Research On Asset-light Transformation Of Real Estate Enterprises Based On Community Integrated Services

After the rapid development of the past years in the real estate industry,with the tightening of the lending policy and the rise of land prices,the former asset-heavy model,which relied on the rapid increment of land,began to face a dilemma.Under such circumstances,in order to get rid of the current difficulties and achieve competitive advantages,the transformation of asset-light operation model has become the choice of some real estate enterprises in China.Through the development of characteristic community integrated services,the Fantasia Group has made some achievements in transforming to asset-light operation model.Through the in-depth analysis of asset-light model transformation based on the community integrated service witch the Fantasia Group has implemented,this paper hopes to improve the related research on the transformation of asset-light operation model and its ways.At the same time,it can provide reference for other real estate enterprises who want to carry out asset-light operation model transformation,so as to promote the healthy development of real estate enterprises in our country.This paper mainly adopts literature analysis and case study to research the asset-light transformation based on the community integrated service of the Fantasia Group.First of all,this paper introduces the research on the asset-light operation model and the transformation of real estate enterprises at home and abroad,and explains the reasons to study the transformation of asset-light operation model.At the same time,based on the previous research and the related basic theory,this paper defines the asset-light,asset-light operation model and the transformation of asset-light operation model based on the community integrated service.After that,this paper summarizes the characteristics of the asset-light operation model and then analyzes the current situation of operation model of the real estate enterprises in China,and studies the motivation and main ways for them to carry out the transformation of asset-light operation model.Afterwards,based on the characteristics of asset-light operation model and the current situation of real estate enterprises,some financial indicators are selected as the criteria for evaluating the effectiveness of the asset-light transformation in real estate enterprises.After the analysis of the present situation of the case group,the Fantasia Group,the reasons and necessity of the transformation are pointed out.By studying the transformation process of the asset-light based on community integrated services,we reveal the motivation of why Fantasia Group choosing such way to transform to asset-light operation model.According to the criteria for evaluating the effectiveness of asset-light transformation in real estate enterprises,some financial indicators of the Fantasia Group from 2010 to 2016 are selected.By analyzing the changes,the effectiveness of asset-light transformation based on community integrated services in the Fantasia Group is evaluated.And then analyze the implementation effects of the transformation methods through the changes in the Economic Value Added before and after the transformation.Finally,we draw the conclusion,put forward policy recommendations,research limitations and future prospects.Based on the analysis of the process,effectiveness and implementation effect of the transformation of asset-light model based on community integrated services,we draw the following conclusions:The effect of the transformation of asset-light model based on community integrated services held by Fantasia Group is obvious.The characteristics of their statements gradually reflect the characteristics of asset-light operation model after transformation.At the same time,the transformation of asset-light also brought the improvement of financial performance to the Fantasia Group.Its economic value added showed a general growth trend after transformation.There are many ways to realize the transformation of asset-light operation model.Based on community integrated services is a transformation way suitable of its own development chosen by the Fantasia Group.Other real estate enterprises should also choose the appropriate way to transform to asset-light operation model according to their own reality.On the basis of the conclusion,this paper thinks that the real estate enterprises should adopt diversified development,expand financing channels and establish brand image to find the way of transformation of light asset operation model suitable for themselves.