A Research On Asset-light Strategy Mode Implemented By Chinese Commercial Real Estate

As the implementation of "limited purchasing order" in main cities of our country and increase of macroeconomic regulation and control of real estate industry in recent years, real estate enterprises have begun by the residential real estate developers to layout and commercial real estate investment, commercial real estate development and investment facing unprecedented historical opportunity for development. Real estate industry is a typical capital-intensive industry, the domestic real estate enterprises are mostly used in assets, heavy into the characteristics of the Hong Kong model, the so-called heavy asset model, real estate development commanding the whole package, at a huge profit. Commercial real estate as an important part of the real estate industry, compared with the residential real estate capital into a larger, longer return period, but a collection of investment, construction and management in the integration of the assets operation mode will no doubt be precipitated a tot of money, caused the real estate enterprise financing bottleneck, real estate enterprises face enormous pressure of cash flow. On the other hand, our country real estate enterprise own capital is weak, external financing mainly rely on bank loans, and bank loan policy tightening in recent years the real estate enterprise faced with more and more severe funding pressures. So, if you want to in the fierce commercial real estate market competition to maintain sustained and rapid expansion, commercial real estate enterprise should seek innovative business model, profit model, property companies operating model needs to turn to" Asset-light operation mode". Asset-light strategy mode refers to the real estate development from the capital to development, planning, design, construction and sales of each link are completed respectively by the highly specialized company, the more money from the public. Light assets mode does not require real estate developers operating the entire process, it is often only in the real estate development investment management chain as managers, participants, operator, or a role of professional managers. Foreign well-known real estate enterprise, such as iron lions gate, capitaland through asset light patterns have continued rapid development, become the world first-class real estate enterprise. At present, the part of the commercial real estate enterprise start light water assets operation mode, and this kind of light asset operation mode is really suitable for China’s commercial real estate industry, commercial real estate in our country is it necessary to be given a heavier assets operation mode transformation into a light asset operation mode, and how to asset light pattern transformation, all these problems still need to be addressed.To solve above problems, this article first analyzes real estate enterprise strategy, from a financial perspective to explore heavy commercial real estate assets or asset light mode of their respective advantages and disadvantages, to summarize their applicable conditions, and through to the overseas mature commercial real estate asset light pattern were analyzed, and provide a reference for our country real estate enterprise asset light pattern; Secondly, through analyzing the present condition of the real estate industry in China, explain current situation in our country is suitable for the commercial real estate operation mode, in order to establish the theory of transformation of China’s commercial real estate asset light mode framework; Again, by introducing a model of transformation of wanda commercial real estate asset light case analysis model for China’s commercial real estate by heavy assets into the necessity of asset light pattern and specific implementation strategy, by analyzing the feasibility of the transformation, the transformation of commercial real estate asset light mode requires the condition is summarized, so as to provide reference for other enterprises industry reference; Finally, for the transformation of China’s commercial real estate asset light model puts forward several Suggestions.Through the research of this problem, in theory, to draw more attention of the academic model for light commercial real estate assets, so as to further perfect the study of light asset operation mode. Practice, in order to light through the transformation of wanda commercial real estate assets operation mode of practical cases, for the domestic commercial real estate and other assets, enterprise management to provide reference, in order to promote the healthy development of commercial real estate industry in our country.