Research Of Real Estate Project Investment Decisions

Through the analysis of the special conditions of the Real Estate market and the currentwidely used method of investment decisions, I found that there are some disadvantages of theexisting methods of real estate investment decisions. Proposes to use the Fuzzy Theory and AHPTheory to analyze and determine the affecting factors of the investmental decision-making of theReal Estate project and the percentage of the factors, and find the company’s risk appetite, to findthe criteria of the decision-making project. Then we should use the Fuzzy Theory to improve thebinominal model in the Real Option to evaluate the value of the project. Finally, we should usethe cooperative game model to determine the project decisions. Through the above method, wecould build a new decision-making model which is suitable for the investmental decision-makingof the Real Estate project.This model will be applied to the practical Real Estate program which was cooperated bythe ZX Construction and Spain LST. By using the method of the model, we could ascertain theinfluence factors, to calculate the factor weight, and to determine the Enterprise risk preferenceand the value of the project, finally to make a conclusion on project decision. The decision willbe compared with the different decision conclusion made by traditional NPV method, and it wasfound that the decision conclusion made by the model method is more close to the actualprogram, this proved the model is effective.