A Study On Risk Management Of Large-scale Commercial Real Estate Development Project

Along with the accelerating process of urbanization in our country, and the strong real estate regulation from government, the commercial real estate field has been attracting more and more real estate developers and institutional investors, which gradually becomes the hot point of the current real estate development. However, commercial real estate is a kind of compound property form which is complex and spans two high-risk fields of real estate development and commercial operation. Particularly, the large commercial real estate projects represented by urban complex run higher risk than that of the general residential and commercial projects, though they receive high and long-term benefits at the same time. Therefore, in the process of development, it is the important content and core dimension of the management of large commercial real estate development projects to identify and evaluate the external and internal risk objectively and accurately and conduct the risk management of the project in the scientific and effective way.This paper uses the basic theory of risk management study from both home and abroad, combines the characteristics of large commercial real estate industry, studies and reaches the preliminary conclusion to the theoretical system of risk management on large-scale commercial real estate development project which mainly consists of risk identification, risk assessment, risk response, risk monitoring. It also tries to find out the specific risk identification of each stage during the course of the large-scale commercial real estate project development and the specific coping strategies and measures of the core risk.On this basis and in accordance with the principle of linking theory with practice and guiding theory with practice, this paper selects "ZH life square" under the leadership of Bailian Group as the case of urban complex development project. According to the theoretical system of risk management on large-scale commercial real estate development project, the case of "ZH life square" is analyzed and demonstrated on the aspects risk identification, risk assessment and some others by means of investigation and expert scoring, breakeven analysis, sensitivity analysis and other methods. The specific coping measures of the core risk are also given based on the research.This paper consists of the parts of the introduction, the basic theory of commercial real estate and its risk management, system research of risk management theory on large-scale commercial real estate development project, demonstration study on risk management of ZH Life Plaza project, conclusion and prospect, etc.