In recent years, China’s a large-scale mixed-use real estate from concept to rapidly develop into an active use of the land development mode, and continues to heat up.However, due to the city’s comprehensive development itself involved in issues such as economic, social and urban development level and stage, plus the lack of a comprehensive system of rules of the system and the system of city planning guides, the city’s comprehensive development presents many blindand uncertainty, for understanding of the urban complex there are many fuzzy or even misunderstanding. In Kunming, from2008onwards, the land supply model through the transformation of villages, urban complex performance problems are more prominent.In this paper, simple parsing urban complex concept, connotation, characteristics, types, several basic problems of the historical background, development situation and prospects, for instance according to a large urban complexes in Kunming, commercial properties such as office buildings and commercial asresearch focuses on the positioning and operation of the urban complex function analysis two questions focuses on basic research and analysis for the positioning and operation of the urban complex functionality and elaborated in the prevalence of the urban complex in Kunming, and how the success of business operations, the formation of the valid business climate. Combined with the actual way of operation for this project, an investment evaluation is carried out by calculating the cash inflow and outflow during the course of its development, taking into consideration such as the demolition compensation, land cost, construction and installation cost, development management cost, initial construction cost, other development costs, market promoting cost, contingency costs, sales revenues, leasing revenues, cash balance, taxes and fees etc. A balanced analysis on capital source and application, as well as a comprehensive analysis on the investment evaluation key indications, i.e. the net present value, achievable cash flows, sensitivity of major variables and required rate of return for such type of investment, estimates overall operational status of the urban complex, a comprehensive investment evaluation is concluded consequently, and given tentative improved rationalization proposals. |