资产发展与财务.pdf

Property Development and Finance 资产发展与财务 Lecturer: YUYONG Part 1 INTRODUCTION CHAPTER 1: INTRODUCTION TO THE PROPERTY DEVELPOMENT PROCESS 对房地产开发过程的介绍 • Section 1. Introduction （介绍） • Section 2. The economic context of property development （房地产业发展的经济背景） Section 1.Introduction • Definition Property development is the process by which buildings are erected for occupation or for sale/investment.房地产开发是 一个从建设到处置的过程 • Essential point Property development is much like any other economic activity, it acts to satisfy wants with the application of scarce resources. 房地产开发像其它商业活动一样是一个在无限 需求中分配有限资源的过程。 • The development process开发过程 • choosing a location位置选择; • identifying a site and carrying out a detailed site survey 地点选择与勘察; • providing an outline scheme and appraisal制定开发计划 和可研; • negotiating for site acquisition土地谈判; • Design初设; • planning consent规划审批; • Finance融资; • site acquisition获取土地; • detailed plans详细设计; • tender documents招投标; • Construction建设; • occupation or marketing and management处置. • Basic Formulas value -cost = profit GDV -(building costs + site value) = profit the gross development value (GDV开发总值) GDV -(building costs + profit) = EUV (existing use value剩余使用价值) • Some Concepts • Value of the site: which depends on location, use (under planning law), topography, legal constraints, ground conditions, services and access .土地价值取决于位置、用 途、地形、法律限制、地况和基础设施。 • Value of the proposed development: which depends on use, density, design, layout and infrastructure. 预计的开发 价值取决于用途、容积率、设计、布局和基础设施。 • Cost of construction: which depends on size, design, type of buildings, planning constraints on buildings, landscaping and provision of services and access.建设成 本取决于规模、设计、建筑类型、规划约