Research On The Chinese Real Estate Investment Fund Theory And Development

Real estate has been turning into one of the new growth engines of our national economy. With the booming of financial and real estate in recent years, and the coming of WTO, we should face to the more intensely compete to the multinational real estate corporations. The innovations in real estate financial instruments and the news types of real estate financial capital markets would be the sharpest weapons in the competition. The Real Estate Investment Fund is the necessary outcome of the certain developing stage in the real estate industry.In this thesis, based on the status of real estate industry in our country, the advantages of real estate investment fund were draw out. The investment fund not only broadens the financing channel of real estate industry, and more, because of its clear equity capital structure, investors could monitor the actions of the investment fund company effectively, so that the proceeds of fund could be increased.At first, the background and basic concepts were introduced in this thesis. Secondly the significance to the development of our real estate industry and enterprises and to the investors of real estate investment fund was discussed. Then the types of real estate investment fund were systematically introduced, and its feasibility on the background of Chinese Economy was analyzed. The detailed operational mechanism and programs, including the raising of fund, the establish of company and the exit of fund, were also analyzed.The main running model-Real Estate Investment Trust (REIT)-was introduced in this thesis, The exercisable running models and investment directions of Chinese Real Estate Investment Fund were analyzed according to the advanced model from abroad and the circumstance of domestic real estate industry. The possible risks and obsessions were also analyzed, and the countermeasures were put out. The obstacles for the Chinese Real Estate Investment Fund were discussed, and the advices on the urgently key issues were drew out. At the end, the forecast of Real Estate Investment Fund was described.