為住宅地產(chǎn),而這種業(yè)務的轉型也凸顯出一個問題,即商業(yè)地產(chǎn)開發(fā)模式相對落后。基于實地調(diào)研與文獻分析,對商業(yè)地產(chǎn)現(xiàn)狀問題給予了充分關注與介紹,并結合國內(nèi)實際對其典型的三種開發(fā)模式進行闡述,即產(chǎn)權出售、只租不售、租售結合模式,并針對不同模式優(yōu)劣作具體對比。通過商業(yè)地產(chǎn)項目開發(fā)模式的關鍵要素分析,以紫金一品項目作為研究對象,利用層次分析法,選取資金實力、現(xiàn)金流、市場需求、凈現(xiàn)值、投資回收期等指標,分別關注了不同開發(fā)模式的效益表現(xiàn),并針對該項目存在的風險問題作具體探析,給出不同開發(fā)模式選用的具體優(yōu)缺點。最后以項目穩(wěn)定獲利性作為主要開發(fā)原則,通過該方法的應用來對比方案整體優(yōu)勢,確保所選方案即為最優(yōu)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.
【學位授予單位】：北京交通大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F299.23

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