Economic Benefit Evaluation On Real-estate Investment Project

With the reform and opening-up going deeper and the rapid growth of the national economy, China’s urbanization process is accelerating, as well as the prosperity of the industry. At the same time, the real-estate investment activities are becoming increasingly active. The real-estate industry serving as a pillar industry of the national economy has become an irresistible trend. We should not ignore the great contributions it makes to Chinese economic development.However,in the increasingly fierce competition environment, China’s real-estate industry is also facing a growing number of challenges.The longer cycle of construction and operation, largely influenced by the surrounding environment, huge amount of investment and other unique features of real-estate industry,make the project face with huge risk in its development process. The real-estate investment is vulnerable to consumers’ psychology, consumption level, the national policy, the national economy, regional development and other uncertain factors, which lead to more problems. If exist subjective judgments errors, the blind construction will not only make the developers and investors suffer huge losses,more seriously,but also cause waste of social resource and ecological imbalance.In recent years, the real-estate industry has excessive speculated, so the intensity of macroeconomic regulation of the relevant departments of the government is more and more strict. So the relevant managers should analyze the synthetical benefit of the project when making investment decisions to avoid or reduce the risk in the investment process, furthermore to avoid failure investment caused by the blind investment.Real-estate project feasibility study is an important means to avoid mistakes in making investment decisions. And the real-estate project economic evaluation is the core content of real estate feasibility study. It is not only a key step during the process of real-estate investment decision analysis, but also an effective reference of the investment decision of the real-estate development project. Scientific, correct investment decision is crucial to the real-estate enterprises and investors.So more and more real-estate enterprises gradually pay attention to previous evaluation stage of the project. Through the overall analysis, demonstration and comparison or evaluation among each scheme targeting on the investment projects, it is guaranteed that the project is technically feasible,environmentally permissible and reasonable in economy, and that it can bring notable synthetical benefits. Therefore, only to pay more attention to economic benefit evaluationof the real-estate investment project, can we reduce or even avoid the blindness of investment decision. Meanwhile, it can not only improve the economic benefits of relevant departments, but also can ensure that the usage of the city land is reasonable so that China’s real-estate industry could be improved continually.In this article, integrating theory and methods of the project feasibility study,engineering economy, project risk management, the AHP model and fuzzy comprehensive evaluation method etc., combining the actual situation of TEB real-estate investment project, through research methods like combination of qualitative and quantitative analysis,combination of static and dynamic analysis and combination of technological and economical analysis, from the perspective of investment subject, the economic benefits of TEB commercial district investment projects is discussed. The financial evaluation of TEB project is from the two aspects, profitability and solvency. It is evaluated that the financial benefit is brought by the project. Using the uncertainty analysis method like the sensitivity method and the profit/loss balance analysis method to study deeply of the main uncertain factors of the project, and provide the corresponding measures; combining of TEB project characteristics and using the AHP model to construct the evaluation index system of economic benefit of the project and the fuzzy comprehensive evaluation model, therefore to acquire conclusion that the project is basically feasible and put forward policy recommendations. Finally, while approving the TEB project, it also provides suggestions and expectations to the improvement of the real-estate investment economic benefit evaluation.