Research On PFI Mode Of Real Estate For Elderly In China

In the context of rapid aging, the demand of elderly residential market is huge. As aform of social pension, real estate for elderly constitutes an important part of thepension system. With its increasing development in recent years, financing problem hasalready become the bottleneck affecting the development. The paper based on thedefinition foundation of the key of real estate for elderly--providing applicable agingservice, comparing several financing mode on the applicability of the real estate forelderly through data collection, literature view, theoretical analysis and etc. Moreover, ituses Private-Finance-Initiative method initially to analyze and mode construction inorder to promote the development of the real estate for elderly and improve the socialpension system, achieving social and economic win-win situation which has a certainreference value.Firstly, the paper analyzes the financing and business mode of the real estate forelderly. Considering large number of the related concept and its intersection anddisorder between each other, the paper argues that the real estate for elderly not onlyfocuses on the appropriate aging residential design, but also emphasizes itscomprehensive supporting, which the key is providing appropriate aging service. Thensort out the characteristics, current situation, financing and business mode of real estatefor elderly.Secondly, it makes the comparative analysis and initial construction of its financingmode. After comparing the differences of five financing mode: Build-Operate-Transfer, Transfer-0perate-Transfer, Public-Private-Partnership, Private-Finance-Initiative, Asset-Backed Securitization, the paper selects the Private-Finance-Initiativemode toanalyze initially. Subsequently, based on the basic characteristics, main type and appliedexperience from UK and Japan, proceeding Private-Finance-Initiativemodeconstructionand analysis, and dividing it into pre-analysis, special purpose company selection, project implementation and concession after processing these four phases.Thirdly, the paper aims at the risk sharing, the core question ofPrivate-Finance-Initiativemode, stating from risk identification, assessment and sharingto analyze the risk of domestic Private-Finance-Initiative project. Moreover, it builds therisk sharing mechanism of Private-Finance-Initiativemode risk sharing of real estate forelderly in order to cope with its design risk. Finally, the author discusses the dynamic alliance of real estate for elderly in theproject implementation and operational phase of Private-Finance-Initiativemode deeply.Furthermore, the paper states the advantages of dynamic alliance than traditionalenterprises and the feasibility of its establishing. In the organization management designof dynamic alliance of real estate for elderly, it stresses the analysis of the organizationstructure and divides it into three main phases: concept formation, building andconstruction operation, making a deep analysis of collaborative management platformteam and business processes on that basis.This paper redefines the connotation of real estate for elderly, get the conclusionthat PFI suitable for real estate for elderly,and the real estate for elderly using PFI modeis divided into four stages.